Reclaiming Credit Charges - Need Advice

steve0793

Hi - I am a newbie to this site. I am looking at reclaiming credit charges on 5 accounts. I started to use a company to do this on my behalf, but intend to pursue this myself now as the service from the company is poor !!
What I want to know is, I have 2 cards (CitiFinancial & Halifax) that have been referred to collection agency and I am now making regular payments to these companies (I understand they purchased my debt ???) Can I still pursue these even though the Companies (Halifax and Citi) have sold my debt ?? Also will any charges that are potentially refunded paid to the 3rd party company who now have the debt and reduce the debt, or will payment be made to me direct ??

Ex-Spendaholic

Hi Steve

I'm in the process of claiming charges. My Halifax Visa was passed to a DCA - Blair, Oliver Scott (although my suspicions tell me this is an inhouse thing). Anyway I successfully claimed back my full £650 in charges which is being credited to the debt.

I have today just received notification from Barclaycard that they are paying me back £151. That account is currently with Mercers and again the money is going towards the debt.

So to answer your question I think any money reclaimed will almost certainly go towards outstanding debts. Although it is not cash in your hand it is at least reducing your debt which can only be a good thing.

BTW, you don't need a company. Just use Martin's template letters.

Good luck.

catinthehat1

I have just reclaimed two lots of money:
Owed Lloyds TSB £2047 given to DCA who wrote a letter saying they would cancel debt if I paid £800 - paid the £800 (borrowed from friend) Then Lloyds said they would refund charges £354 , they are sending us a cheque as account cleared :j
Barclaycard with Mercers - owed them £600 - claim for charges £800 - they have paid off debt and are crediting my bank account with what is left £200 ish:j

Claiming other charges on own or via FOS - I did send the DCA's letters stating that I am chasing the original card holder for bank charges, just so that they don't take any further action

Ex-Spendaholic

Way to go Catinthehat. :beer:

catinthehat1

Thanks - I've got shed loads of paperwork!!!!!

Ex-Spendaholic

I find it quite enjoyable in a sick, sad sort of way. I get great satisfaction at sending those letters off then waiting on the postman to bring responses.