Stopping Credit Card interest/Reducing Payments

YorkshireBoy

OverTheRainbow wrote: »

...interest on the account is being charged at £17.67 a shot, as well as an "overlimit charge" of £12 every month.

So, your balance is a little over £1,400. If they were to increase your limit to, say, £1,500 could you afford to pay £30 per month (at 2% minimum payment)?

If the answer is no, and at the risk of repeating myself, then you really do need to fight your "stubborn" side and consider postponing your studies for 12 months, clear the debt, and start again debt-free...don't you?

You do realise that defaults, IVA's, CCJ's and bankruptcy will trash your credit file for several years following your studies?

OverTheRainbow_3

YorkshireBoy wrote: »

So, your balance is a little over £1,400. If they were to increase your limit to, say, £1,500 could you afford to pay £30 per month (at 2% minimum payment)?

If the answer is no, and at the risk of repeating myself, then you really do need to fight your "stubborn" side and consider postponing your studies for 12 months, clear the debt, and start again debt-free...don't you?

You do realise that defaults, IVA's, CCJ's and bankruptcy will trash your credit file for several years following your studies?

Yes, I could - I've offered them £30 but been ignored. When I want to stop is them just randomly taking what they please from my account, because it leaves me in trouble in other areas - Even when I was making payments off my own back, they were still dipping into my account. But I also want a payment plan where I am actually making a reduction in payments, not a increase (as explained above)

I am aware of this, but there is very little I can do when they're simply not listening to me.

CLAPTON

As the sums are relatively small although they may be causing you great difficulties, could not a family member help you out here and then you pay them back?
It seems a shame that these sums may well cause you a lot of trouble over the next few years.

Will you circumstances get better once you're a student or will there still be financial difficulties?

OverTheRainbow_3

CLAPTON wrote: »

As the sums are relatively small although they may be causing you great difficulties, could not a family member help you out here and then you pay them back?
It seems a shame that these sums may well cause you a lot of trouble over the next few years.

Will you circumstances get better once you're a student or will there still be financial difficulties?

My parents are undisclosed bankrupct and survive solely on my father's state pension. We have no other family, except my brother who doesn't speak to us anymore.

It's not so much that the sums of money are causing me problems - I can afford to pay some back, and maybe I'm being naivee and silly, but I don't see £30 as an unreasonable sum. =/ It's the charges that are crippling me!

I'm hoping circumstances will get better. With my parent's finantial situation and my uni course being in London, I get the full whack of student loan and hopefully already have a job lined up - my current job have offered to transfer me - So I shouldn't be in an unstable situation finantially.

CLAPTON

Without knowing the full circumstances its not really possible to comment.

I don't really understand what you mean about the sums of money not causing you you problems etc or indeed about your view about £30 being reasonable.

A reasonable sum is the contracted amount... what caused you to stop paying this in the first place?
Did you explain to them the reasons why you couldn't pay?
Did you support that by providing details of your income and expenditure showing you simply couldn't afford it?
Did you explain to them when you could restart paying the contracted amount and ask for some time to allow your circumstances to improve?


Anyway wish you well in London