Freezing interest

jocker01

Hello

We have left the UK permanently with no intention to return, We are paying off our credit card debt slowly but most of the payment is being eaten by interest. Are there any templates to request credit card companies for interest freeze? What other options do we have, please? Thank you.

Jocker01

kaMelo

jocker01 said:

Hello

We have left the UK permanently with no intention to return, We are paying off our credit card debt slowly but most of the payment is being eaten by interest. Are there any templates to request credit card companies for interest freeze? What other options do we have, please? Thank you.

Jocker01

You can't ask them to freeze interest just like that, only by explaining you are struggling to pay back what you owe will they consider freezing interest or just stop paying until they default the account which will also freeze the interest.
Although bearing in mind what you have written that I have bolded above, why are you paying anything at all?

AmberDepp

kaMelo said:

jocker01 said:

Hello

We have left the UK permanently with no intention to return, We are paying off our credit card debt slowly but most of the payment is being eaten by interest. Are there any templates to request credit card companies for interest freeze? What other options do we have, please? Thank you.

Jocker01

You can't ask them to freeze interest just like that, only by explaining you are struggling to pay back what you owe will they consider freezing interest or just stop paying until they default the account which will also freeze the interest.
Although bearing in mind what you have written that I have bolded above, why are you paying anything at all?

Having no intention to return is not the same as "we will never return."

[Deleted User]

Why are people obsessed with templates? They make your request less likely to be successful as they inevitably include incorrect / not applicable things.

Just write to the bank about a financial hardship case and explain what you are paying vs what your interest is eating up, if you leave and aren't planning on coming back at least for 6 years then the credit rating being hit won't make any difference

born_again

jocker01 said:

Hello

We have left the UK permanently with no intention to return, We are paying off our credit card debt slowly but most of the payment is being eaten by interest. Are there any templates to request credit card companies for interest freeze? What other options do we have, please? Thank you.

Jocker01

Best bet is to talk to them. 
I take it that you are no longer using the CC in your new home country. Are they aware you have moved? 
The only real reason interest gets frozen is when people are having payment issues & are put on payment plans. Not sure that they would do that for you. But if you do not ask you will not find out.

callum9999

AmberDepp said:

kaMelo said:

jocker01 said:

Hello

We have left the UK permanently with no intention to return, We are paying off our credit card debt slowly but most of the payment is being eaten by interest. Are there any templates to request credit card companies for interest freeze? What other options do we have, please? Thank you.

Jocker01

You can't ask them to freeze interest just like that, only by explaining you are struggling to pay back what you owe will they consider freezing interest or just stop paying until they default the account which will also freeze the interest.
Although bearing in mind what you have written that I have bolded above, why are you paying anything at all?

Having no intention to return is not the same as "we will never return."

And not everyone is comfortable with theft! 

kaMelo

It's a business transaction that can no longer be fulfilled, hardly theft. 
On a moral level I'd agree with you, pay your commitments. But this isn't about morals it's about the laws regarding loans and not paying back what you owe is, despite what you may think, not illegal.

jocker01

No I didn't use my UK credit card in my new home country. I left some money behind to cover payments until now, nearly 3 years' worth of expenses. I would rather speak with credit providers to arrange some payment plans.

fatbelly

jocker01 said:

Hello

We have left the UK permanently with no intention to return, We are paying off our credit card debt slowly but most of the payment is being eaten by interest. Are there any templates to request credit card companies for interest freeze? What other options do we have, please? Thank you.

Jocker01

Ask them to freeze interest. If they refuse, this is the relevant template

https://nationaldebtline.org/sample-letters/freeze-interest/