Credit Card Debt

GerBel

Hi,

I am looking to clear the balance on my credit card and finally get rid of it. However due to my current situation I am only able to pay the minimum balance a month, this is approx £100.

However this is only taking about £10 off my total bill! I am getting hit with interest rates and payment protection.

Is there anyway that I can possibly get the interest stopped or frozen so I can pay off the balance?

I just cannot keep paying £100 a month for only a fraction to come off the total I owe.

Any help would be great.

Any help would be great.

dzug1

Cancelling the payment protection would mean more of your payment going to paying off the debt

loopy.magic

Cancel the Payment Protection part, it's a waste of money. What's the apr you're paying for this card? Have you tried finding another credit card with a 0% or low interest rate deal?

Credit card companies will not freeze interest unless you call them to discuss difficulty in paying and come to a payment arrangement.

GerBel

Thanks for the info. Will cancel they payment protection.

As with finding a card with a 0% deal I have had cards with the big companies i.e virgin etc recently. They will not offer me another card as I have/had a contract with them.