Question about rebuilding credit

Chrissee

I have had an agreement with my credit card companies for just over four years to repay debt after my home circumstances changed. I have been paying a nominal amount regularly but as I am mid fifties, single and earn just enough to pay my living expenses, I am thinking of asking my credit companies to write off the debt as there is very little chance of me ever repaying the full amount, and I do not or will not have a lump sum to offer to settle. Should I do this? I appreciate they will probably not agree as the amount is substantial.
Also I have checked my credit score with clear score and unsurprisingly it is 'poor', although for a reason I do not understand it has risen slightly in the last month. The site is suggesting I apply for a 'rebuild your credit' credit card. Should I do this although I technically I still have other accounts open. The debts from these however do not show on the clear score account.

Thank you for your help - I do not wish to do anything incorrectly or underhand and despite searching thoroughly I have not been able to find an answer online.

[Deleted User]

Chrissee wrote: »

Also I have checked my credit score with clear score and unsurprisingly it is 'poor', although for a reason I do not understand it has risen slightly in the last month.

Because the score is fictional. Ensure you ignore it, like a drunk on a train.

If you can get a new card, and use it responsibly, it will help you to build some credit history. However, your ongoing defaults will remain a major problem.