Advise needed

Dorie

Is there anyone out there that can advise me, I have been paying off my Visa and Capital 1 cards for the last 5 years, The laugh is they are with Debt collectors and the interest has been stupid, My spending limit on visa was £250 yes £250 and my Capital 1 limit was £150, I still owe £590.13p on Visa and £350 on Capital 1, Can I claim my interest charges back, I have phoned both the debt co, and basically they laughed at me and told me I would not be able to claim a penny, Are they right or do I go for it, if so how???
Thank you for any advise or help you can give, Ive made myself ill working to pay off my bills and am chuffed that ive paid off £5000 in 2 years, only got £1,470 left to do

megpt

Hi Dorie,
Sorry to read about your problems. It would be well worth a visit to your local CAB. I'm not sure if you'd be able to reclaim the interest, but it should be possible to take action to stop them adding more. If you have a low income (and it's likely you do, given the low credit limits) then you may qualify for free help from a specialist money advice worker. Whatever you do, don't go for one of those friendly companies which offer to consolidate your debts into one easy-to-manage one with low payments. Most of them will take the majority of what you pay for themselves.
Get the CAB number from the phonebook - or visit www.citizensadvice.org.uk for details of your local bureau (and be aware that there are some unscrupulous companies out there with names very similar to ours).

Dorie

Thank you, I will do that to see if they can help, Yes I do have a low wage so work approx 50 - 60hrs a week but on the up side it is getting easier to manage my cash every month,

GeorgeUK

You can't reclaim interest from a credit card, but i believe it is possible to reclaim charges for letters sent out, late payment, exceeded credit limit and returned payments. These are the charges you should be able to reclaim.

Another thing though - the debts are now with a DCA. Have you asked for a copy of the CCA and Deed of Transfer? If they can't provide your signed copy of the ConsumerCreditAgreement, then you don't need to pay. There are templates on the site if you need them.