credit card interest

eye_spy

does anyone have advice on the possibility of a credit card company lowering the rate for compassionate reasons? I am not currently working due to having cancer not to long ago. I have just went from a 6.9 rate to a 16.9 rate which has pushed up the monthly amount to pay. Cant get another card because I am not working. tried getting one with a free balance transfer facility but no joy. Any advice would be appreciated


thanks

Will x

NickX

I am very sorry to hear of your illness, I really hope that you feel better soon.

I think you should definitely contact the card company and request a lower rate. Under the circumstances I think it would be very uncaring of them not to be sympathetic to your circumstances.

Good Luck.

eye_spy

Thanks nick. Getting a little stronger now but still a good year before I will feel remotely normal. I cancelled my life insurance a year before too, typical!! I'm only 28 so you dont really expect it lol

Will

maz1964

hi Will

seen your thread and just wanted to say hi and hope you get to feel better pretty soon

like nickx has said, contact them and also what about any charges you may have incurred?? claim them back, and also any poss charges on your bank accounts claim back and point out about the hardship rules, the banks should look at your circumstances and be more supportive

im sure others will come along tomorrow if not later tonight to offer more advice

take care and good luck

ciao MAZ

eye_spy

Thanks for the advice. I am so annoyed with a store card I have been paying off. I didnt have it as a direct debit as I pay it when the bill comes in. I received no bill last month and I paid what I thought was the last of it only to get my next statement with a £12 charge to pay only.

Will

eye_spy

called MBNA and got a blunt "no chance". They werent even willing to entertain the fact of what I have been going through. I will never be able to pay it so I told them it was a case of drop or there wont be payment as I cant afford it. any further advice would be helpful

Thank you

Will

NickX

eye_spy wrote: »

called MBNA and got a blunt "no chance". They werent even willing to entertain the fact of what I have been going through.

Hi Will,

I am sorry to hear of this response from MBNA. Unfortunately there are many reports on here that suggest that they are not the most sympathetic Card Provider.

At the end of the day the most important thing for you is getting your health back, health comes before wealth in my book.

You can only pay them what you can afford. Ignoring them is not a good option, it will be very difficult for them to take action against you if it is clear that you are making an effort to pay them what you can. Its when people completely ignore their debts that the courts send bailiffs in.

So, I think the answer is to make them an offer and justify why that is all you can afford backed up with a Statement of Affairs.

The people on the DFW (Debt Free Wannabee) board on here are very experienced at advising on such things. Many of them have beaten crippling debts in the past.

I would also recommend CAB (Citizen's Advice Bureau) who offer a free service, will negotiate with your creditors on your behalf and have access to professional legal advice.

Please don't get too stressed over it, as I mentioned getting back to health should be your priority and as long as you don't ignore the debts I think you will sort them eventually.

Good Luck.