Credit Card Arrears - Letters Suggesting If Things Are Not Resolved Soon. They May Want Full Balance

debtslave2024

I am in credit card arrears. The only solution to pay them was to find a second job, which I did after more than 100 applications and 6 months of job searching.

I finally got a job after all my efforts, and it is a bad one. Struggling supermarket taking it out on their minimum wage employees. I now have real doubts that I will get through the probation period, which ends in 6 weeks.

Some card companies are insisting I fill out a budget planner. However there is no point in my mind, as there is a high probability that I will not get through the probation period, and lose a large percentage of my income in 6 weeks.

I am getting letters from card companies, hinting if I do not get things fixed soon, they will want the “full balance.” Of course that is impossible.

Can they insist on the full balance, or is this just an intimidation tactic?

fatbelly

It's not necessary to have your life ruled by nonpriority debts.

If you want to work two jobs, fine. Enjoy the extra income.

If not, then you just need to have enough income (may include benefit income) to cover your essential expenses

If that means you can't pay the nonpriority debts, so be it. There are plenty of strategies for dealing with them.

Can they close and default your account? Yes, and they can then stop interest and charges.

sourcrates

OP has another tread running on same subject.