Morning all,
My wife has just got of the phone to out Credit Card company as we have a 15K debt with them, and like most due to our current economic times, our cash flow has dried up due to cut backs in work, etc etc. She asked them if they would be able to reduce the interest for a while so that we can catch up with ourselves. There was a flay NO from the kind person on the other end. They then said we could request for it to be sent to the debt collectors section where interest will be stopped and my credit rating will be affected.
I wanted to ask if Credit Rating will be affected, as I thought the only way it was effected was if a debt went through courts? We are Southern Ireland BTW.
We have also tried moving the balance over to other cards, and so far only one has said yes, and they would only take 2500 of the debt.
Look forward to your replies,
Flip