Advice Needed (Credit Card)

craigrg

My partner got a credit card nearly 10 years ago. She has not used the card since around 2005. Over the past 4 years she has been paying £100 a month. She did go into arrears around for 2 months while she was out of work.

She has just called them to ask them if they can stop the interest as she is paying more each month than they have asked her to. They said NO and adviced her to go in to arrears to get a payment plan or get a external loan to pay it off. She is unable to get a external loan as she has only been working for 4 months.

Does any one have any advice on what she can do as she has been paying a £100 a month for 4 year now and the balance has not even gone down.

Thanks in advance

sarahs999

Has she not tried to get a 0% balance transfer to another card? If she's only been working four months how has she been paying £100 every month for the past four years? Wjat's the outstanding balance? what's the interest rate?

craigrg

Hi Sarah thanks for the reply.
Sorry i did not write that right. She was of work for 1 year to have a baby. She went back to work around 4 months ago.
I not sure what the outstanding balance is but the APR is 29.9%.

sarahs999

OK, that's slightly clearer - though still don't see how she paid £100 a month if she was on maternity leave?

Anyway, sonmeone will be along shortly with more info than me - I just wanted to know what steps she had taken to see if she could get a 0% card that would give her some breathing space. The outstanding balance is important too as we need to know how longstanding the problem is; if its thousands then a 0% may not be the best idea.

Are your finances joint? Are you not helping her to pay her bills given that she's been off work looking after (presumably) your child? (apologies if it's not your child)

If your finances are joint you could post an SOA nad we could have a look to see where you could make some savings.

craigrg

Hi Sarah,
To cut a long story short. the debt is from before we were together. I helped her when she was not at work.

I think it around £1000.

dtaylor84

craigrg wrote: »

Hi Sarah,
To cut a long story short. the debt is from before we were together. I helped her when she was not at work.

I think it around £1000.

That doesn't really add up. A £1000 debt at 29.9% APR paying off £100/mo, the card would be paid off after a year.