Credit cards at a maximum limit and no credit available

On December 9, 2010, in News, by Lewis Alexander
  • “Credit Card Debt” – It’s a day you’ve been dreading for some time and now it’s finally happened.

Except, you’re at the checkout in the local supermarket, you have a trolley full of frozen food (including the Christmas Turkey!) and your overly nosy neighbour is at the till just to one side.  What can you do? As you suddenly remember that all of your credit cards are at their maximum limit and no more credit is available.

In this scenario there are a couple of things to consider.  Not least, how to escape the embarrassment of the supermarket situation with your head held high!  To that end, whether the clerk has made a mistake, offering to pay by using up all your ‘club card points’ or simply stating that you have brought the wrong purse out with you all may work (Turning a bright shade of crimson and running out of the store is not advised!)  Once home however, the real work to solve credit card debt needs to start.

Firstly you need to undertake an honest and open review of all of your outstanding commitments.  Having all of your credit cards at their limit and having no credit available might be resolved by moving some savings around to clear down your debts.

Options to clear credit card debts include looking at the equity available within your property to see if a homeowner loan or other secured facility could be taken.  You may be in the fortunate position to borrow the funds from a friend or member of the family.

  • Perhaps you might have an asset such as a car or a caravan that you might be able to sell?

If many of these options have run out and having no credit available really is the end of the line, then by having a clear idea of your debts and the size of the problem that you are experiencing, you are able to look at wider solutions to your current credit card crisis.

Our debt management specialists will be able to take important details from you and can then complete a financial health check of your current situation allowing us to work with you to find a solution that is right for you.  We offer a wide range of options from bankruptcy to debt management, but will always look at each individual case and listen to your preferences before selecting the right option to move forward.

We are also able to speak with any unsecured creditors you may owe money to on your behalf to stop the difficult phone calls or letters that you may be receiving.  By working with these creditors and explaining what you are able to pay, rather than what you cannot afford, we find that many of our clients experience a sense of calmness that their financial situation is being handled confidently and professionally.

  • Once we have started a dialogue with you, we can then work to deliver the solution that is right for you.

If you are near this supermarket nightmare scenario, or are too afraid to open the postman’s letters or take any calls at home, it may be time to get in touch with us to see if we can help!

Having all your credit card balances at their maximum limit and having no credit available can be a difficult situation, but there is a chance you could turn this situation around and experience change for the better.

Our professional debt management experts are ready to take your call now, so contact the Lewis Alexander free from a landline debt helpline on 0800 018 6868 and make a firm decision to try and start to clear your credit card debt today.

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