Make sure that your repayments are high enough to bring your account out of persistent debt. You can use our repayment calculator to find out how quickly you could pay off your balance if you increase how much you pay each month.
You could consider transferring the balance to a credit card which has a lower, more affordable interest rate. Or, you could use an affordable loan with a lower interest rate to pay off some, or all of your balance, and then pay your loan off with a set monthly repayment. If you transfer the balance to a new credit card it’s a good idea to cancel your old card or account, and not spend anything on the new card Shop around to get the best deal - use a price comparison site to help you Check you’re eligible before applying. Use a provider that offers a ‘soft search’ before applying for a new product. This type of check won’t leave a record on your credit file. If you choose to repay your balance with other credit, keep up with your repayments to avoid extra charges and interest
They may be willing to freeze interest and charges on your account for a while. Or, if you’ve looked at moving your balance to a loan or card at another bank, let your current provider know as they may be able to offer you a better deal. Speak with your creditor to make sure the amount you decide to pay is enough to get your account out of persistent debt. You could make your minimum payment plus a fixed amount each month. For example, by adding £10 to your minimum payment You could repay the same amount each month. For example, you could repay £75 each month, as long as your minimum payment is below this amount Put together a budget of what your income and outgoings are each month. You can use this to see how much more you can afford to repay
If you no longer use the account but increase your monthly repayments, your balance will reduce quicker.