Credit Card Debt Advice

Credit cards are a secure and convenient way of shopping and will provide protection for the purchase of items of over £100 under Section 75 of the Consumer Credit act, as well as provide perks such as cashback deals. However, what may begin as a small personal loan could spiral into huge arrears due to late payment charges, borrowing fees and bank administrative costs.

It is easy to ignore credit card statements with the promise to clear the balance or budget a later date. But all the time, the bank is adding more to the loan. Radical steps must be taken to stop the credit from growing out of control. In some cases, it may be possible to have the debts written off.

Steps to Wipe Credit Card Debt

Establishing the size of the debt is an uncomfortable task, but is an essential first step to the possibility of having credit card debts written off legally. This means adding all credit card statements calculating overdrafts, hire purchases and personal loans.