How to get credit card payments down to £1?

alison999

As some of you may know Ive been struggling esp with council tax. Its now been agreed that I'll pay £100 p/m for my arears.

But Ive read a few times of people paying £1 towards their credit cards. I have a Vanquis (:eek:) card and a Barclaycard. I want to pay Barclays £1 p/month while I get rid of the balance on the Vanquis card since the interest is so high.

How do I go about doing this? Can I do it by letter? I hate ringing people now over money things.

Thanks

DarkConvict

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

1 High Street,
Newtown,
Kent
R21 4RH
February 5, 2010

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

Dear Sir/Madam

Re Account No/Reference No:- 4563210025897412
Since making that above agreement with you, our circumstances have changed.

We cannot now afford to agreed monthly payments because ... [your paragraph added here]
We enclose a Personal Budget sheet which shows our total income from all sources, and the total outgoings of
our household. As you can see we have no money left to make offers of payment to my creditors.

In view of our circumstances, would you please accept [no payment at present] [a token offer of £1.00 per
month] to be reviewed in six months. If interest or other charges are being added to the account, we would be
grateful if you would freeze these so our debt does not increase.
Should my circumstances improve we will contact you again.
We would be grateful if you would send a [paying-in book] [standing order form] to make it easier to pay you.

Thank you for your assistance. We look forward to hearing from you as soon as possible.

Yours faithfully

Mr A N Other

alison999

Thank you so much!

tyllwyd

One thing though - Barclaycard might expect you to treat them equally with your other creditors, so they might not accept that you pay them £1 if they can see you are paying more to Vanquis.

alison999

tyllwyd wrote: »

One thing though - Barclaycard might expect you to treat them equally with your other creditors, so they might not accept that you pay them £1 if they can see you are paying more to Vanquis.

do i have to send a soa? could i leave vanquis off it or is that fraud? ive never done this before and dont want to get into trouble. this barclaycard isfrom 2003/04, i havent spent on it for YEARS. its just all charges and interest now

would they still charge me if im paying £1? they have dropped my credit limit to £0 so i am ALWAYS over drawn