Credit Card Debt!!!

shero30

hi everyone,i'm looking for advice on this tricky subject!my dad can no longer afford to pay the min fee on his credit card.he keeps getting letters and phone calls and was doing his best to pay it.i told him to stop paying, that he's in his 60's and his credit rating is nil anyway.i think the ramifications are a court appearance and an interest free payement but not sure.all comments,good or bad would be appreciated,cheers

mentalhead

Your poor Dad.................he must be awfully worried. I think the citizen's advice give info out about problems with debt and they are on the internet:)

Hope this helps

Joey the lips

You dont just stop paying. You phone them and tell them the situation you are in.

I dont know your dads financial situation but if your dad cannot afford the min payment either the debt is very high or his money is very low.

If the debt is very high he will end up in court and a sherriff may call to the house at a future date to take away property of his to recoup some of the money.

If the debt is low and he is just broke then perhaps they will agree a payment amount to clear it.

If he is lucky enough to have a credit union accont perhaps he can borrow from this and repay the loan

NEVER IGNORE OR REFUSE TO PAY DEBT.

coylemj

+1 Most of the court cases regarding debt/mortgages are in relation to people who refuse to engage with the lender and/or do not reply to letters so going to court is the only option for the bank or CC company. At least talk to them, explain the situation and see what they say, ignoring the issue is not the answer, it won't just go away.

marywary

Go to MABS with your dad, tell him to bring all details of his income\expenditure with him & they'll be able to help him, lots of people in trouble with crdit card debt. They may liase with cr card company & will make sure that all his utilities, rent, mortgage are taken into a/c before any other debts

Rebel1977

Dont just stop paying, contact the credit card company and arrange to pay a set amount each month/week make it as small ac you can, least that way they can see you are making an effort. I read an article on a sunday newspaper few weeks back that people who cant afford to pay their mortgage. should still lodge something small i.e. €100 a month least that way the company can see they are genuine and have made an effort

chris85

Communication is key OP.

You gave your Dad terrible advice by just telling him not to pay as credit rating is fecked anyways as the bank will keep sending letters and call him which is fair enough to be honest if he is not communicating with them.

Credit rating is a small part. if not getting paid the bank will proceed to court. Your dad doesnt want that.

Tell him to talk to the lender. see if they will agree also to hold the interest if he keeps to a mututall benefical agreement with them.