Monthly Payment Reduction to CC Company

Rocket

Dear All,

Fairly new to site and trying to deal with my 20K credit card debt. Yuk.

I have sent letters to the five credit card companies asking them to reduce the monthly payment amounts using the imoneymanager template, I am waiting for responses.

A friend said that if I am accepted for the reduce amounts I will also be blacklisted by all the card companies? Can anyone confirm if this is correct and if they have had any success in asking for payments to be reduced.

Thanks in Advance

Rocket

NickX

I believe that the Providers can mark your Credit File as "Arrangement to Pay".

This is not a blacklist specifically but it will not do your Credit Rating any good for the foreseeable future.

Good Luck.

Rocket

Is there a certain amount of years that this will affect me or are we talking for life!
Not that I ever plan to get in this situation again.

Also can you tell me how you type in the capone £xxxx halifax £xxxx at the bottom of your emails.

I am trying to only have £10 in my purse from mon - fri and am sure it would make me feel better by keeping track on here when I post a question etc.