Arrangements to Pay MBNA and Capital One

feelclueless1

I have quite a bit of CC debt. In June 2010, I contacted MBNA and organised an arrangement to pay as they were charging me 35% interest and I couldn't keep the repayments up. I currently pay and have been paying £256 per month and the interest is frozen.

I have just left work on maternity leave and I will only be earning SMP which is 1/4 of my previous salary so I called MBNA to say what was happening and asked whether for the duration of my maternity leave which should be around the next 8 months, I could reduce my payments to £150 because I just can't afford the £256 on top of everything else I have to pay.

The lady on the phone basically said tough and advised that they wouldn't enter into any further negotiations with me and if I couldn't afford to pay it, don't pay it and they would catch up with me eventually and register a default then a CCJ eventually!

Surely that's not best advice from them and I don't want the stress of being harrassed (I have only ever missed 1 payment with them and I was hunted down like a criminal!!) and I am willing to pay and can pay something just not the full amount.

I am about to call Capital One to discuss a payment plan with them now (I am not on one currently with them)

Anyone have any experience of this and what the best way to go about it all is?

Thanks so much

pure_dead_dopey

DON'T speak to them on the phone, write and tell them what you can afford, making sure you can afford it.

sickasachip13

I agree with Dopey but would also say that you might want to give one of the debt charities a ring for some impartial advice /suggestions - I can really recommend CCCS http://www.cccs.co.uk/ and there's also National Debtline who are also great. They both have websites too.