J D Williams woes

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rippedofagain
rippedofagain Posts: 3 Newbie
in Debt-free wannabe
I have been with tem 4 years, I pay £100 a month they charge me £62 credit charge a month! my credit limit is £3000, I owe £1500. it's a lose lose situation. just want to clear this as they are making a killing of me.

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  • MallyGirl
    MallyGirl Posts: 6,626 Senior Ambassador
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    rippedofagain wrote: »
    I have been with tem 4 years, I pay £100 a month they charge me £62 credit charge a month! my credit limit is £3000, I owe £1500. it's a lose lose situation. just want to clear this as they are making a killing of me.

    you would be better off starting your own thread if you are after advice.

    Unfortunately, this sort of company lends to the people who are already struggling and charges enormous interest to cover the bad credit this leads to. Your only way to escape is to secure cheaper credit if you are able and use this to pay them off, or to pay more than £100 so that you make more of a dent in the balance each month
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  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    Moved to new post.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • fatbelly
    fatbelly Posts: 20,499 Forumite
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    rippedofagain wrote: »
    I have been with tem 4 years, I pay £100 a month they charge me £62 credit charge a month! my credit limit is £3000, I owe £1500. it's a lose lose situation. just want to clear this as they are making a killing of me.

    Yes, and I've seen cases with JD Williams that are worse than that.

    If you've got any way of shifting the debt somewhere cheaper then that's the easiest option.

    Other than that, you may have to get them to default you, probably wait till they sell the debt or appoint a collector and pay them. But that will leave a mark on your credit file.

    If you have had a change of circumstances (illness for instance) you may get some concessions from customer service.
  • chrisw99
    chrisw99 Posts: 359 Forumite
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    Get a credit card, you can probably get a 0% offer and shift the debt.

    Even a normal credit card APR would be around 19%, probably less than half the JD APR.
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    rippedofagain wrote: »
    I have been with tem 4 years, I pay £100 a month they charge me £62 credit charge a month! my credit limit is £3000, I owe £1500. it's a lose lose situation. just want to clear this as they are making a killing of me.
    chrisw99 wrote: »
    Get a credit card, you can probably get a 0% offer and shift the debt.
    It would need to be a Money Transfer card though.

    https://www.moneysavingexpert.com/credit-cards/money-transfers/
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