• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Minimum Payments

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Minimum Payments

    Im struggling to pay my credit card as they keep adding interest.
    Can i offer to pay a minimum payment of £10 per month?
    And can they refuse this?
    Any letter templates on here to write to them advising im struggling and to offer a payment of £10?

    Thanks in advance
    x
    Tags: None

  • #2
    Re: Minimum Payments

    Originally posted by angelsta904 View Post
    Im struggling to pay my credit card as they keep adding interest.
    Can i offer to pay a minimum payment of £10 per month?
    And can they refuse this?
    Any letter templates on here to write to them advising im struggling and to offer a payment of £10?

    Thanks in advance
    x
    HI

    Is this alikely to be short or long term problem?

    If this is a temporary blip you may find the creditor will accommidate a temporary reduction in interest rate and suspend charges, it greatly depends on the creditor in question, it is always worth ringing them and finding out. The worst thing you can do is just pay the smaller amount and say nothing, they will add default charges and interst, despite your best efforts.

    If you have a long term problem i would recomend contacting one of the free debt advice providers, with the aim of setting up a DMP, Payplan or CCCS, you can google their web page or someone may come along and give you the link.

    Peter

    Comment


    • #3
      Re: Minimum Payments

      no it just a temp blip...

      Comment


      • #4
        Re: Minimum Payments

        I'd write to them and explain your situation along with your repayment proposals -ie- how long it will be before you go back to the correct payment. Try to make this as short a time as possible, as that way you may avoid the default previously mentioned and thus maintain your credit record.Don't make any promises you can't keep to though as this will do you no favours at all.

        Comment

        View our Terms and Conditions

        LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

        If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


        If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
        Working...
        X