Credit Card Statements

Marcus-H_2

:mad:
Wondering if someone can give me some advice....

My wage isnt paid on a set date (can be as much as 10days difference)

Now to combat this problem I asked my CC company to Move my payment date.. Not a problem they said. However, since I did Ive had no ends of trouble of not receiving statements on time.. They usually turn up on the due date or later.... The CC company wont take a payment over the phone unless it is late.. So as it is I have no way of knowing how much is due as a minimum payment & End up getting stung for Late Payment Charge & usually an Underpayment Charge (£20 for each)

Can anyone advice me on what to do? The debt is close to defaulting as I refuse to make anymore payments as I'll only lose it in Interest & Charges anyway.....

Bossyboots

You need to be a bit more proactive yourself. You know from your last statement what your outstanding balance was and you know how much you have spent since.

The minimum payment is a percentage of your outstanding amount (it should say on the statement). You could therefore work out yourself what it is likely to be. You know the date the statement is being raised. You need to make a payment based on your own calculations at a point in the month when you anticipate it should be due. With some care and calculation, you can make a payment without actually seeing your statement. My due date is always between 10th - 13th of the month. If I cannot find my statement when I want to pay it, I always err on the side of caution and pay it by the 10th.

Your credit card company don't appear to be being particularly helpful, but these are things you can do yourself to at least stop the situation getting worse. Not making any more payments is simply cutting off your nose to spite your face.

Reaper

The simple answer is to set up a direct debit to pay off the minimum amount each month, then you will never miss it.

If you want to pay extra (and you should - see Danger! Avoid Minimum Repayments) then you can make one off paymemts in addition when the statement arrives.

KTF

Who is the card issuer? Most offer online statements these days so its easy to keep track of your spending without waiting for the statement to hit the mat.

Reaper

Marcus-H wrote:

The debt is close to defaulting as I refuse to make anymore payments as I'll only lose it in Interest & Charges anyway.....

Bad idea. You are just ruining your credit rating which will make it impossible to get any cheap credit in the future.

If you are having debt problems simply refusing to pay is not a good approach. See the WHERE TO START WITH PROBLEM DEBTS? article.

Robert_Sterling_3

I would just like to endorse all the sound advice given in the above posts.

JohalaReewi

You could transfer to a new CC company if this one isn't working for you.

Marcus-H_2

Problem with working out the minimum payment, is if I get it wrong & underpay, it'll cost me £20... I can only afford to make minimum payments on this card as I have a loan with higher interest rate than the card which gets Priority. Direct Debit is not an option because I only have a basic bank account... Im on top of all my debts with my creditors except for this Card.. Its not that I wont pay it, its just they are adding on to what I call unfair charges due to Them not getting my statements to me on time so I have no way of knowing what to pay. Ive offered an amount between my Limit & the Balance I had before their cockup over the due dates, but they refuse to accept it.. Im not going to budge & get bullied into paying the full amount.

My credit history is shot to pieces with late payments anyway.. A default wouldnt make much difference & TBH it would do me a favour so I cant get in this kinda trouble again :T

No matter now really as its been passed on to a 3rd party (they just called today). They said I may end up in court.. which is fine really, I explained what happened to them (3rd Party) & the fact they (the Credit Card) threatend me with, warrants, court actions, etc. Phoning up Pretending to be someone else & refusing to stop calling after I asked them repeatedly to put everything in write... all of which the CC company aren't exactly legally allowed to do...

Robert_Sterling_3

Why is your wage not paid on a fixed date?

Bathsheba

Do you not feel able to say which company this is? You might get some more specific advice from people who've had dealings with them - or, at the very least, alert others to their seemingly unfair practice.

rudedog_2

I agree with reeper. You must pay the minimum amount without fail. If not a direct debit, does your basic bank account allow you to set up a standing order?

I do however feel that you have been treated very badly by your credit card company.... I think if what you have said is completly accurate that you would have a case against this company. I'm sure that the company is obliged by financial regulations to provide you with "timely" and accurate information to enable you to manage your account. In this case, they have been late in providing you with the information to allow you to make a payment on time.

dog