Advice credit card debt

I've been paying off two credit cards each month now through a management plan I set up. Id like to pay these off, I have some cash but it isn't quite enough to cover both, can I ask the companies to reduce the amount o owe to clear the debts?can

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  • McKneffMcKneff Forumite
    38.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper
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    Do you mean you have had difficulty paying them in the past or have defaulted on them. If yes, then there is absolutely nothing stopping you from asking them for a full and final settlement.

    Start at say 30% and see how it goes, but get everything in writing and make sure the words 'full and final settlement' are there.

    Good luck.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • edited 23 November 2012 at 9:36PM
    iaintwiaintw Forumite
    90 Posts
    edited 23 November 2012 at 9:36PM
    You can afford it or have a min payment.
    or asked from them to freze any interest when you have money issues
    this means that you can write a letter to your credit card company and ask for freeze interest when you pay them.

    all lenders including the banks have instructions from you because you have money problems and they can help you too with your management plan and what McKneff say too.
  • Yes I defaulted, got the interest frozen & agreed amount with company to pay monthly, thanks for advice
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