I'm in deep shit with my credit card company

[¤DãŃn¥ §êãGüLL¤]

Capital One are sending me scary letters saying they're gonna send the boys round if I don't pay off the £400 odd I owe them (on a £200 limit card ). I've been making small regular payments of £5/10 here and there but they're adding on more and more charges for breathing and stuff and despite me saying to them I'm unemployed and can't claim jobseekers allowance (a lie) they still keep hassling me. Does anyone know how I can solve this, without parting with vast sums of money or having to fake my own death?

 

[US Seagull]

Get another card to pay off that one, then when they complain get another card to pay off that one too. I pretty sure you could keep the credit merry-go-round going until you eventually die of natural causes.

 

[¤DãŃn¥ §êãGüLL¤]

Nah sounds too complicated. I just need a stress-free quick fix solution. I'd never get another card with my credit rating anyway. Someone told me you can get the balance transferred elsewhere - how?

 

[brighton rock]

danny try getting a small overdraft from your bank,you dont want a blacklisting for the small sum of £400 and capital one will nail you they are very strict.then you must pay your mimimal payment which on £300 would be £5 a month

 

[Uncle Spielberg]

Go to Citizens Advice Bureau they will help. You won't get another credit card as your credit searches will show missed payments and as such you are unlikely to get another company to take the debt on. If you can prove you have no means of paying the cc company will have to accept a token amount of say £ 10 per month until you are able to pay more.

 

[¤DãŃn¥ §êãGüLL¤]

Sounds a good suggestion BR but my bank won't allow me an OD until I stop going overdrawn (which I do pretty much every week until payday) and have had monthly payments going in there for more then 6 months. I've only been in my current job for 2.
I'm up shit creek without a paddle. They're threatening to seize my assets and everything. Not my assets, you can't take my assets

 

[Beach Hut]

Sounds a good suggestion BR but my bank won't allow me an OD until I stop going overdrawn (which I do pretty much every week until payday) and have had monthly payments going in there for more then 6 months. I've only been in my current job for 2.
I'm up shit creek without a paddle. They're threatening to seize my assets and everything. Not my assets, you can't take my assets

Just get another interest free card and transfer the balance and pay off in installments.

Easy

 

[Uncle Spielberg]

You won't get another cc company to take on the debt as your credit references will show missed payments go to CAB.

 

[US Seagull]

Just get another interest free card and transfer the balance and pay off in installments.

Easy

Until the interest stops being free

 

[Theatre of Trees]

You'll need to speak to Capital One and bash out a scheme whereby you pay them a fixed sum at a fixed time every month. With most credit agencies if you heavily in debt with them then the best thing to do is stay in touch with them. The more contact you have the less likely they think you are going to do a runner.

Is there any way of getting a small lump sum to fob them off with e.g £100 before you start paying a minimum amount a month?

The real problem though is that whatever small sum you pay will get wiped out by the interest they charge. Consequently, there is no stress- free way around this. You have to find a way to pay them.

 

[marvin]

You'll need to speak to Capital One and bash out a scheme whereby you pay them a fixed sum at a fixed time every month. With most credit agencies if you heavily in debt with them then the best thing to do is stay in touch with them. The more contact you have the less likely they think you are going to do a runner.

Is there any way of getting a small lump sum to fob them off with e.g £100 before you start paying a minimum amount a month?

The real problem though is that whatever small sum you pay will get wiped out by the interest they charge. Consequently, there is no stress- free way around this. You have to find a way to pay them.

But this is capital one, I am discovering they are not normal (my son's account not mine) and they don't follow their own rules.

But then I am discovering that Lloyds make the rules up as they go.

 

[brighton rock]

Sounds a good suggestion BR but my bank won't allow me an OD until I stop going overdrawn (which I do pretty much every week until payday) and have had monthly payments going in there for more then 6 months. I've only been in my current job for 2.
I'm up shit creek without a paddle. They're threatening to seize my assets and everything. Not my assets, you can't take my assets

sounds like you have let things go too a little too far you know your in trouble once they ask for their card back seek help at the Citizens Advice Bureau they are helpfull and should be able to slow things down giving time for cash to come through from your new job.dont sit on it you must act monday £400 may seem alot of money at the moment but it far toosmall an amount to cock your credit ratting up with.

 

[Theatre of Trees]

Nearest I've been to dealing with Capital One is throwing their junkmail in my bin. I'd follow Brighton Rock's advice, you need to get it sorted quickly. Can't you go cap in hand to your parents? At least they won't charge interest. Whatever you do you cannot leave it and hope it goes away as it won't.

 

[marvin]

Capital One are sending me scary letters saying they're gonna send the boys round if I don't pay off the £400 odd I owe them (on a £200 limit card ). I've been making small regular payments of £5/10 here and there but they're adding on more and more charges for breathing and stuff and despite me saying to them I'm unemployed and can't claim jobseekers allowance (a lie) they still keep hassling me. Does anyone know how I can solve this, without parting with vast sums of money or having to fake my own death?

£20 a month for being over your limit (My son got charged £20 for being over his limit by £1.50 or something, what annoys me most is I loaned him £2000, to clear off his cards and the sod went on holiday with it!)

How can a regular payment be hear and there, its regular or its not. Make the minimum each month they ask for £8 if its 2% 10 if its 3% etc.

Whatever you pay off will be outstripped by the interest (if its anything like my son's account and is near 26% a year 2.07% per month).

3 Options
1 If you can, go to parents and beg.
2.Go to CAB
3. go bust (not recommended that one)

 

[Tazman]

Must act monday like BR says, speak to Capital one and get the card and interest frozen and set up a monthly/weekly repayment scheme. Don't bury your head in the sand....i did quite a few years ago and i'm still suffering the backlash.

 

[CAFC Matt]

Danny you fool

 

[brighton rock]

Danny you fool

dont think he's a fool at least he up front enought to post on here he's in trouble,yes he's over spent a little (like most of us do)but he's going to sort it out monday,good luck to him!

 

[Theatre of Trees]

dont think he's a fool at least he up front enought to post on here he's in trouble,yes he's over spent a little (like most of us do)but he's going to sort it out monday,good luck to him!

Very true. And better to learn about the harsh world of credit with £400 rather than £4000.

 

[brighton rock]

my brother went tits up on credit cards for £48,000 without any asset to show for it,so i think dan will be ok!

 

[¤DãŃn¥ §êãGüLL¤]

Thanks dudes.

But so far, the best suggestion would seem to be faking my death. Any ideas on how to go about that, folks?