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Freezing interest
metrobazz
Posts: 1 Newbie
in Credit cards
AT the moment I am paying back over £1300 per month on loans and cards. Each payment is making only a couple of pounds difference to my balances and I need to try and pay more into each account to reduce those balances but can not afford to. If I ask lenders to freeze my interest for a few months does this have an adverse effect on my credit rating?.
0
Comments
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If I ask lenders to freeze my interest for a few months does this have an adverse effect on my credit rating?.
I believe that they can put a marker on your Credit File showing that an "arrangement to pay" agreement was put in place. Other lenders can see this so the answer to your question is yes, it may have an adverse effect on your Credit Rating.
How about getting a new 0% deal and transferring the debt over ?0
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