Hello,

Just to give a quick picture of my debt problem, im 24 years old and i have a MINT credit card which is maxed to the tune of 3k/ish pounds, I have always paid over and above the minimum on his card for over 1 year. recently i moved to Egypt to be with my girlfriend and have been living off my savings for 3 and a half months, I have been sending money each month to this debt via online payment.

In the next couple of days i have to pay 50 odd quid which is interest alone and will take my card over limit.

So January bill will be even higher . I simply don't have the money to pay this month or next month too till i get on my feet here. I will be living here hopefully forever i have permit to live and work till nov 2009, and will try and extend this.

I hopefully will find a job here in Sharm el sheikh or Cairo very soon and continue to honour my debts , i'm very worried the interest and charges will transform my 3k debt to higher amounts in short time period.

Can someone advise me my best options? is it possible to freeze or stop interest as my debt isnt reducing and i simply can't pay.

Im not sleeping good even though this debt will be viewed as 'small' by most people.

Thank you!

bumping for help

p.s im originally scottish so maybe this is better in scotland debt section?

Hi, michael83.

I'll move this thread to the RBS Forum, you should get help in there.

Regards.

Scott.

no one can offer any advice? please

i have no idea what to do, tomorrow sunday 7th 2008 i need to pay and simply cannot, first time i've ever missed any bill. Im abroad so cant post any correspondance to them. I don't know how to start what should i do?

When did you open the account?

They are not going to pursue you in Egypt for the amount involved as it would be far too expensive so don't worry about that.

There are basically two ways to go on the account. The first is to question the enforceablilty of the account the second is to ask them to freeze interest and agree an affordable repayment program based on your ability to pay. If you are to make an offer of repayment then always bear in mind that this is a non priority debt and will not effect your credit rating in Egypt. It will only effect your credit rating in the UK.

Hi rory i opened this account in November 2007,

There are basically two ways to go on the account. The first is to question the enforceablilty of the account the second is to ask them to freeze interest and agree an affordable repayment program based on your ability to pay. If you are to make an offer of repayment then always bear in mind that this is a non priority debt and will not effect your credit rating in Egypt. It will only effect your credit rating in the UK.

How do you go about finding out the enforceability of this account? and option 2 i was supposed to pay them today, gulp and i can't. i will phone via skype and beg them to freeze interest but im afraid my offer will be unacceptable to them,

Thank you sir!

The only advice I can give is don't leave correspondence until the last day when you're supposed to be making the payment.

Most financial institutions state in their T&Cs that if you're unable to make a payment or falling into financial difficulty the sooner you contact them the sooner they'll be able to sort something out - By leaving it til the date of the payment they'll probably just take the payment, begin charging interest and making their additional profit and then they'll take their time to consider the repayment plan.

Another option is to look at refinancing it with another institution possibly?