credit card payment holiday?

it_aint_all_good

Hello,

am new to this forum. Just wondered if anyone had some advice about how to get credit card company to agree to a payment holiday?
Have got myself into difficulty after being made redundant, but thankfully am back working again - though will take me a few months to get back on track.
I would ideally like 3 months off from paying the credit cards (by which time I would have cleared my smaller interim debts which I accumulated whilst unemployed)
Is a payment holiday even possible? How best to ask?
thanks in advance

ILW

It will show as a default.

exel1966

Card companies don't do 'holidays' as such. The last thing you should do is alert any card company to having potential payment problems. Before you know it you'll end up on a payment plan which will be recorded and will hinder your credit history. DO NOT do it unless you already have a bad history in which case it will hardly matter.

Find some other means to support the payment, make cutbacks if necessary or let your other 'smaller interim debts' wait where possiible.

chattychappy

Agree with the above comments.

If you are convinced that you will be back on track soon, can't quite make the minimums in the very short term and have spare limit, then you could consider taking cash advances to make up the difference.

Cash advances are expensive and this is obviously a tac-tic fraught with dangers. But it could avoid you getting late payment markers and trashing your rating. (Cash advances are also logged and are probably negative, but nearly to the same extent.)

A friend of mine did this whilst finishing a course before taking up a job. It was a bit hairy, but once re-employed he quickly got on top of things again.