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Credit Card Interest - Why do they STILL put it ON!!! AAAHHH
Comments
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Dylanwing - He is being given a second chance - the chance to repay monthly what he owes.
They could ask him to repay in full immediately as I suspect he has broken the T&C of his card.
OP doesn't feel he is been given a fair choice because the interest charged is eating into what he pays each month - so what - its the same for everybody else - I pay fair rates on my mortgage, Personal Loan and credit card.
Why does OP think he is so special that he warrants special attention??
If he really wants to pay off the debts he incurred perhaps he should sell off some of the goods he used the credit card to buy in the first place.0 -
Rubbish. Just because theft-by-high-interest-rates-and-manifestly-unbalanced-Ts&Cs-buried in-tiny-small-print-that-even-folks-who-used-to-read-and-write-it-for-a-living-(like me)-struggle-to-understand is (becoming) the way of the world does not make it right.
What I find grossly unfair about the OPs situation is the s/he is essentially trapped into paying what I assume is an extortionate interest rate to one creditor.
Yes, s/he got him/herself into this situation (which s/he freely admits) but s/he should be allowed to find the best way out of it. I have nothing but contempt for freeloaders, whingers and people who think the world owes them living, but none of that applies to the OP.
S/he is being disgustingly and disgracefully gouged by a credit card company who are using her/his misfortune as an opportunity to enrich themselves. I imagine the OP doesn't even necessarily want a 0% card, s/he just wants to be able to pay a reasonable rate rather than what appears to be an effective 66% he is paying now (pays £300, pays off £100).
I don't know anything about debt, I'm afraid - I don't have any. But here's a couple of thought, all of which might be naïve or nonsense because of my inexperience in this area, but they are offered in good faith:- Is it not possible to renegotiate your contract with the CCCS? All contracts are capable of being renegotiated, even if it means technically breaching it in the first place.
- Is it possible for you to simply stop paying this bunch of b*stards and let them get a CCJ against you if they can? Would a court not acknowledge that an effective interest rate of 66% is so unfair, and the refusal of the company even to engage you in discussions is good reason to set up a more equitable payment arrangement?
- You DO, it seems, have £300 a month to "spare" in paying off this debt - I can't think how myself since I don't borrow, but isn't there a way you can borrow a sum of money with a repayment of £300/mo that would pay off this card? I appreciate it's hard for you to get credit - but is it impossible? I’m sure the knowledgeable folks in here will be along soon with some suggestions .....
[FONT="]*By email preferably to save the cost of an envelope, paper, toner (or old fashioned ink) and a stamp, let alone the wear and tear on shoe leather and knee and hip joints in the elderly[/FONT]
I will make an exception in your case.
You talk a lot of twaddle - you are the Weakest link - GOODBYE:D0 -
We are supposed to be nice to all MSE'rs.
I will make an exception in your case.
You talk a lot of twaddle - you are the Weakest link - GOODBYE:D
What? Does anyone understand this?
I'm supporting the OP totally, I'm being beastly to the finance companies, yet ejones999 thinks I'm not being nice to MSE'rs? Maybe ejones999 hasn't read Statutory Instrument 1999 No. 2083: The Unfair Terms in Consumer Contracts Regulations 1999: I have.
I just don't understand where ejones999 is coming from: does anyone?
I am totally a) baffled and b) disillusioned.
The world I grew up in has clearly changed - nearly beyond recognition - and not for the better. I don't know if that's good or bad, I do know that it's sad.0 -
ejones - Sorry that I cannot match Egamar in replying to you! Before it happened to me, I never understood debt, once it happened to me, I realised how easy it is, and it is not always just extravagent spending on luxuries. In a perfect World, I might agree with you, but it is not a perfect World, and sometimes people need help in sorting out their mistakes. I don't know of OP's circumstances, but in my case, had the Banks not been amenable, it would have broken up my family, probably cost me my job, and who know what would have happened to me? Yes, the Banks may have T&C's, but the social and human cost of not looking at a solution far outweigh any potential Bank loss of profit.
The other point is quite simple. On daytome TV, particularly after a debt-related death, the Bank Execs all assure us that, if you talk to the Bank, they will do there best to help and find a solution. They always imply that help was 'just a phone call away'. Or is it??????0 -
I'm beginning not to like this place very much.
I'm discovering that there are a bunch of folks who have been given a hard-time at some point by a finance company or a bank - probably having made bankrupt and struggling to deal with the ignominy of that - and they seem hell-bent on trying to make everyone else who's a bit vulnerable share their pain and shame.
That's pretty sick when you think about it: what kind of person kicks someone when they're down and are trying to help themselves back to their feet?
There are some genuine folks around obviously, but my gorge is rising ....0 -
OP i think it might be worth checking with the company that 'refuses' to freeze your interest if they have actually recieved the letters sent. Did they send a reply? Make sure the request is being sent to the correct address as most CC companies have two addresses - Payment and Admin.
I agree that CC companies and banks are greedy (more so banks) but just as they are greedy, the customers are stupid. £4000 interest is the eqivilent of a £20000 balance at 20% apr (of course it might not have been that amount the whole time).
As said in a previous post, try selling whatever u bought with the card that you dont need.0 -
I'm discovering that there are a bunch of folks who have been given a hard-time at some point by a finance company or a bank - probably having made bankrupt and struggling to deal with the ignominy of that - and they seem hell-bent on trying to make everyone else who's a bit vulnerable share their pain and shame.
In answer to an earlier post, yes I understand ejones. Don't always agree, but a decent poster with a good sense of humour. As for the World changing for the worse, I totally agree, but when the populus can get worked up about the death of an ex-princess that they never knew, or a reality TV show, but not by PFI, MP's expenses or Corporate greed, what hope of changing things?
Love and peace to all on this thread........0 -
Dylanwing - Thanks for that. The £5 is in the post (somewhere)!0
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