Agreement with Credir Card Providers

J_V

Hi,

Just wanted to know if, instead of going to places like CCCS someone has been in contact with credit card companies if they have been struggling with keeping up with repayments.

I am thinking of approaching my credit card companies to ask if they can either stop the interest or suspend my account because i am starting to struggle paying my credit cards. Has anybody approached their credit card lenders?

Any one?

rayday2

I do my own plan and it has been successful all interest suspended and accepted payments but it has the same result as CCCS. I am a control freak I like to know whats happening so sorting things out myself is ideal. It really depends on what kind of person you are as to what works for you if you are struggling.

Take a look at national debtline website I found this a great help when I was starting out.

woodybuzz

Interesting - I have considered doing this, i.e. writing to all (4) my credit cards and asking them to accept lesser payments and to freeze interest, but it sounds too easy and too good to be true - assuming they accept.

How did you word the letter and were the payments reduced by much? Is it a DMP in all but name? How long will this last? Did you omit any creditors?

Sorry to ask so many questions, but I don't really want the formality of a DMP and this would be ideal.

I presume you can call in CCCS if it all goes pear shape?

An earlier thread tried the same as you and was told "no" - is there any ogic to their decisions?

Ta!