Here's the story.
My girlfriend is from Asia and had been living in the UK for a number of years. She had a credit card with HSBC that she was paying off, but then left the country under the assumption that the debt was being taken care of by someone else.
She recently came back to discover that the debt had not been paid and now has Wescot Credit Services chasing her for £3700. She called them today and they've said she can either pay the £3000 in full or pay £172 per month over three years.
£172 over three years seems like a massive amount to me and would put her in all sorts of financial trouble.
She also doesn't have anywhere near the £3000 to pay it in full.
I've thought about the possibility of a loan to pay off the £3000 but she says that her new bank (three months new) won't give her one because she only has a temporary contract at work and because she has not been with them very long.
At this point i'm running out of ideas. Would wescott consider negotiating the repayments down and spread out over a longer time period. I'm shocked by their offer as it works out to way more than the debt itself.
Is there any cheaper way to get the £3000. Are there any loan companies with reasonable APRs that will consider lending her the money, given her situation?
ps i know this has probably been answered many times but i don't have time to search. Wescot want an answer by 9pm tonight.