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Reprocussions of defaulting on credit card?

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  • 26-04-2012 7:47pm
    #1
    skoomi
    Banned (with Prison Access) Posts: 169 ✭✭


    Hi all

    I'm having trouble paying the minimum charges on my credit card. I owe €2000 and can't afford the repayment of around 200 euros. If I pay it, I go hungry for a few weeks and don't pay rent.

    They told me that I can default and just repay in smaller amounts, but that would lead to me being black listed. I'm 26, no kids, no mortgage, unemployed. I don't really think it would be a problem to have my credit rating affected.

    But is defaulting the only thing I can do? I can't get a loan from anyone by the way...

    Any pointers from people who have been in this situation?

    Thanks


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


    Well it will be marked as a default on the ICB which will remain there for 5/6 years after the balance is cleared.

    Continued non payment would result in collections department in the bank contacting you and possible legal action should they deem it necessary.

    You should contact MABS if you are having trouble budgeting or need some advice with budgeting and managing your finances. They are free but long list of people going to see them at moment.

    www.mabs.ie


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