A question...

Summer_Rain_5

I have two credit cars, both now on max limit, about £2500/card.

As my finances are not great currently, I am ever-so-slightly tempted to cancel the DDs for both, write to the relvant companies and say I cannot afford to pay you the £55-£70/month that I should be, I'll ask them to stop the interest and instead I'll offer them...say.... £10/month.

*If* I was to follow such a course of action, and try and stick to my guns......what could I expect?
Thank you in advance! :beer:

SR

DestroyingAngel_2

Speak to them on the phone rather than write in, you're more likely to get somewhere faster. Most companies have a Customer Assistance department that can help you come to some sort of alternative arrangement. The only caveat is your credit history might be affected adversely...but ask if this is so, and only then make your decision.

lisyloo

This could affect your credit rating.

Have you considered trying to increase your income or reduce your spending.
Is there anything you could cut back on - gym? sky? mobile phone? petrol? (it's not too bad walking or cycling in the summer).

If you need some tips then the guys on the dealing with debt board are very good as many people have been here before.
You need to post a lot more details though on incomings and outgoings if you want advice.