I have a credit card with egg. The have terminated the card and I am repaying the card until the balance clears. Should they have freezed the interest its at a whopping 21% so out of the £200 per month im paying, only 75 pounds actually gets taken off the debt, any advise would be welcome. Thank you
Are you in a debt management plan or is this your only debt? If it is the only one it would be worth speaking to Egg to ask them to freeze the interest. They don't have to, but it's worth a try.
If you have more debts it would be worth taking advice from an insolvency practitioner about your circumstances. The advice should be free and with no obligation. Have a look on www.iva.com for reviews of many IPs.
If it is your only debt and you don't own any property, and it is less than £15,000, then a Debt Relief Order could be an option for you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Kazzer it all depends.....have you/are you applying for an IVA or sought any type of arrangement with Egg for eg a DMP?
If this is one of many credit cards are you seeking the same arrangement with each and every creditor?
In any event Kazzer, you seem to be in a degree of financial difficulty therefore I would speak to an IVA Company, give them a full run down and see if they can offer any advice, which I have no doubt will be the case.
I left my debts to the stage that they got out of control and would suggest that if you have any doubts then the free advice of an IVA Company or 3 at this stage could save a lot of hassle in the long run.
Good Luck.
I came into this world with nothing and still have most of it left!
