Freezing Credit Card interest whilst a student

StudentDebtWoes

Hi all,

So I have a relatively large debt with Santander Credit Cards I was paying off relatively well whilst working, however, I have gone back to university and do not have the same funds as I used to. It's only a year course, but has anyone been in a similar situation and been fortunate enough to have their credit card interest frozen temporarily? I've tried looking at their website on who to contact (preferably not by phone) but to no avail.

Any ideas? I've got about £4000 that I'm paying about £110 per month but I just can't afford that right now.

Thanks for any help

[Deleted User]

If you can demonstrate that you are unable to pay, then yes. This may mean missing some payments and obviously will have a major impact on your credit files, but that may be something you can live with.

sourcrates

Hi,

They may or may not freeze interest, you simply write to there customer services address, explaining your circumstances, and ask them polightly to help you out.

It's entirely at there discretion though.

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StudentDebtWoes

Zx81 - Yeah I'd rather not have to do that, but it may come to it.

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Arleen

It is discretionary whether they will do it or no. Try putting yourself in their shoes and imagine how many stories like that they must receive every week, and it's hard to fault them to not giving every single one of those a major break.

But even if they do, it still will cause massive havoc on your credit file if you won't keep up with the payments. Have you considered getting a part time job alongside the studies, just to pay the debts off?