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james bruce
james bruce, Solicitor-Advocate
Category: Law
Satisfied Customers: 4494
Experience:  Owner at James Bruce Solicitors
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Morning, I pay £200 per month on my Barclaycard for a £5000

Customer Question

Morning, I pay £200 per month on my Barclaycard for a £5000 credit use, recently the interest rate has jumped from £74 to £101, seems like I will never pay off the debt?
JA: Where is this? And when did the issue begin?
Customer: Barclaycard, it began last month
JA: What steps have you taken so far?
Customer: None, just kept paying
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: None that I can think of
Submitted: 16 days ago.
Category: Law
Expert:  james bruce replied 16 days ago.

Hello, I hope you are well. My name is***** am a solicitor advocate and I will be assisting you with your question today. I am very sorry to hear of the problem you are experiencing and I will do my best to help you with this matter.

Sorry to hear what has happened. It does at times appear that a credit card will never be paid off, because each move further interest is added.

Unfortunately, the card providers are allowed to increase their % rates.

The only way to rid yourself of the problem is trying to pay the card off. Any extra you can afford each month will help.

Or possibly looking for a new card provider offering a zero rate transfer for 12 months. That would allow you transfer the card amount to the new card continue to make monthly payments but incur no interest for the year.

Another option could be a consolidation loan to pay off the card. This would give you a fixed monthly payment fee and you will know exactly when you will finish paying the loan off.

Customer: replied 16 days ago.
Ok, many thanks for your help
Expert:  james bruce replied 16 days ago.

Thank you for using Just Answer and for allowing me to assist you with your legal enquiry. I am pleased I was able to be of assistance. Please do not hesitate to come back to me for further advice on this or any other legal matter. It will be my pleasure to be able to assist you again.