Halifax cut minimum repayment

Paulgonnabedebtfree

Got a surprise a couple of days ago. My Halifax CC bill came through and they only want 1% instead of the usual 2% as the minimum payment. As I'm on a lowish (6.9% I think) life of balance deal, this was very welcome. At my current level of debt to them it saves me about £70 a month. OK I know it will cost a lot more in the long run as only about 40% of my repayment now is for repaying capital. However, it gives me a little bit of much needed breathing space. As I get back on my feet, I do intend to make rather more than the minimum repayments because I'm well aware that these debts can be strung out over very many years if minimum only is repaid. I owe a lot of dosh to various companies and any respite is more than welcome as I rebuild my income.
Currently living on pasta, fresh vegetables, fresh fruit and discounted "late in the day" bread which I freeze.
The highest I pay on any debt is 7.9% - partly thanks to this website. However, the £1,900 on GMCard will go from 5.9% to 12.9% in the next few months so I will need to find another, more permanent home for that one eventually.
Considering the very deep doodoo I got into, I'm amazed and how well I'm managing it all (partly thanks to this website). I suppose it's good fortune that I don't drink alcohol, don't smoke, and don't eat meat (but neither did Adolf Hitler so I question how virtuous it all is) .
I'm single and I take the view that the worst they can do to me is make me homeless. They can't actually execute me

Sorry. Went off at a tangent there.

Double_Trouble

Not good for anybody on a interest rate over 12% as they will not be clearing the interest charged let alone the capital sensible lending by HBOS don't think so!