Credit Card Debts

Below are only some tips for you to help you in ” Keeping Credit Card Costs Down”. Get help quickly with credit card debt  or other debts you may have”. 

If you miss payments on your credit card debt you will see from the statement that your outsatnding amount is increasing and can quickly build up into credit card debt.

keeping credit card costs down  

  • Work out what you can afford to pay each month. (if you need help how to budget properly to manage your money then ask your Children’s Centre / School to arrange an appointment for you to see a “Specialist Debt Adviser”.
  • If you can switch to a cheaper Credit Card, before switching you must read their terms and conditionsto avoid long term costs.
  • If you can afford, pay in full before the due date each month to avoid interest charges. Late payment charges can build up quickly, and you’ll have to pay interest on them as well. .
  • Try to pay more than your minimum payment  to prevent your debt escalating
  •  Budget your credit card spending for regular costs such as your weekly shopping. Make sure you plan your spending so that your repayments are affordable.
What happens if you don’t pay a credit card debt

If you  don’t pay or don’t come to an affordable / acceptable arrangements, the credit card company can pass the debt to a debt collection agency or take you to court to recover the money.  This could result in a county court judgement against you.

When the credit card company gets a county court judgement against you, you must try to keep to the terms of the court order. If you don’t keep to this, for example you don’t pay the agreed amount each month, the credit card company can go back to court. It can ask the court to send bailiffs to seize your non-essential goods and sell them to pay the debt, or it can ask to make you bankrupt. If you are a homeowner, this could result in you losing your home.

You may be able to prevent this if you act early, by negotiating with your credit card company and getting help from a debt adviser.

Get help quickly with credit card debt and any other debts you may have.

 

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