Thankfully, there are many options when it comes to paying back credit card fees and catalogue debts. If, like many people across the globe (especially in current climes) you are finding it extremely difficult to repay your standard credit card balance, there are several options available, including investing in the help of a creditor.
To assist debtors finding it difficult to pay credit card bills and to avoid court action, certain creditors may be willing to offer the following:
Payment holidays for credit cardholders. These can be actioned for various periods, often a maximum of three months. Many are worried their credit score will be tarnished if they opt for payments holidays. This is not the case.
Upping your credit card limit is another way to ensure you pay back less, although this could have a longer-term effect. Only opt for this solution if you know you have money coming in very soon
Before agreeing to any of the above credit card solutions, it’s a good idea to consult in the expertise of your adviser. As their name suggests, they will be able to advise you on the best route, based on your situation. This is when the debt calculator comes in handy!