Paying off my credit cards

edtheshed

I have credit card debts totalling around £19,000 spread over 3 cards.
These were accrued over a number of years, and when I separated from my wife 2 years ago, I retained the debts as part of our financial settlement.
I have been paying the minimum monthly payments since then, as I was previously wary of paying larger amounts until the divorce was settled (potential unexpected changes)
The debt itself is impacting tremendously on my monthly outgoings and as a result I have remortgaged my property to clear these debts.
The only problem is that now I have the funds in place (its taken a while!!) the debts are higher than the additional mortgage amount I have.
Are there any tips for discussing payments with the credit card providers, so that I can negotiate an improved settlement?

BugsyBrowne

edtheshed wrote: »

I have credit card debts totalling around £19,000 spread over 3 cards.
These were accrued over a number of years, and when I separated from my wife 2 years ago, I retained the debts as part of our financial settlement.
I have been paying the minimum monthly payments since then, as I was previously wary of paying larger amounts until the divorce was settled (potential unexpected changes)
The debt itself is impacting tremendously on my monthly outgoings and as a result I have remortgaged my property to clear these debts.
The only problem is that now I have the funds in place (its taken a while!!) the debts are higher than the additional mortgage amount I have.
Are there any tips for discussing payments with the credit card providers, so that I can negotiate an improved settlement?

I think you would of have to defaulted with the lenders b4 they discussed settlement figures or if your debt was sold on.

Could be wrong though.

planteria

i certainly wouldnt choose to default - would talk to them without delay.