Getting Credit card companies to freeze interest?

Glittermonkey

Hi all,

I havent been on here for a while and i've been slipping! Been spending occasionally on one credit card, not too much though which is good.

Last year was my lighbulb moment, i realised i owed £23700 on credit cards! I've just added them all up and i've paid off nearly £2k - i wish it was more but i cant be too hard on myself, im a single parent with 2 kids.

Anyway, its been a struggle and i've just entered my figures into the snowball calculator and im in the red for at least the next 6 months. I know i've been struggling to meet the repayments lately.

How easy is it to arrange with creditors to freeze interest? Im not on a DMP so will be writing to them myself.

I have cards with - HSBC, Egg, Capital One, Marbles, Barclaycard and BAA.

Anyone had experience with these lot, good or bad?

Im still going to be paying them each month, but if interest was frozen, it would help me out for the next few months until im back on track.

GM x

CLAPTON

i'm just a little confused, i'm not sure what you mean when you say that the snowball calculator says you're in the red for a few months


but :
if you are paying the minimum repayments each month then frankly it's very unlikley that they will freeze your interest ...well why would they...suppose everyone asked?

if however, you have a specific temporary problem (say) a redundancy but expect to get a new job soon, then they may very well do so.

do you have specific reason why you have difficilties now but your situation will improve in a few months?

Glittermonkey

Hello,

The calculator says that the minimum i can afford to pay wont cover the minimum payments for the next few months.

This has been due to a wage drop 3 months and increased childcare costs, which are starting to catch up with me. In a few months time, because i would of payed a little bit off the cc's, the snowball calculator changes from red as my minimum monthly amount covers the minimum repayments.

Im also due a payrise in March which im hoping is a few extra grand - not too sure yet but im hoping it brings me inline with my colleague who is on £4k more than me!

Im just hoping they would maybe freeze the interest now before i fall behind on my repayments, at the moment i am reaching the minimum payments but they are always late so then im hit with late payment fees.

Up until the last 2 months i've always paid the minimum or more on time.