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ABC Accounting Group
ABC Accounting Group, Financial Advisor
Category: Finance
Satisfied Customers: 252
Experience:  Accounting Manager
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I have two credit cards totalling 13 k, which are cancelled.

Customer Question

I have two credit cards totalling 13 k, which are cancelled. My credit is bad and my business just went broke. Should I continue to pay these cards off?
Submitted: 6 months ago.
Category: Finance
Expert:  Mark Taylor replied 6 months ago.

Hi, my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 6 months ago.

I just saw that you are located in Australia. I am going to opt out so someone more familiar with Australian regulations can help you. I apologize for the error.

Expert:  ABC Accounting Group replied 6 months ago.
I don't think you will get the card back by paying on it. However, you can call them and try to get the card reinstated. Not paying on a card could make your credit rating worse c
Customer: replied 6 months ago.
Even if I pay my rating is poor. Can deals be made with them, otherwise it's not worth paying??
Expert:  ABC Accounting Group replied 6 months ago.
I would call them. Were they closed because of credit or non-payment?
Expert:  ABC Accounting Group replied 6 months ago.
I would try to work a way with them (i.e. call them) to pay them.
Customer: replied 6 months ago.
Non payment
Expert:  ABC Accounting Group replied 6 months ago.
I would give them a call and negotiate payment. It is much worse that they cancelled due to non payment and not pay at all in the future. You could also try one of those debt consolidation companies, however they will require a fee - they usually can call all your creditors and work up a deal.