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Credit Card Dilemma

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  • 23-04-2012 9:43am
    #1
    JB81
    Registered Users Posts: 587 ✭✭✭


    Hi All

    Looking for some advice / information.

    I have had a UK BOI credit card for about 8 years. There is a balance on it, not a major amount, but a balance none the less. I no longer live in the UK, I live in Ireland. I am having extreme difficulty meeting the minimum payments ( again they are not much, but unfortunately they come behind the mortgage, food, diesel etc.. you all know the story ). I have been paying it for 2 years now, even though i have live in Ireland for that time. And have tried my best to keep up, as I am not one to not pay my way as such. I haven't used the credit card in about 4 months. But the balance is not going down as I am only meeting the minimum payments. My question is ( as I feel I am going to end up missing a few payments between now an Christmas due to our circumstances ) if i stop paying it what happens, given I no longer live in the country. What are the consequences if any? Would love some advice.

    Thanks
    JB


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    #2
    Dr. Dodger
    Registered Users Posts: 381 ✭✭Dr. Dodger


    I had a couple of big credit card balances a few years ago so what I tried to do was consolidate them into a loan in order to clear them quicker.

    Banks are not fans of taking on other banks debts mind you but if you can find a credit card with 0% interest on balance transfers, that's a good way to get a break from paying interest and get your balance down. It's what I did with Halifax who of course are no more. Maybe this was a factor, I don't know.

    Anyone know if these are still available?


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    #3
    Dr. Dodger
    Registered Users Posts: 381 ✭✭Dr. Dodger


    http://creditcard.ie/find_card/card_type.html?id=16

    EDIT: THEN CUT UP ALL YOUR CREDIT CARDS IF YOU HAVEN'T ALREADY.


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