A Friend Of Mine ......

Zebra

About six months ago a friend of mine was diagnosed with a serious illness, at the time she owed about £3,000 on her credit card, of which a small amount was interest.
As the illness stopped her working, she made a claim on her credit card insurance policy.
Foolishly, after making the claim she stopped making any payments to the credit card company, thinking that the insurance would "sort it out"!
She has now been told that the insurance will pay out only £70, whereas the interest now owed is over £500.

Whilst I do not think there is much she can do apart from try to pay it all off as soon as possible, any advice would be most welcome.

Thank you in advance!

jonesMUFCforever

Most credit card insurance only pay out minimum amount each month ie about 2% and this is usually for a max of 12 months.
She is still liable for anything over and above this.
Not wishing to be morbid here but if diagnosis is not good tell her not to cancel insurance as in the the event of the worst happening the insurance will pay off whole debt.