credit card persistent debt

ChillyP

Hi 

I received a letter earlier year regardng one of my cards, telling me that I needed to start paying more to avoid persistent debt. It's not a card that I have been prioritising ( I am snowballing) so I haven't really though much about it.  They said they would contact me again in 9 months which will be about November I think. 

I am now in a position with my debt snowball to start attacking this card. If I start to make overpayments at least, or above the suggested amounts, would this stop them from contacting me again? I find it all quite stressful

MorningcoffeeIV

If you increase your payments to no longer be in persistent debt, the letters will stop. 

It shouldn't be stressful though. It's just a legal requirement. If you were focusing on more expensive debts, that that was the right thing to do.

eskbanker

ChillyP said:

I received a letter earlier year regardng one of my cards, telling me that I needed to start paying more to avoid persistent debt. It's not a card that I have been prioritising ( I am snowballing) so I haven't really though much about it.  They said they would contact me again in 9 months which will be about November I think. 

I am now in a position with my debt snowball to start attacking this card. If I start to make overpayments at least, or above the suggested amounts, would this stop them from contacting me again? I find it all quite stressful

https://www.moneysavingexpert.com/credit-cards/persistent-debt-help/ explains the process, including timescales and so on.

ChillyP

Thanks for the replies. So I have now fixed my payment at a higher amount that will see my balance clear in 3 years. My worry is, they wrote to me 6-7 months ago and I have only just got round to upping the payments. They said that they would contact me again in 9 months ( around November) to tell me if I am on track or not. By that point i will have made at least 3 of the increased payments. Will that be enough for me to be on track to be our of persistent debt, or should I have been making the increased payments from when they first contacted me, 6ish months ago?

ebodman1985

That should be enough for you to be back on track. It sounds like you're committed to paying it off and 3 increased payments should be enough to show your bank that commitment. Credit card debt is so easy to fall into but so difficult to get out of. Stick to the plan. Good luck!

th081

I think the main tick the box is if you have spoken to them. So I would give them a call and say you have increased payments.