Credit Card Charges.

AlexLK

I am trying to face up to my debts after a few years of trying my hardest to ignore them.

Today I opened the ignored bills to find thousands of pounds worth of charges and interest added to the credit cards. Now, I know I've been stupid to ignore paying them but is there anything I can do about the charges?

Two of the cards are not even being dealt with by the bank anymore and have gone to a collection agency.

Mrs_A_2

I don't know if it applies to credit cards but I've previously worked in debt collection for a catalogue. Either by law, or company policy (I'm not sure which) we couldn't 'make' anyone pay the late payment charges they incurred - if they paid including them, fine, but if they said 'I'm paying the payment but I'm not paying the late fee's' then we would just take that payment and clear the rest as it wasn't worth the hassle.

StuC75

If your credit file is trashed, are you in a position offer Full & Final Settlement..

How many years is a 'Few years'.. Anywhere near Statute Barred (head back in the sand for few more years)....

What proportion of the balance is charges?

Failing that what are you reasonable able to afford (head out a sand and acknowledge the debts)..

StuC75

hmmm just seen the other post too...

https://forums.moneysavingexpert.com/discussion/4755748=

AlexLK

Mrs_A wrote: »

I don't know if it applies to credit cards but I've previously worked in debt collection for a catalogue. Either by law, or company policy (I'm not sure which) we couldn't 'make' anyone pay the late payment charges they incurred - if they paid including them, fine, but if they said 'I'm paying the payment but I'm not paying the late fee's' then we would just take that payment and clear the rest as it wasn't worth the hassle.

Would the late payment charge have accrued interest too?

AlexLK

StuC75 wrote: »

If your credit file is trashed, are you in a position offer Full & Final Settlement..

How many years is a 'Few years'.. Anywhere near Statute Barred (head back in the sand for few more years)....

What proportion of the balance is charges?

Failing that what are you reasonable able to afford (head out a sand and acknowledge the debts)..

I don't quite understand some of the terminology you are using.

In answer to the questions:

- I've no idea if my credit file is trashed, I presume so. However, I also have a mortgage and a bank loan, neither of which I am behind on.

- Around two years for the two that have been sent to the agencies. Just under eighteen months for the other two.

- Not far from a third of the balances. I presume by charges it means the late payment fees and interest?

- As you've seen my other post you now know I've not got any spare cash in which to start paying these cards off with.

Mrs_A_2

AlexLK - It was more £15 added every week a payment was missed etc, rather than an interest based charge.

AlexLK

Mrs_A: The late payment fees alone don't add up to much (£12 per month) but the interest charged is frankly ridiculous.

Mrs_A_2

AlexLK don't give up hope - I'm sure there is something. Try posting this under credit card section too, you might get some more advice on it.

AlexLK

OK, thank you.