Egg - wishing they would have a humpty dumpty moment

Pippilongstocking

Any advice

Grr grr grr - sorry just off phone to the very charming but incredibly unhelpful girl at Egg.

CC is over limit - and only so cos I was/am struggling with it - so tried to contact them by email, twice and no joys - so rang today.

Asked what options there were to help me pay it off - told them was considering an IVA but thinking if I can sort things out myself this is a better option.

Asked if there were any way to consider freezing interest or such like, but have been told despite my efforts to communicate and pay that they can only help folk that can't make the minimum repayments - or I can apply online for a loan. Nowt else they can do. I pay jsut over minimum payment - but 2/3 of it is going on the interest - so trying to be positive and find a way to reduce it - can't swap as bad risk (moved alot and constantly in illegal overdraft - although I am trying hard not to be over anymore)

CC rate is 26.9% - I owe about 3300 (half an MSc)
Loan rate quoted was 24.9% - this is outrageous!!

So any one any ideas how to either get them to listen - or to do something to pay it off less painfully.

Its my biggest debt, (apart from student loan) I live constantly in overdraft 0% as am student, card is no longer usable (I am one of the customers they binned) so no idea what to do, is drip drip the best way just pay off as I can or does anyone have a birght idea?????

Would be eternally grateful - right now I want to shove egg off the wall and watch them crack like humpty!!

normanmark

Well they are right in saying that if you're making the minimum payments then you wouldnt fit the criteria for someone that would have the interest frozen.

Your best bet is actually looking at your budget & looking at ways to increase the minimum payment. Look at taking on some part time employment to help pay off the card. Also i hope you've cut up the card already or alternatively requested them to put a block on the card to ensure future spending doesnt occur?

[Deleted User]

You could apply for a loan on Zopa Listings http://uk.zopa.com/ZopaWeb/Listings/. Lenders bid to give you the lowest rate on a loan. Some borrowers with poor credit scores end up with loans of around 10-12% and there are no penalties for early repayments should you get back on your feet and wish to pay back a bit extra. You're not obliged to go through with a loan once you know the rate either.

Hopefully this lower cost borrowing coupled with normanmark's tips should help you.

Pippilongstocking

thanks having a look at both, its just galling, I am trying to pay this off but its so expensive I jsut want to sort it all out asap!

Advice much appreciated, my grrr is that you call them and tell them ok am struggling, and they don't seem to want to help, if I didn't make the minimum repayment then it be worse - but there seems to be no middle ground........

rant over!!

normanmark

fayjmck wrote: »

thanks having a look at both, its just galling, I am trying to pay this off but its so expensive I jsut want to sort it all out asap!

Advice much appreciated, my grrr is that you call them and tell them ok am struggling, and they don't seem to want to help, if I didn't make the minimum repayment then it be worse - but there seems to be no middle ground........

rant over!!

Its probably best that you didnt go down the route of them freezing the interest. Even though you're meeting the minimum payments its still ensuring that your credit rating has taken a hammering.

In all honesty you just need to bite the bullet & work out a strict payment schedule in order to pay it off as quickly as possible. As opposed to trying to rely on the credit card to give you the disciplinary payment schedule.