Increased debt cost with Debt collectors

bisho09 · 11 October 2017 at 12:15PM

Hi guys,
I'm a complete newbie to this so I'm not even sure if this is the correct place to post.
I have had three debts since 2011 which I took out when I was very young. They are split between three different cards. I haven't been in the position to pay them off, however I'm fortunate to be in a much better situation now, and have completely paid one account off.

My query is the two debts left come to a rough total of £8k split between £5k and £3K. It has been a long time since I took these out and being young when I first took this out I was ignorant to not properly file documentation and get my affairs in order etc.

I'm pretty sure my credit file wasnt good enough to rack up debts that much, so I'm wondering if previous debt agencies have hiked huge fees on to these accounts.
What I would like to know is:
1-How can I find out my last balance which was owed to the original credit card company (Would I simply be able to call them up? I have no account numbers etc)
2-If this is the case do I have to pay these fees, can I contest them and am I obliged to pay these extra fees?

Any advise or tips would be appreciated.

Thanks

StopIt · 11 October 2017 at 12:29PM

1: Isn't realistically relevant, will make no odds to what the DCA wants. Their charges are legal, have been challenged and lost at courts repeatedly. However, when sending any statements to you, they should have at least a breakdown of costs.

2: See above, no, but also, no.

Firstly, send CCA requests for all of the cards you still owe to the relevant DCA companies responsible for them. The CCA template is on the National Debtline website.

If they come back and are enforceable, and you have made a payment within the last 6 years, the debts are live and valid and you will need to make an arrangement to pay. You can either offer a monthly payment, or, if you're in a position to do so, offer a part lump sum payment to settle the debts.

If they can't find the right paperwork, they cannot enforce the debts at court. And you can deal with them with a very low F&F to rid the hassle of the DCAs selling the debt on and having to tell someone else that you wont pay, or simply walk away.

EssexHebridean · 11 October 2017 at 12:33PM

Disregarding the question of the fees - when did you last make any payments to these debts? 2011 leaves you very close to a possibility that they may be statute barred. Of course you may still feel that you'd like to "cl;ear your slate" and pay them regardless - some folk do, some don't - it entirely comes down to how you'll feel going forwards if they are Statute barred and you choose to follow that route - but it pays to have all the information at hand to start with!

As for fees, I believe that a DCA is allowed to add on "reasonable" fees to terms contained in the original agreement. Once you have settled the Stature Bar question in your own mind, you might want to think about writing to the companies concerned for copies of the original agreements - take further advice from someone on here who's "area" this is first though.

*edit* StopIt you've done it again! Good work! :rotfl::rotfl::T

StopIt · 11 October 2017 at 12:41PM

Sorry EH, I've cross posted with you twice now!

And of course EH totally correct, if you haven't paid or acknowledged the debt in 6 years, they can no longer enforce the debt either, and you'd send the Statute Barred letter to each DCA accordingly.

Increased debt cost with Debt collectors

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