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Advice on 'Offer of payment' on credit card needed
twists_and_turns
Posts: 27 Forumite
in Credit cards
Hi,
I've got an outstanding balance of almost £10,000 on one of my Credit Cards at the moment ... it's got to a point where I'm paying £150 a month in interest, with a minimum repayment of £200 a month and i am no longer in a position where I can afford to keep up the minimum repayments.
I've been looking at several options
Does anyone know if I can make an 'offer of repayment', say £50 a month and have the interest frozen ... I rang up the Credit Card company some months ago about this and they seemed to imply that I would have to default (ie not pay on time) before I could make an offer of payment. Does any know if this is true?
Any advice on this greatly appreciated. Thanks
I've got an outstanding balance of almost £10,000 on one of my Credit Cards at the moment ... it's got to a point where I'm paying £150 a month in interest, with a minimum repayment of £200 a month and i am no longer in a position where I can afford to keep up the minimum repayments.
I've been looking at several options
Does anyone know if I can make an 'offer of repayment', say £50 a month and have the interest frozen ... I rang up the Credit Card company some months ago about this and they seemed to imply that I would have to default (ie not pay on time) before I could make an offer of payment. Does any know if this is true?
Any advice on this greatly appreciated. Thanks
0
Comments
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Doing this will seriously mess up your credit file.
You will be best to post on Debtfree Wanabee for advice on your situation xGone ... or have I?0
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