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any advice on credit card debts?

  • 27-06-2012 12:12PM
    #1
    pada1981
    Registered Users, Registered Users 2 Posts: 60 ✭✭


    hi just looking for some advice, my girlfriend has been let go from her job and has 3 cards and is unable to pay the monthly repayments. shoulkd she contact mabs? or deal with the companies herself?


Comments

  • #2
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    pada1981 wrote: »
    hi just looking for some advice, my girlfriend has been let go from her job and has 3 cards and is unable to pay the monthly repayments. shoulkd she contact mabs? or deal with the companies herself?

    how much debt is it. I would advise here to contact the banks directly and immediately to advise of her situation and try get a realistic payment plan sorted and get the interest frozen on them.

    MABS are good also but could be a long wait getting an appointment with them.


  • #3
    wonski
    Registered Users, Registered Users 2 Posts: 13,685 ✭✭✭✭wonski


    +1 to that. The worst option is paying minimum every month. Instead of paying off debt, you pay off interest and charges, and the debt stays with you for ages. Ask them to transfer it into loan with fixed payment each month, this way you pay it off much quicker. You have to be realistic tough regarding repayment plan to make sure it is affordable.


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