Credit Card Question

megisabel

If you approach a company because you are struggling with current repayments is there anything they will do?

And will it affect your credit ratng?

Tondella

I haven't been in this situation myself but as i understand it ....
If you haven't missed any payments then they will probably not be very helpful with you. If you have missed payments then this will adversely affect your credit rating. If you are having problems meeting your minimum repayments then you should contact a free debt counselling service such as payplan or CCCS. These two charities do what the advertising debt management services charge a fortune for, ie help you to negotiate repayments with the credit card companies so that you can repay the debt and not fall into further trouble with them. They don't charge a penny for this.

If you haven't missed any repayments yet then could I suggest that you post details of your debts (credit card name, amount on card, interest charged, minimum repayment), other outgoings and incomings here. you may have seen from other threads that people are very useful in telling you what you may be paying too much for, and so will help you find more money to make those payments and save your credit record. For example, I could meet my minimum repayments but by shifting the credit cards onto lower interest rates and budgeting more money to repay them have managed to get the debt moving faster.
Good luck and all the best.

megisabel

Thanks for the reply.

I have had a thread on here before asking for help so feel a bit rude asking for more when Im in the same situation.

in*the*red_6

Hi
I think it probably depends on your situation and the credit card company/s concerned. If you only have one or two creditors and you believe the difficulty meeting the payments will only be temporary then I don't think it can do much harm to ring them and see what they will do. If your situation is more complex, then as Tondella says one of the debt charities should be able to offer you some help.
ITR