Fredrickson International - ??

Lodge

Just had my Capital One credit card debt (£3000) passed onto them.

They sent a fairly standard letter saying they needed full payment immediately - I phoned them and explained if I could afford to settle the account in full I would have paid in full to Capital One!

They then said they could offer me the option to settle over a year at around £300 a month! I said the most I could afford each month was around 40 quid - the guy said we could accept £60!!

So, I've agreed to make monthly payments of £60 per month, to be reviewed in six months.

Anyone here know much about Fredrickson International?

What are they like to deal with?

Thanks guys.

OberonSH

I've not heard of these guys, but one thing I will say is can you actually afford £60 a month? I know most DCAs will usually ask for a bit more than you first offer, but make sure you didn;t just agree to get them off the line, as it'll bite you on the bum if you can't.

Lodge

At the moment I can budget for 60 quid per month - even better now that no interest is being added to my debt.

Will they try to add charges etc to the balance of my debt?

Can I trust them to reduce my balance by 60 quid each month?

OberonSH

Have they explicitly said that they've frozen the interest? You need it it writing that the interest is frozen, and that they accept £60 per month. Then make sure if it's cash you get a recipt, or by standing order etc to ensure the payments show on your statement, just in case there's a problem in the future.

Lodge

I've only spoken with them on the telephone today, but they did say they were going to put it in writing that interest was frozen and and that they would accept sixty quid a month. I will wait a week or so for a letter to arrive then I will be on the phone again.

Would be interested to know any more info on Fredrickson International though, can they be trusted? Are they really a DCA or part of Capital One's collection team?

If anyone has ANY info on them I would love to hear it!

Ex-Spendaholic

Do you know you can deal with these people online? The information is on the letter you received from them. So rather than deal with them by phone you can make your payments, send them messages etc. Its: www.fredpay.com. I know that Egg use them.

Lodge

Thanks for that Ex-Spendaholic, do you have any personal experience of dealing with them - Good or Bad!!

Ex-Spendaholic

They are ok. I have an Egg A/C with them. As long as you make the payments when you are meant to then you won't hear from them.

They are like any DCA. They can only take what you have to give and they can only scare you if you let them. You just have to rise above them. Never offer any DCA more than you can afford. No matter what you offer they will ask for more so just stick to your guns and say you can't afford any more.

As I said before you can deal with Fredrickson online which is very handy. The rest I deal with in writing.

Lodge

Thanks again!

Sounds as though Fredrickson International are not TOO bad then!

Lodge

Just wanted to bump this one up really - does anyone else here have any experiences of Fredrickson International?

caz876

Hi Lodge,

I am on a DMP with Payplan and Capital One are one of my creditors, at the end of this month I will have missed 3 monthly payments to them ( not taking into account my contributions through Payplan) I was just wondering how long it took them to pass your details onto the DCA.

I owe them approx £1000 so I guess I will be having to deal with this company before long..

Thanks

Caz