We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
How do I get CC companies to freeze interest?
mogwai
Posts: 1,252 Forumite
Hi all! :j
Hope someone can help me out here - I am currently unemployed but have several credit card debts to clear. I keep reading about people getting credit card companies to freeze interest, or to agree to settlements. How do you go about doing this?? Can I just call them up and explain my situation or do I need a debt crisis company like the CCCS to do this on my behalf?
This is not really a SOA, but this is kind of my money situation at the moment:
Income: 300pcm
Outgoings pcm:
£200 - Orthodontist Payments til Oct
~£100 Credit card payments
£80 Driving lessons
£50 mobile phone (on 18 month contract)
?? general living expenses (I have moved home, and so don't need to worry about domestic bills, rent etc. And I have stopped all unnecessary spending, like going to the movies, new clothes, eating out etc).
Credit cards:
£5700 MBNA 2.9%APR til Apr 2008 (limit is £5700)
£2941 Virgin 17.9%APR
£8641 Total CC debt
I am living off the 300pcm income above, as well as savings at the moment, but Im afraid I might not be able to sustain the payments above for long. It will be a few months til I can get a job, since I am writing up for my PhD. So what can I do in the meantime??
Help :eek:
Hope someone can help me out here - I am currently unemployed but have several credit card debts to clear. I keep reading about people getting credit card companies to freeze interest, or to agree to settlements. How do you go about doing this?? Can I just call them up and explain my situation or do I need a debt crisis company like the CCCS to do this on my behalf?
This is not really a SOA, but this is kind of my money situation at the moment:
Income: 300pcm
Outgoings pcm:
£200 - Orthodontist Payments til Oct
~£100 Credit card payments
£80 Driving lessons
£50 mobile phone (on 18 month contract)
?? general living expenses (I have moved home, and so don't need to worry about domestic bills, rent etc. And I have stopped all unnecessary spending, like going to the movies, new clothes, eating out etc).
Credit cards:
£5700 MBNA 2.9%APR til Apr 2008 (limit is £5700)
£2941 Virgin 17.9%APR
£8641 Total CC debt
I am living off the 300pcm income above, as well as savings at the moment, but Im afraid I might not be able to sustain the payments above for long. It will be a few months til I can get a job, since I am writing up for my PhD. So what can I do in the meantime??
Help :eek:
We got rid of the kids. The cat was allergic. 
Debt at LBM (Sep 07): £13,500. Current debt: [STRIKE]£680[/STRIKE] [STRIKE]£480[/STRIKE] [STRIKE]£560[/STRIKE] [STRIKE]£13[/STRIKE] £0 overdraft
Current aims - to start building up savings
1st £1000 in 100 days - £1178.03 2nd £1053.38/£1000 3rd £863.59/£1000 
:j
Debt at LBM (Sep 07): £13,500. Current debt: [STRIKE]£680[/STRIKE] [STRIKE]£480[/STRIKE] [STRIKE]£560[/STRIKE] [STRIKE]£13[/STRIKE] £0 overdraft
Current aims - to start building up savings
1st £1000 in 100 days - £1178.03
2nd £1053.38/£1000 3rd £863.59/£1000 :j
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards