Credit card debt

123milly22

I wonder if i could get some advise please on the best way to get rid of my debt i have with a credit card
My balance is approx £4000 and i have missed approx 5 payments which has given me a debt of approx £550
Im really struggling with the repayments (obviously) and just wondered if I should try and pay this amount owed and then try and pay the monthly payments again or shall i let it go to debt collectors where a payment will be agreed and no further interest will be added
What would affect my credit rating the worst?

[Deleted User]

Speak to the card provider and come to an arrangement

A4445

Being 5 payments behind will have a massive effect on your credit rating. They may even default you. You need to speak to your lender and try to come to an arrangement.

The debt free wannabe forum would offer better advice than hear.

fatbelly

You would normally be defaulted at 3-6 missed payments. That mark stays on your file for 6 years.

If you currently have a clean file and want to keep it that way, then you need to act. Maybe BT the balance to another card, 0% if possible

If you already have defaults then one more won't make it a lot worse and is a simple route to getting interest and charges frozen.

Edi81

You don’t have £550 of debt. You have over £4000.

You need to get over to the debt free board, post an SOA and either reduce your other spending or increase your income.