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Hi Guys,


I need some advice please.


I have 2 credit cards one with Aqua and the other Cap One. I am encounting financial difficulty and have not met minimum payments on my credit cards for 2 months. I have buried my head in the sand and ignored all contact but want to put things straight.


I can't meet the minimum payments anymore and really want them to close the account and stop all interest and charges. I then want to come to some arrangement to make fixed monthly payments to pay off the debt.


Is this at all possible and how would I approach this.


all advice breatly appreciated

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Hi Iam



Welcome to CAG


The guys will advise as soon as they are available.


Thread moved.


Have you got any penalty charges or have you been mis-sold PPI on these accounts? You can claim these back with Compound Interest.


Have a read of (1) (2) (3) (6) and (7). Best thing to do is not to panic, manage the situation.

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Hi rebel & thanks for your reply


Yes I have a number of late and over your limit (£12 per charge) chrges but to my knowledge no PPI. I am more interested in trying to close the accounts, stopping any more charges and interest and setting up a regular payment scheme of around £10-15 a month.


Does this seem at all feasible.

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Hi and welcome to CAG!


Apologies for not replying sooner, but I've been away all weekend so am just trying to catch up on the forums.


The first thing you need to do is fill in an Income and Expenditure sheet for yourself (found in the library) so that you can see in black and white what disposable income you have left each month.


The next thing then is to write to the companies (I'm assuming these are your only debts - if you've any others, make sure you tell us!) with the template letter, again from the library on here, explaining that are in financial difficulties and asking them to freeze all charges and interest on the accounts. You can then offer your payment, and if I were you (though not everyone on this site would agree with me on this bit) I'd include a copy of your IE sheet so they can see how you've arrived at your offer. This way I believe you're much more likely to receive a positive response from them.

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