My mother and father took out a credit card some 20years ago for around £150 and have been paying it off ever since, as far as i know they have never missed a payment allbeit possibly making a lot of minimum payments (hence why the debt has never been paid off). My question is, is there a limit to how many times over the finance companies can claim interest? as my parents have probably paid the original amount 10 times over in interest alone!

My question is, is there a limit to how many times over the finance companies can claim interest? as my parents have probably paid the original amount 10 times over in interest alone!

No there isn't, tell them to clear the balance in full and end the agreement......did you mean £150 or is that a typo?

Otherwise if they take a further 20 years to clear it...they could end up paying the original amount 20 times over in interest alone.!.

yes the original amount taken on credit was about 150 and now stands somewhere around 400 i really dont know why they are still paying it, i'll try knocking their heads together AGAIN! crazy, thanks for the reply