www.iva.co.uk

Egg are one of my creditors, I'm not in arrears with them just yet but will be soon but have received mail that they are upping their interest rates by 2%. It looks like this is across the board as my hubby has received the same mail and he has no credit with them.

How can the credit card companies continue to increase their interest rates in these times of low base rate interest? It seems wrong to me.....have they ever lowered their rates....I doubt it!

Never have I noticed any of them lower rates. I got an annual statement from egg regarding my 13k loan thats part of the trust deed and its great,no interest added and they only send the statment as they have to.
Straight into the bin!!!
Egg hassled me big time prior to my trust deed,lots of phone calls and e mails and letters.

Paul

paul i had a egg loan and had no problems with them at all while setting up my iva.so strange how people have some or no hassle from different creditors. ronald.

They hounded us right up until the trust deed was set up,in fact they treid to get a payment from us 2 days after our trust deed had become protected(meaning all creditors are tied into it).

is a trust dead the scottish version of a iva paul.

There are similarities Ronald, but in reality they are quite different.

Creditcard companies raise interest rate to make more money on you.That's how insolvency happens, the debt is harder to service and debt grows....

Banks are supported by the government[like it all not, that speech tonite by Darling], they need each other....and no one will tell Egg to stop raising interest rates.You need to go to America for curb on that. Its unfair but the Banks have the government in its hands.