Having a catalogue is one of the easiest ways to gain credit but it can soon mount up if you have a few. Getting into catalogue debt is made even worse with the interest rates that are charged and when only making minimum payments you are being charged the full interest rate on the debt that you owe.
Catalogue debt is a large part of the UK’s overall debt and is something that many people have experienced.
There are a number of things that you can do to help you clear your catalogue debt a lot quicker than what you may be at the moment.
- Try to make more of a payment than the minimum as it will clear the debt faster and result in less interest being accrued. This will mean that you will clear the debt a lot quicker and will mean that you will pay less than the full interest.
- Contact the catalogue companies and explain your situation as they may be able to reduce your credit amount and will prevent you from further ordering.
- Ask the catalogue company to put your account on hold whilst you look to reduce the balance to X amount so that you can get back to keeping up with the monthly minimum amounts.
Catalogue debt is experienced by people worldwide everyday and it is easy to watch the amount you owe increase. Most catalogue companies will accommodate you if you communicate your issues with them.
You may already have tried the above and feel that you are now in a position that is starting to spiral out of your control. If this is the case now is the time to seek professional help from a company that has dealt with these issues many times. Try our Free Debt Test it will only take you 30 seconds and it will get you on track to solving your problem.
Call us FREE Today 0800 092 0455 to get professional and confidential debt advice. Let us offer you the best debt solutions available for your personal situation.