negotiating with credit card companies

doyda

Hi,

Just wanting some advise really if what I have done is the best way forward.

I have recently had a quite sudden and shocking family bereavement, very upsetting, lots to sort out. I am self employed so have had to take quite a bit of time off work - therefore not earning enough money. I have missed paying the mim payments on credit cards this month.

I tried to ring them and explain the situation but didn't get much joy - foriegn call centres etc.

So I have written letters explaining the situation and enclosing a token payment for the month. I have also requested if poss my interest be frozen for a short period of time. Thus enabling me to get back on track with payments.

I also added that from Jan I will be working as normal and will be bale to make up the arrears with the help of no added interest.

I am waiting for a reply so was just wondering if this was a good move and if anybody had any personal experiences with writing to credit card companies?


Many thanks for reading

poorandindenial

First of allI want to say how sorry I am for your loss, I hope you get some joy from you creditors.

I personally think you have done the right thing, some might be willing to help (they may ask for additional evidence such as a copy of the death certificate or something) but you have done the responsible thing by getting in touch and showing a willingness to pay and they now have to decide whether to be considerate lenders. The only other thing you could maybe do is a full repayment plan (month by month) that shows how you will proceed until arrears are cleared - make sure it is something manageable, don't make things too tough for yourself.

If you wanted to get some expert advice to check you have covered all the bases you could give nationaldebtline.co.uk a call (they also have template letters and thingson their website)

Good luck and I hope that you have some luck getting them to ease things off for a bit while you get back on track.

doyda

Hi,

many thanks for your reply - i feel a lot better now

It's hard at time like this to know what is for the best - I have never missed payments before so feel a bit starnge about sending the letters, but on teh other hand it's been such a difficult time emotionally I just want some breathing space for a month or so to get back on track with everything.

I know all will be fine from January and I will be able to make all minimum payments from then on and also coming into some money in June so heres hoping for a great 2009.