Default Interest

Dan_G_B

Hi Can anyone advise, my wife is repaying a credit card after she defaulted, she pays a fixed amount per month, but the balance hardly goes down as they are adding a lot of interest to the account every month, can they still do this, as I thought they account should be frozen once in default? can I claim back the interset? help please:(


All un sarcastic comments greatly appreciated..

InsideInsurance

Not sure where you came to that conclusion from? Never heard of it myself at all!

You can negotiate with them to freeze interest in exchange for whatever it is you are going to offer them but it isnt something that happens automatically. Most companies wont consider it until the account has defaulted.