Hello everyone and thank you for taking the time to read this. I was hoping that you could throw some advice my way, given that my financial situation is beginning to worry me quite a bit.

I am a 30yo married man with a young child and another on the way. I make a decent salary - currently £48000pa. However, my probationary period at work involved working for only a fraction of this for two years, while still renting in a very expensive part of the UK (just outside London). Because of this (though I take full responsibility) I ran up quite a bit of debt.

At present, my monthly income after tax is £3500, though it varies slightly from month to month.

I currently owe £12000 on credit cards. I have two 'spending' cards, which I try not to use unless absolutely necessary, and two balance transfer cards which are maxed out.

I pay the full share of £1220 in rent, as well as all of our utilities, council tax and food bills. My wife is unable to work due to health issues and the fact that she is pregnant. I am left with very little at the end of the month; not enough to be able to build an emergency fund, and certainly not enough to save. Hundreds of pounds leave my account every month to pay even the minimum on my CCs. And, sadly, I often have to dip back into my CCs to cover basic expenses.

We have had to move house several times in the last few years, partly due to her health but on one occasion because the house was sold up from under us.

My credit rating absolutely stinks. I have checked MSE's credit expert and my affordability shows as low for both CCs and loans. I have not missed any payments and there are no specific red flags other than me having a low disposable income.

We live comfortably but not extravagantly. The ideal solution - to me - would be to get a loan with fixed monthly payments, spread across 4 years. This way I can cut up all but one of my CCs and pay off more on the loan when I can - my salary is due to increase as the years go on. Ideally I would pay it off early.

The problem is that I am constantly declined for loans, other than ones with ridiculous interest - almost payday loan standard. I feel I'm running out of ideas, let alone options.

Reddit, I'd really appreciate your help and advice on this. Thank you again for taking the time to read my tome.