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Have you received a 'persistent debt' letter?

If you're making minimum payments to your credit card, store card or catalogue account, we can help.

How do I repay more of my balance?

You can get your account out of persistent debt by:

Make sure that your repayments are high enough to bring your account out of persistent debt. You can use our repayment calculator to find out how quickly you could pay off your balance if you increase how much you pay each month.

You could consider transferring the balance to a credit card which has a lower, more affordable interest rate. Or, you could use an affordable loan with a lower interest rate to pay off some, or all of your balance, and then pay your loan off with a set monthly repayment.

  1. If you transfer the balance to a new credit card it’s a good idea to cancel your old card or account, and not spend anything on the new card
  2. Shop around to get the best deal - use a price comparison site to help you
  3. Check you’re eligible before applying. Use a provider that offers a ‘soft search’ before applying for a new product. This type of check won’t leave a record on your credit file.
  4. If you choose to repay your balance with other credit, keep up with your repayments to avoid extra charges and interest

You can take immediate action by doing at least one of the following things:

They may be willing to freeze interest and charges on your account for a while.

Or, if you’ve looked at moving your balance to a loan or card at another bank, let your current provider know as they may be able to offer you a better deal.

Speak with your creditor to make sure the amount you decide to pay is enough to get your account out of persistent debt.

  1. You could make your minimum payment plus a fixed amount each month. For example, by adding £10 to your minimum payment
  2. You could repay the same amount each month. For example, you could repay £75 each month, as long as your minimum payment is below this amount
  3. Put together a budget of what your income and outgoings are each month. You can use this to see how much more you can afford to repay

If you no longer use the account but increase your monthly repayments, your balance will reduce quicker.

Is there anything else I should do to help my finances?

The information we've provided around paying off your credit card, store card or catalogue should be used as a guide. You’ll need to think about your own situation to make sure the action you take is suitable for you.

  1. Think about all your account balances and consider what's being proposed by all of your creditors
  2. Think about how long it’ll take to pay them off
  3. Consider any effect this could have on your credit file
  4. Make sure it's affordable

If you’re not sure how much to increase your monthly payments to help you get your account out of persistent debt, use our repayment calculator.

What happens if I pay more?

Are you worried about money?

If you're worried about your finances, use our free online debt advice tool today.

You'll get personalised advice, and we'll find the right solution.

Get debt help