credit card interest

I'm getting threats from my bank to pass my credit card debt to Triton. My question is if I follow that route would they freeze the interest, anyone any advice whether I should stick with my bank and pay interest only until times get better if they ever do, not much hope there, or doing go with the debt collectors? Help....

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  • MallyGirlMallyGirl Forumite, Senior Ambassador
    5.9K Posts
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    there is no guarantee that they will freeze the interest - even if you are in a DMP. The debt collectors will also start adding fees. I would move heaven and earth to stay away from debt collectors if I were you.
    A SOA might help you get some constructive help
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  • Is this your only debt? A bank is more likely to freeze interest if you supply them with an Income /Expenditure sheet that will show that you can't afford more than you are offering. Also they want to know that you arent paying some other creditor in full.
  • are you with stepchange? if not i would strongly advise you to get in touch with them asp.we are just about to start a dmp with stepchange.like a lot of people on this forum have advised me to trust stepchange
  • TixyTixy Forumite
    31.5K Posts
    How many payments have you missed on the debt?
    What is on your credit file currently in relation to this debt? missed payments? a default or what?

    In reality you probably won't get much choice as to whether the account is passed to triton or not. If you can pay the arrears in full they may not pass it over, if you cannot then they likely will.
    A smile enriches those who receive without making poorer those who give
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