Any chance lenders will stop interest charges

Igiveup_2

HI

My circumstances have changed drastically and I wondered if I wrote to the credit card companies and asked them to stop the interest, if there was any chance they would.

One of them is American Express and the other is Cahoot
Is this a bit naive to ask them.

I'm going to make every effort to keep up, but I am worried.

I'm doing an soa to post on here, in the hope of advice, but it's not ready yet

dave318

I would say it has got to be worth a try. They may not remove it completely, but they may reduce it. It isn't unknown.

Dr.Shoe_2

You will probably have to send them a SOA. I did mine over the phone with MBNA who have stopped mine for a year.

Angela_D_3

They might, if you don't ask you won't get, they generally close your account too though which may not be a bad thing.

rog2

If you follow the link at the top of the page to National Debtline, you will find some sample letter templates that you can use to ask your lenders to freeze interest.

Bloke_with_a_simple_life

Igiveup wrote:

HI

My circumstances have changed drastically and I wondered if I wrote to the credit card companies and asked them to stop the interest, if there was any chance they would.

One of them is American Express and the other is Cahoot
Is this a bit naive to ask them.

I'm going to make every effort to keep up, but I am worried.

I'm doing an soa to post on here, in the hope of advice, but it's not ready yet

Before asking them to do this - please make sure you understand the full consequences of them stopping the interest charges and the other knock on impacts which you may or may not currently know.

As recommended above, please use the connections at the top of this page to obtain some good independent advice.

Good luck.

Igiveup_2

Thanks guys, I'll get the templates and give it a try, when I've checked the consequences