Can't meet minimum payments

Superheavy

Hi guys,

I was hoping that those of you who have been in trouble with CC companies before could give me a bit of a helping hand here. On the statements it always says that if you can't meet the payments then you should contact them to discuss it.

Can somebody enlighten me as to what happens when I do this? Basically I'm waiting for the sale of my old property to go through, so I can pay off my debts, but at the moment between mortgage and rent I'm not able to meet the CC payments.

Will they offer to freeze the interest and let me start actually paying off the debt rather than paying off the interest, or am I just being naive here?

I'm sure this question has been covered before, but I scrolled back through the last 20pages, and couldn't find the exact answer.

Many thanks in advance.

mrsmortenharket

Call them & explain the situation.

They may be able to put you on a short term plan to help you out if you know you can pay on the near future.

I know a bit about this so PM me if you like.

Lisa

Bismarck

Hi...is there anyway you can make some small transfers between the cards you have to make up the minimum payments.....not ideal but as a short term measure...you'd need to do it quick as they can take a few days...

Superheavy

Bismarck wrote: »

Hi...is there anyway you can make some small transfers between the cards you have to make up the minimum payments.....not ideal but as a short term measure...you'd need to do it quick as they can take a few days...

Thanks for the suggestion, but unfortunately there's a minimum of £200 on the BT's, and I don't have that much credit available on any of the cards. I'm pretty much resigned to having to tell them I can't pay the minimum payments. (£80 and £70 respectively). Was just hoping to find out what I can expect.

MJI1962

I hope MBNA are not involved or you will get bombarded with phone calls

Superheavy

MJI1962 wrote: »

I hope MBNA are not involved or you will get bombarded with phone calls

Are you psychic or what..... Thankfully, my phone's usually switched off and I'm at work a lot of the time....so they can really work my voicemail.

CLAPTON

can you approach your bank and get an increase in the overdraft or a bridging loan? pesumably you can show evidence that you are selling the property