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What is the lowest credit card companies accept on payment plans?

i was on a reduced payment plan with my credit card companies and they all accepted 1% of the balance per month.
Now, as I have been off work sick for over 6 months my pay has been cut. do you think they would accept 0.5% per month or less?

in the UK they have already stopped all intrest and charges

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3 Responses to “What is the lowest credit card companies accept on payment plans?”

  1. Robert W said:

    in america usually $10 dollars over the monthly interest charges= interest 20 dollars, payment 30 dollars a month?? you have to pay at least the interest or more or your bill will get higher every month!!

  2. Steve B said:

    No, I don’t think so .. 1% will take 100 months = over 8 years to pay it back .. if they agreed to 0.5% that would mean over 16 years …

    Say they sell your debt to a ‘Recovery Agent’ for 50p in the £ .. that means they get 4 (or 8) years worth of your payments ‘up front’ and save themselves a load of wasted time trying to squeeze money out of you that you don’t have ..

    The ‘Recovery Agents’, of course, will immediately start charging interest and penalties again, not to mention their Court costs and the Bailiffs charges .. they are experts at getting blood out of a stone (or blood out of you, at any rate) …

  3. ACA2506 said:

    If you contact the CCCS then they will tell you how to get your creditors to accept the amount you can afford from a little as £1 a month but it depends on your circumstances i.e rent, loans, food and etc


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