Ge Capital / Store Cards

neeelix

hello to all on the site,
i need some advice, pls,
a friend of mine has a Debenhams' Store card which is administered by GE Capital, does anyone know if it is possible to contact GE and ask for the loan to be re-structured ? she is having problems paying off the 4k on the card -
what other alternatives might there be to try and reduce the size of the loan - she is resricted to repaying about two hundred punds a month
pls any suggestions ?
thanks
neeelix

sammyjammy

A credit card doesn't work like a loan, the payment due depends on the balance of the card, what is the minimum payment? 3%? If it is that works out around £120 a month, if she has £200 a month to repay it I'm not sure what the problem is, does she have other debts? You could point her in the direction of the Debtfree wannabe board to knock up a budget which will allow her to make her payments, she could also try a balance transfer to a Credit card as the interest rate on this will likely be a lot less than a store card which will enable her to repay it quicker, making sure she cuts up the Debenhams card and closes the account.

Sam