Marbles Credit Card / Benefical Finance

redsy123

Hi everyone,

I have been looking over the forums recently here and a few other sites and noticed several people have been successful in having credit card / loan debts wiped out.

I took out a credit card with Marbles HFC around December 06 with a £5000 limit. I was young and naive, subsequently I spent as much as I could on the card and ended up owing £5,600. I lost my job and as I didn't have any payment protection in place ended up in a nightmare with the huge debt and no income.

After much correspondence with them, around June 07 (I think) we reached an arrangement whereby Marbles would knock £1,200 off the debt, switch the debt to Beneficial Finance, freeze the interest and set repayment £36.03 for the next ten years. Whilst the immediate outcome of correspondence was a fantastic weight lifted, I am still encountering problems.

In the terms, it stated that I have to pay via Direct Debit and that I would carry on receiving monthly statements to show how much was owing and include a bank giro to pay over to fasten the repayment. In the last 18 months, I have received preciously ZERO statements.

Every month since the arrangement was set-up I have paid on time via an internet transfer from Nationwide, I have requested a Direct Debit mandate on more than six times however not one has arrived at my address.

I haven't spoke to them for around a year now and NOTHING has come through the post.

I have now been in stable work for over a year and have enough to offer Beneficial a full and final settlement for a reduced amount...

Should I consider stopping payments to them for say 2/3 months and wait for their letters to arrive, then send them a full and final settlement offer OR should I send them a letter now whilst I have kept up a squeak clean payment plan for 18 months??

OR should I consider stopping payments altogether then sending the "I do not acknowledge this debt" letter?

Any thoughts are great

Thanks
Dan