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Negotiating a lower monthly figure on CC'ds

mrscmr Posts: 2,903 Forumite

12 July 2009 at 6:35PM in Credit cards

Hello
Im not usually on this side of the forum - mainly stick to debtfree diary bit. OH and I are trying to deal with some grim debt issues due to OH losing job and income.
We have a mortgage which has been put on a 3 month holiday and we have a number of credit cards and loans all unsecured. I want to ring up the companies and negotiate a lower payment / or a holiday in the short term. Once OH is back in work then we can carry on. We have been working really hard to repay our debt and face up to our wasteful extravagant lifestyle and we take full responsibility for our current position.

Can someone give me some good solid advice about how to go about this conversation and what is the likely outcome?
the companies we owe are:
Lloyds 3 x loans 8.5k, 5.3k, 21k, egg loan 22k, black horse 1.4k lloydstsb cc 10k, mbna - 12k, virgin mbna 14k and egg cc 14k. yes i know this is alot and im not proud but would appreciate some advice.
thanks

Highest Debt £581,000 Nov 08 and now owe nothing! yes really! I have learnt my lesson the hard way!
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