Author Topic: can i do this. Credit card debt  (Read 6064 times)

hixyhicks

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can i do this. Credit card debt
« on: Dec 06, 2019, 09:11:02 AM »
Hello,i have about 15k of debt on Credit cards.Every month i pay of more than the minimum but not a lot more.I have cut up the cards so i can't use them anymore.My question is this.
I saw a video on youtube were a man says to put as much money as you can on the smallest card to pay that off quicker.Then once that's paid off put the money towards the next smallest and while doing this,pay the minimum on the rest.
My concern is if i do this I'm going to get letters saying I'm in persistent debt and they will freeze the cards.I don't mind that.As long as I'm paying the minimum will i be ok ? or can i get into problems.


Regards
hixy

Scrooge

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Re: can i do this. Credit card debt
« Reply #1 on: Feb 14, 2020, 12:18:07 AM »
Move all the card debts to 0% interest rate cards. If you have a poor credit score or too much debt already you won't be able to though. In that case, write to them (if you are struggling to pay), ask them to accept lower payments, amounts which you can genuinely afford and to freeze the interest if you are in difficulties. Prove to them what you can afford......send them details of your income and outgoings.




PaulFitz

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Re: can i do this. Credit card debt
« Reply #2 on: Jun 03, 2020, 11:53:04 AM »
Hello


I am new to the forum and saw this - how are you getting on with the credit cards now?


Thanks