Managing debts after separation

lb7282

Hi,
I owe about £9000 on credit cards which was accrued during the time I was with my ex partner, they are in my name but he accepts joint liability. He is servicing a loan we took out for his business for £15000 which was also in my name. We had just bought a house with a deposit from his mum which he continues to live in. At the moment I am able to make minimum payments on the credit cards but would like to be paying some of the capital off. I cannot do balance transfers because of the amount I owe. He will eventually give me a small amount of money from the house, when he can afford it, which will pay off my debts but I would like to be doing something more positive than just paying interest at present. Is it worth contacting the credit card companies? I tried a debt advice site but because I am not in arrears and am able to make minimum payments, they say the companies won't help me.

EarthBoy

You can ask them to freeze the interest on the cards, by all means, but they aren't obliged to do it. If you aren't in arrears they might prefer you to keep making the minimum payments just so that you pay the interest, and they will get more from you in the long run. You'll have to ask them and see what they say. If they do agree to freeze the interest, they will certainly cancel the cards so that you can't use them any more.