The Debt Panel: ‘I’ve been paying off my credit cards for 11 years’ – The National

The Debt Panel: ‘I’ve been paying off my credit cards for 11 years’ – The National

The Debt Panel: 'I've been paying off my credit cards for 11 years'. I have been struggling with credit cards since moving from Sri Lanka to Dubai 11 years ago.. Now I have two cards left as well as a personal loan, which I have topped up four times.. I tried to restructure the loan again, but the bank refused saying I have already had four top ups.. My debts are: outstanding balance / monthly payment. I have tried securing a consolidation loan from the bank my salary is credited to, which is also the lender for the personal loan, but they refuse to negotiate because of all the top-ups in the past.. It is in the bank's interest to enable you to pay off your debts.. No matter what route you choose, take action while you're still managing to pay your loan instalments and minimum credit card payments.. Express your intention to pay off your debts and seek a restructured repayment plan that you can keep up with, given your current financial circumstances.. Even if the primary lender agrees to only consolidate the loan and credit card you hold with them, it would still help plug hefty interest payments