Credit Card Debt

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hayley285

Registered User
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Looking for advice on credit card debt. I have a credit card debt of €24,000. I had a shortfall of a payment of 9c, the credit card company phoned to see if we were in difficulty making payments. They suggested filling out an income statement to see if we were eligible for payment plan. Our concern is will this effect our overdraft facility with another lender and credit rating if we accept payment plan. My husband is on invalidity pension, I am his main career I can only work 15 hours a week. I am laid off work for July and August and can not sign on, our main income is invalidity pension and carers allowance.
Thank You
 
If you're debt is unsustainable then you really need to engage with them. So you owe 24k on card and you have a set payment you give them each month ? Do you require the overdraft ? I would firstly ring the CC company and tell them you cannot pay and fill out the form. Unless the IP and your income is very high I think you need to really stop paying. Do you have assets like a house ? Main thing to do here is to remember that they can huff and puff but if you cannot pay they really aren't going to lock you up or anything.
 
Thank you elcato for replying, when the cc bill is due I divide the amount up over three weeks instead of paying the amount in full, yes we need the overdraft to survive,I only work part time I can only work 15 hours a week as I am my husbands carer as he needs help in getting dressed and also falls alot, so far we haven't missed any payments with mortgage, we have a car which my husband got under the disabled drivers grant, would they come after us for the car? so worried at the moment.
 
Hi hayley285, I doubt they will come after you for the car. However, it sounds like you are struggling to get by and your credit card debt is weighing you down. The interest on €24,000 must be crippling. I think you need to start tackling the debt instead of worrying about your credit rating. It would be wiser to engage and set up a payment plan, stop using the credit card and see if you can convince the CC company to freeze the interest on it.
 
I think you should go to Mabs for advice, they are free and sound ideal for the situation you find yourself in.
 
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