Credit Card Help

LoTTeBoXeD

Hi i have a credit card with Egg Bank and the total amount i owe is £848 which is not a great amount but near end of last year i found myself without employment. I am currently paying the minimum off each month as cannot afford anymore, and my current account's overdraft is maxed out at £950, i have no other savings and have been recieving job seekers allowance, and this is what i have been using to pay back the minimum repayments leaving myself with virtually nothing to survive on. I am pretty sure that the credit card was taken out over 4 years ago, is there any way to get this credit card amount written off? Many thanks

Money_Man

yes of course there is - I will pay it for you if you like!

would it not be easier to try and find some work?

bengalknights

No they wouldnt right the amount off unless of course you defaulted and disappeared for 6 years at which point it would be passed on to debt payment companys to chase you constantly.You could always visit a debt planning agency who can arrange some sort of agreement between you and creditors.

Money_Man

bengalknights wrote: »

No they wouldnt right the amount off unless of course you defaulted and disappeared for 6 years at which point it would be passed on to debt payment companys to chase you constantly.You could always visit a debt planning agency who can arrange some sort of agreement between you and creditors.

do you really think that is the correct advice for a balance of £800?

bengalknights

Money_Man wrote: »

do you really think that is the correct advice for a balance of £800?

I thought the debt was £1800 with the overdraft taken into account so a DMP would be the best way to go as they can arrange suitable repayments.

jonesMUFCforever

It seems good advice to me - get help now from CAB or the National debt helpline before the debt escalates due to missed/late payments.

LoTTeBoXeD

Thanks guys and to Money Man what they hell do you think im doing! Im not sitting on my hands doing nothing i have been looking for work for last 3 months except i need over 30 hours minimum and most jobs out there that im qualified for are part time and under 30 hrs. So as yet still without work so was looking for options not criticisms, thanks anyway.

jonesMUFCforever

Good for you but surely part time is better than JSA?

Money_Man

LoTTeBoXeD wrote: »

Thanks guys and to Money Man what they hell do you think im doing! Im not sitting on my hands doing nothing i have been looking for work for last 3 months except i need over 30 hours minimum and most jobs out there that im qualified for are part time and under 30 hrs. So as yet still without work so was looking for options not criticisms, thanks anyway.

What you are doing is trying to write off a debt you are responsible for paying - hence starting this silly thread

Pheebs67

I'm afraid there is no simple 'off switch' just because you've lost your job.

If you're temporarily unable to service your debt, all you can do is contact your creditors and explain your situation to see if they're able to arrange a reduced payment plan until you find employment again.

Have you phoned either creditor to discuss options?

tara1082

Money_Man wrote: »

What you are doing is trying to write off a debt you are responsible for paying - hence starting this silly thread

This person is coming here for help,not for your stupid comments. Keep them to yourself if you got nothing good to say.

Anyway a DMP could help but it would impact your credit rating,could you not get help from friends or family until your in a position to pay them back?