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Repayment Question(s)
RickS650
Posts: 2 Newbie
in Credit cards
My question is twofold. Firstly I got into difficulties about 5 years ago and had to make repayment arrangements with my 3 CC companies. My credit score is trashed and that is something I have to live with. My repayment to each company is £100 per month, and I have been managing this very successfully. I now owe £2700 to each company. If I could find the money what is the likelihood of the companies accepting a lump sum of, say £1500, to close the debt off? If I could get a card with a limit of £4500 and 0% interest and pay £300/month I could clear this in 15 months rather than the 27 months, what card should I try and apply for?
Many thanks
Many thanks
0
Comments
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My question is twofold. Firstly I got into difficulties about 5 years ago and had to make repayment arrangements with my 3 CC companies. My credit score is trashed and that is something I have to live with. My repayment to each company is £100 per month, and I have been managing this very successfully. I now owe £2700 to each company. If I could find the money what is the likelihood of the companies accepting a lump sum of, say £1500, to close the debt off? You could ask them - though I suspect their answer may well be "If you can find a lump sum of that amount you can afford to pay off the whole debt". But no harm in asking. If I could get a card with a limit of £4500 and 0% interest and pay £300/month I could clear this in 15 months rather than the 27 months, what card should I try and apply for? The chance of you being accepted for a 0% card with a trashed credit history is close to zero.
Many thanks
Replies above, hope this helps.0 -
My credit score is trashed and that is something I have to live with.
You do not seem to be willing to live with it.
While you have three defaulted CC with a balance of 8k still outstanding, nobody will give you a card with 4.5k limit and a promotional rate of 0%.
You have about as much chance getting one of those than finding a pot of gold at the bottom of a rainbow.0 -
Ah yes, but my wife's credit score is perfect.......0
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