i want to freeze the interset they charge

Marmalade

hiya, can anyone advise please, we are in a predicimante. our credit card says its fine to pay off 60 quid per month but they charge us 56.18 interest !!!!!! i'm going mad, can i get them to stop charging me interest?
please help

tom188

Not unless you are in default.

After all interest is how they make their money, can you not try transferring somewhere else? Have you tried asking them to reduce the rate? Have you missed payments in the past?

Marmalade

well to be honest i don't want to default, i'm working 49 hours a week to keep afloat. thanks for your advice thou i will ring and ask, we haven't missed a payment YET !

tom188

You may want to visit the Debt Free Wannabe board for advice on saving money/cutting your expenditure so that you can throw more money at your debt.

Gordon_the_Moron

Also if £60 is the minimum payment DON'T MAKE THE MINIMUM PAYMENT!!!!!

PAY £60 PER MONTH EVERY MONTH, THE MINIMUM PAYMENT WILL GO DOWN AS THE DEBT DOES BUT THE LONGER YOU TAKE TO PAY IT OFF THE MORE INTEREST WILL COMPOUND.

Unless you have more expensive debts (I hope not in this case) or the debts are 0% (they aren't) NEVER EVER EVER EVER EVER EVER EVER EVER EVER EVER EVER EVER EVER (you get the idea) MAKE THE MINIMUM PAYMENT EVERY MONTH.

Da Moron