Help! just had a call from captial one

joecov

hi guys,

I have just had a call from the payment assistance department at capital one to tell me that my credit card is over its limit again (I pay a direct debit every month so a payment is always made), and telling me I need to pay the full balance of £11000 immediately otherwise I will be given a bad credit rating and whole other list of things which she said could happen to me.

My question can they do this? I have only just recieved a letter today saying that it was over and I had to make a payment. What rights do I have now as a payment has been put in a couple of days ago which will take it below the limit. Obviously I cant afford to pay 11k just like that.

any help would be appreciated thanks.

GIRLPOWER_2

They normally love you going over your limit so they can charge you mega bucks... you think they would be happy just getting you back within your credit limit and getting the charges off you... Think a letter to them would be in order for a start.

good luck. x

postingalwaysposting

dont worry lol, my mum has a capital one card and is over her limit. She get daily calls and its got to the stage now that i am paying most of her payments se is still over the limit and i can just see balifs knocking, now why is she not very good with money - i am

joecov

thanks but this seems pretty serious, can they just demand me to pay the balance in full like that?

YorkshireBoy

joecov wrote:

thanks but this seems pretty serious, can they just demand me to pay the balance in full like that?

From the Capital One T&C's...

15. Default.
If: (i) you do not pay at least the monthly payment on time, or (ii) you go over the credit limit on your account, or (iii) you break any of the other conditions of this agreement, or (iv) you made any statement when applying for this agreement which is false or misleading in a material respect, or (v) you die, or (vi) a bankruptcy petition is presented against you, or (vii) you make arrangements with your creditors for a compromise about how much you will pay them (sometimes known as a ‘voluntary arrangement’ or a ‘compromise with creditors’), then if any such breach is irremediable or material or has been persistently committed by you, subject to sending you a default notice, we may close your account and demand immediate payment of the outstanding balance. We will give you at least one month’s notice to put right any remediable breach. Where this agreement incorporates an introductory interest rate, such rate may cease if you commit any breach referred to above or on expiry of the period for its remedy, if later.

joecov

ok so i guess they can, they havent given any kind of notice on this I will need to speak to them tommorow morning

Russe11

they have been calling me daily, usually not in to answer

i was yesterday though, they gave me all the oh if you don't pay its getting serious etc....... i gave all the one word answers

last question was, " do you care where this goes" NO "I can't do any thing then sir " and hung up.


They said they was going to pass it on to debt collection agency, but what will they do ? I own nothing apart from cloths and junk(stuff you would have to pay people to take it away)

so they are not getting anything..... i don't want the account.

what will they do ? shall i phone them up and say thins and let them put it down to bad credit and write it off ?

KTF

Can you balance transfer the debt to another card? That will at least get Capital One off your back.

daveboy

Have to say that some people really do have no clue at all.

You borrow money, you pay it back, or the companies take action against you.

They certainly won't right it off. :rolleyes:

skanger

As the T&C extract above states, they will default the account and then demand full repayment.

They can demand what ever they like, without a court order it isn't enforceable.

If ..no when they take you to court to get an order you will be sent a form upon which you detail your income / expenses etc. and the likley outcome is that you will have to repay it at x amount per month.

This will mean you get a CCJ on file.

Your best bet is to write to them, enclosing a statement of your affairs and offering to repay the debt at a rate you can afford, even if they say no and still take you to court this will look better to the judge as you will have already attempted to resolve it.

Skanger

joecov

spoke to capital one this morning and I am still a little confused. I dont need to pay in full, I think my account was flagged by fraud department as there were a serious of spends in a short period of time. The advisor told me that the account is fine and is well below the limit. I am still not very happy as to why an advisor phoned me yesterday and said that fuill payment was required.

Another call I think, thanks for your replies