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Best way to get BC to stop interest


imrocko
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Hi long time lurker.

 

 

I have got into a situation where I have ran up some quite high debts with Mbna and Barclaycard and these are due to pop the interest rates very soon.

 

I have been reading that sometimes a DMP is not the best way to get interest frozen and maybe to stop paying all together to get the debt moved to a DCA.

 

 

I am a home owner with not much equity and owe roughly 15k to barclays and 10k to mbna all debts are 2 years old and fully paid no missed payments or chaerges on the account .

 

thank you

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Hi Imrocko and welcome to CAG

 

Thread moved into BC forum.

 

BC are not likely to stop adding interest while you manage to maintain minimum required monthly payments.

 

It's important that you take the right steps, particularly because you're a home owner.

 

You can get free advice from National Debtline or other free services. Just make sure you don't use a fee-charging service if you go for a plan. You can ensure that 100% of all that you pay goes to reduce the debts.

 

........ quite high debts with MBNA and Barclaycard and these are due to pop the interest rates very soon.

 

Do mean you're on lower rates that are due to rise to normal rates soon ?

 

:-)

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Hi Imrocko and welcome to CAG

 

Thread moved into BC forum.

 

BC are not likely to stop adding interest while you manage to maintain minimum required monthly payments.

 

It's important that you take the right steps, particularly because you're a home owner.

 

You can get free advice from National Debtline or other free services. Just make sure you don't use a fee-charging service if you go for a plan. You can ensure that 100% of all that you pay goes to reduce the debts.

 

 

 

Do mean you're on lower rates that are due to rise to normal rates soon ?

 

:-)

 

 

Yes Im pretty much maxed out and interst free coming to an end soon got a balance xfer card yesterday for 33 months but with a limit of 5k only so im thiking a DMP is the right thing to do

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Hi Imrocko,

 

You'll perhaps get more input in the debt forum so I'm moving the thread there ...........

 

:-)

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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