Is it possible to get a rebate on Credit Card

PamelaMc0

I have paid the same credit card for the last 6 years and it is still at £6000, I have probably paid it of twice, can I request that I have actually paid it back to the credit card company, in the hope they will write the debt off? Also the card was taken out in 2004.

Please give me advise!

Watalie

PamelaMc0 wrote: »

I have paid the same credit card for the last 6 years and it is still at £6000, I have probably paid it of twice, can I request that I have actually paid it back to the credit card company, in the hope they will write the debt off? Also the card was taken out in 2004.

Please give me advise!

If you have paid it off twice, surely you must have ran it up twice?

Why would they write it off?

DizzleUK

Your post is a little light on detail, but I think what you mean is that you have had a balance of around £6000 and over the past few years you have been paying something near the minimum payment each month which is barely covering the interest and thus not reducing your balance?

If this is correct, then unfortunately you do still owe them the full balance regardless of how much you have paid over the years.

You can stop paying if you so wish. This will mean the debt will be passed to a debt recovery agent and will destroy your credit rating (whatever it may currently be). You will then have to make an arrangement to pay the debt with the DRA, but at least you will (usually) stop paying interest.

This route is NOT recommended by me.

Have you tried talking to the credit card company to see if there is some sort of arrangement to repay you can make?

Whatever you decide to do, the debt will not be written off. As I said, the balance IS what you owe.

Another option is to have a meeting with your local Citizens Advice Bureau to see if they can offer any help and perhaps contact the credit card on your behalf.

Sorry it's not the news you were hoping for.

DizzleUK

Watalie wrote: »

If you have paid it off twice, surely you must have ran it up twice?

Why would they write it off?

My understanding is that she means the total amount she has paid over the years would come to about twice the overall balance.

Watalie

DizzleUK wrote: »

My understanding is that she means the total amount she has paid over the years would come to about twice the overall balance.

Ah - I guess I misread!

PamelaMc0

Dizzleuk, thanks, thats exactly what I ment! Not that I had run it up 3 times???

Cheers