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Credit card dilema!!
manoj74
Posts: 3 Newbie
in Credit cards
HELP PLEASE?? i have a huge oustanding balance of £9000 on a c/c...and the interest im accumulating is crippling me altho i am paying it off and not spending on it..should i ask the c/c company for a settlment figure and risk geting bad credit rating or use a personal loan to pay it off??? 0
Comments
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The card company generally won't offer a reduced settlement unless you are seriously in arrears with the payments. After all, why would they when they are getting their payment each month and you're not getting out of debt?
Depending on the APR of the card, a personal loan may offer a better deal but only on the basis that you cut up the cards and never use them again.0
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