Redundancy - credit cards - help

SLAINTE68

Help /Advice needed

I was made redundant last month to be honest I didn't see it coming, ( SO NO ppp IN PLACE) I have monies owed on 4 credit cards and one loan from the bank, from next month I will be struggling to meet the payments unless I get a start back in work by the end of the month, any ideas on how to approach the credit card companies to try and reduce the payments until I get back into full time employment, over the period I haven't missed any payments and a couple that were late I got reimbursed the late charges as it was down to my bank

Thanks,

Slainte68

kateab

I have never been in this situation but I would imagine that you need to do it sooner rather than later and start to negotiate now. If necessary, drop down to the minimum payments although this means it takes you massively longer to pay off the debt.

I'd suggest you be honest about the situation and offer to keep them up to date with your situation so that payments can increase again once you've found a new job.

It's probably worth ringing the CCCS for debt advice.

kateab