Lloyds TSB Platinum Card Worries - Help Needed

McWorried_2

Hi,

I'm new here, but am hoping someone may be able to offer me some advice. My wife currently has 15K owing on a Lloyds TSB Platinum card.

Due to the fact my wife no longer works as she is now registered disabled, we are struggle every month to make the minimum payment required, however, we have yet to not make the minimum payment in time.

The credit card was taken out a time when my wife worked and we have, in the past, been fortunate enough to pay the card off in full. However, when she got ill and we lost her income, we have survived every month due to the card and subsequently we have run it up again.

Our current minimum payment on this card alone is £350.00+ per month, which, as I said before, leaves us with little to no spare money every month after normal monthly expenses.

She would like to be able to write to Lloyds and offer them a lesser sum every month, of, for example £150.00, which is a much more manageable sum.

We also have an unsecured loan and an Egg Card that we pay out on every month, but if we could just reduce the payment to Lloyds, we feel we would not struggle and worry every month.

Can anyone here please advise how we can construct a letter to Lloyds that may convince them to accept a lower offer?

January's payment be the first payment we ever miss otherwise.

Any help or advice gratefully received.

Many thanks.

welshmoneylover

McWorried wrote: »

Hi,

I'm new here, but am hoping someone may be able to offer me some advice. My wife currently has 15K owing on a Lloyds TSB Platinum card.

Due to the fact my wife no longer works as she is now registered disabled, we are struggle every month to make the minimum payment required, however, we have yet to not make the minimum payment in time.

The credit card was taken out a time when my wife worked and we have, in the past, been fortunate enough to pay the card off in full. However, when she got ill and we lost her income, we have survived every month due to the card and subsequently we have run it up again.

Our current minimum payment on this card alone is £350.00+ per month, which, as I said before, leaves us with little to no spare money every month after normal monthly expenses.

She would like to be able to write to Lloyds and offer them a lesser sum every month, of, for example £150.00, which is a much more manageable sum.

We also have an unsecured loan and an Egg Card that we pay out on every month, but if we could just reduce the payment to Lloyds, we feel we would not struggle and worry every month.

Can anyone here please advise how we can construct a letter to Lloyds that may convince them to accept a lower offer?

January's payment be the first payment we ever miss otherwise.

Any help or advice gratefully received.

Many thanks.

Right, first things, have you been on the benefits board to make sure you are receiving all the benefits you are entitled to?
Secondly, have you posted a SOA on the debtfree board?

There's some experts on there who can trim your monthly outgoings so you may have 'extra' money to pay the debt off.

Thirdly, have you cut the cards up?

McWorried_2

welshmoneylover wrote: »

Right, first things, have you been on the benefits board to make sure you are receiving all the benefits you are entitled to?
Secondly, have you posted a SOA on the debtfree board?

There's some experts on there who can trim your monthly outgoings so you may have 'extra' money to pay the debt off.

Thirdly, have you cut the cards up?

Thanks for the response.

First one - Yes, we have. Currently having to wait to see whether DLA will be renewed or not, as we have to reapply again at this moment in time.

Second - Haven't yet, but, I'll be honest - don't know what one is (why lie?)

Thirdly - Yes, cut up so we can't use them anymore, but Min Payment is crippling us

the_insider

SOA is a statement of affairs. It's a breakdown of what you are spending each month and there are some really helpful posters on the debt free wannabe board who will suggest cuts you can make. Remember that any missed or reduced payments, even if they're agreed with Lloyds will affect your wife's credit score. The other option is for her to call the Customer Support Unit at Lloyds, they will give her advice on how much they will accept from her and the consequences. Call Customer Services, explain the situation and they will put you through.