Hi
I have been given 3 options to clear my credit card bill (it's a UK card). I am unsure which option to choose. I am in receipt in SWA at the moment and have some occasional part-time work, but no other form of income.
As I am unsure which is the best option to take, I have copied them below and would appreciate any advice.
Many thanks
rois
Quote:
"Your account currently has an outstanding balance of £9246.55 and we have not received a payment since the 1st September 2009. Your account is due to default at the end of April unless we can get your account set up on one of the below payment plans:
Option 1 - £155 Per Month Repayment Plan
I may be able to stop all interest and fees, on the understanding that payments made will clear the outstanding balance within a 60 month period. I am more than willing to review the fees and charges that have already been applied to the account for February. However we only have till Wednesday 18th to implement this plan on receipt of your income and expenditure details.
Option 2 - £167 to clear the oldest arrear
If you can pay £194 to clear the oldest arrear we will also credit your account with a further £194 as a good will gesture for February only.
Option 3 - £175 Restructure
If you can pay £175 in February, March and April we will report your account up to date with us and the credit reference agency, the total arrears will be £0.00 and you will revert back to paying your normal min payment shown on your statement."
I have been given 3 options to clear my credit card bill (it's a UK card). I am unsure which option to choose. I am in receipt in SWA at the moment and have some occasional part-time work, but no other form of income.
As I am unsure which is the best option to take, I have copied them below and would appreciate any advice.
Many thanks
rois
Quote:
"Your account currently has an outstanding balance of £9246.55 and we have not received a payment since the 1st September 2009. Your account is due to default at the end of April unless we can get your account set up on one of the below payment plans:
Option 1 - £155 Per Month Repayment Plan
I may be able to stop all interest and fees, on the understanding that payments made will clear the outstanding balance within a 60 month period. I am more than willing to review the fees and charges that have already been applied to the account for February. However we only have till Wednesday 18th to implement this plan on receipt of your income and expenditure details.
Option 2 - £167 to clear the oldest arrear
If you can pay £194 to clear the oldest arrear we will also credit your account with a further £194 as a good will gesture for February only.
Option 3 - £175 Restructure
If you can pay £175 in February, March and April we will report your account up to date with us and the credit reference agency, the total arrears will be £0.00 and you will revert back to paying your normal min payment shown on your statement."