Time card - anyone have experience?

I was silly 4 years ago and got a comet time card. I defaulted in the past and had a 6 month payment scheme. back to repaying normally now- although only paying the minimum payment - which is not good! At 30 something% its a bad one!
|I tried speaking to a customer service guy about blagging a lower interest rate or freezing it but he said a credit check would have to be done and a statement of my accounts.
Anyway can i arrange something with them without this happening? Its only £620, but can not afford big payments for the next few months. Just £33 a month. I have no credit cards with a big enough available to spend - and would prefer not to get another card if possible - history shows im not to good with them - although probably better these days!

Comments

  • IF that's their usual company policy then you're unlikely to get them to agree otherwise. As you probably know, if you don't pay their minimum monthly payment then you risk having the account defaulted again with all the problems that brings. Listening to Martin Lewis on radio 2 recently, he was suggesting the following: Set up a standing order for this month's minimum payment & keep the standing order amount the same every month. That way, you'll pay a little more off the actual debt every month. The example he used of £3000 on a CC was that if you kept paying the minimum payment every month it would take 40 years to pay off the debt. But, using the method above reduced the payment time to 7 years. Any spare cash you get hold of should be chucked at this because the APR is horrendous.
    Donedoingdebt Lightbulb moment January 2000. Debt at highest approx £102,000. Debt now (October 2009 - absolutely fork all!!!):beer:
    CSA case closed on 02/09/10 :beer::beer:
  • code-a-holic
    code-a-holic Posts: 1,360 Forumite
    Thank you - Didnt think there would be an easy option to make this more bearable!
    That system Martin spoke of is something i have done for the last 6 months. The minimum isnt reducing very fast with them because of the apr.....it was £33 when it started. Its 30.75 this month i think!
    I have chucked a couple of £100 lumps at this so if i keep at it this could be gone in 8 months....if its a good 8 months!
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