Hi all.
I owe circa 10k to B of I on a credit card. I'm not in a position to make the full monthly repayments and was wondering about offering a lesser monthly amount and asking them to freeze the monthly interest to stop it rolling over and increasing each month.
I saw a reference to this in the financial column of a weekly paper recently but it was just a bare reference to requesting the bank to freeze the interest and didn't go into how one would approach the subject with the bank.
Does anyone know if this is possible and if so how best to go about it.
I owe circa 10k to B of I on a credit card. I'm not in a position to make the full monthly repayments and was wondering about offering a lesser monthly amount and asking them to freeze the monthly interest to stop it rolling over and increasing each month.
I saw a reference to this in the financial column of a weekly paper recently but it was just a bare reference to requesting the bank to freeze the interest and didn't go into how one would approach the subject with the bank.
Does anyone know if this is possible and if so how best to go about it.