Banking advice wanted
I need some help. We are an elderly couple with no other income except the Aged Pension. We dont own our own home,we are renters.
Some seven years ago ,after a bad business decision, we were left with a large Bank Card bill.
We have struggled for those years to pay off even the minimum amount,needless to say the balance has hardly gone down.We havent used the card for years.
The time has now come when we cant even pay of the minimum,what with increased rental & cost of living.We know the obvious is to go ask the bank,but before doing that,we thought there may be someone who has had similar dealings who may be able to tell us what the banks reaction may be. We know we could go bankrupt like a lot of others have, but dont want to because of one bill.
We live in Queensland, bank with Wespac, & dont have family who can help us. Any advice would be appreciated, Thank you.
dear tweety go down to Social security they have financial planners and social workers who help pensioners who are in this type of predicament, this will not affect your pensions, otherwise immediately get in touch with your bank they will assist pensioners in troublesome times .
I wish you well.havery.