If you’re struggling with repayments you should contact your lender. They won’t want you to default as they will end up losing money so may find a way to help.
The reputation of payment protection has been severely tainted by the PPI scandal but it can still be a valuable product to help with repayments in emergencies.
You should contact the business with whom you have a continuous payment and keep evidence of this content. Should they refuse or fail to cancel the payment then you’ll be required to contact your credit card provider.
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In the UK, there are no joint credit cards, but you may be able to add additional cardholders on to your account. Bear in mind that the liability to pay debt lies with the original cardholder.
Prepaid cards let you add a particular amount of money onto a card which can be used to make purchases and withdraw cash. Unlike credit cards, there’s no credit arrangement so there will be no interest to pay back.
Business credit cards may suit you if you are a business owner, but you should be wary of annual fees that tend to be a requirement for one of these cards.
