Credit cards: will they write off debts?

julia88

I am neither being made nor self-bankrupting - yet. I have paid minimum payments to date so my credit file is sparklingly clean. I am facing the fact that I can't possibly continue to borrow from Peter to pay off Paul so I need to "shut down" the payments. Do I stop completely and await court action, pay £1 nominal payment or send a begging letter in the hope of debt cancellation or what?

PS: Income £400, minimum repayments £700

PPS: I am awaiting a ring-back from the CCCS re advice on Friday

immoral_angeluk

First of all you need to do an SOA to see where you stand financially. You can kind information on SOA's in the 'first time posters' thread at the top of the board.
The debts won't be wiped off. The best thing you can do is contact the companies and let them know that you are having trouble and seeking CCCS advice, and offer them nominal £1 payments until you have a better idea what the CCCS will advise.