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Credit Card Debt - Help!

presty_2
presty_2 Posts: 7 Forumite
in Debt-free wannabe
Hi,

I want to write to my credit card company and ask them to freeze the interest and charges on my account.

I have a £2000 limit and due to a few months of unforeseen expense I’ve missed a few payments and the interest and charges have taken me over my limit and its starting to snowball.

I want to get the debt paid off but all I seem to be doing is paying off interest and the actual balance doesn’t seem to be falling!

Does anybody have a draft letter that I may find useful? i want to get it sorted before it starts to become an issue!

Thanks.

Comments

  • presty_2
    presty_2 Posts: 7 Forumite
    Anybody.....?
  • looby75
    looby75 Posts: 23,387 Forumite
    .national debtline

    at the bottom of the page there is a whole list of sample letters you can use.

    hth
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    hi there presty have you done an SOA before? We can shave off some money from your outgoings so you can meet the debt payments

    I doubt your CC is in good shape right now, but in future you might want to move to a low interest, or even 0% so the payments are actually going off the balance.

    You can claim back your charges by suing your bank - the charges are not legal https://www.consumeractiongroup.com/forum
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • rog2
    rog2 Posts: 11,650 Forumite
    10,000 Posts Combo Breaker
    To be honest, I think it would e better coming from an independent third party, such as CAB. However, as a first resort, have you tried writing to cc companies, explaining that you have problems, and asking for their help - you don't have to take it, and their reply may be useful if you need to contact CAB.
    I don't think that there is a 'template' but have a look on the debt helpline link at top of page.
    I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
    If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.

    HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7

    DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
  • rog2
    rog2 Posts: 11,650 Forumite
    10,000 Posts Combo Breaker
    Sorry - My post has overlapped. It's like waiting for a bus - nothing for an hour, then three come at once!
    I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
    If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.

    HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7

    DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
  • presty_2
    presty_2 Posts: 7 Forumite
    Whats a SOA? I'm guessing i havent done one as i dont know what it is.
  • presty_2
    presty_2 Posts: 7 Forumite
    I sent them a letter of that link yesterday explaining I was seeking advice and to hold action on my account for 28 days.

    The situation I am in is by no means a bad one. I can afford to pay it off in monthly chunks and have a good deal of expendible income.

    I just want to stop the interest mounting up. I tried to get another 0% card for a balance transfer, but my rating is not good and they only gave me a £500 limit.
  • Bloke_with_a_simple_life
    Bloke_with_a_simple_life Posts: 188 Forumite
    SOA - Statement of Affairs... your income & out goings... for examples &advice, try this link for some introductions from SouthernScouser.... http://forums.moneysavingexpert.com/showthread.html?t=107280
This discussion has been closed.
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