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What's the point of PP?
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J-Pop
Posts: 91 Forumite
in Credit cards
Hello,
I have recently been made redundant and i have PP on all my debts....
On my Barclay credit card i always paid double the minimum payment was but now i am unemployed only the minimum payment is made and interest is still added each month.
Whats the point in paying PP?......in a years time if i am still unemployed....only the interest would be paid.
I think i should have done what other people do and get citizens advice to help me sort out the debt and get the interest frozen?
Thanks for any response.
I have recently been made redundant and i have PP on all my debts....
On my Barclay credit card i always paid double the minimum payment was but now i am unemployed only the minimum payment is made and interest is still added each month.
Whats the point in paying PP?......in a years time if i am still unemployed....only the interest would be paid.
I think i should have done what other people do and get citizens advice to help me sort out the debt and get the interest frozen?
Thanks for any response.
0
Comments
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The point of PP is to help you out during short period of unemployment....why should they freeze the interest.0
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My bank of Scotland and Egg CC has the interest frozen on it.
Just wondering why my Barclay does not do the same.0 -
Barclays won't freeze the interest on your card if you have PPI, as they have no need to as your payments are being met.
On the plus side it also won't be negatively affecting your credit file, whereas the debts who have agreed to freeze interest will likely either record a default or an arrangement to pay on your credit file.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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