nasty surprise from wife !!!

Moggles_2

Kavanne wrote: »

Which lender asked you to do this? Would be good to have a list. Even if the original owner of the debt is an additional cardholder on the account they are still no longer responsible for the debt. Only the new account holder is responsible for the debt once it is transferred.

OH and I have swapped balances on our cc accounts with Barclaycard, Capital One, Citi, Co-op, HBOS, HSBC, MBNA and RBS (there may have been others) to take advantage of promotional rates. Neither of us has additional cards on these accounts.

As you know, you cannot hold a credit card jointly. The person whose card the balance is shifted to, becomes solely liable for the debt, so it's hard to see how the presence of an additional cardholder would have a bearing on the matter.

At the end of the day, the card company is after your business. IME, they're not really interested in knowing who ran up the debt, as long as you, their customer, pay up on time each month!

lurchy

have received letter from ccscollect... on the phone they said a settlement figure of £770 to clear it . in the letter the fee they want is the same(£770) but it states a partial settlement. i presume that means they will come back for more. can they change their mind between call and letter. if they want the full £1300 can i go direct to nationwide and bypass their fees, or now its handed to agency is it too late.. sorry for so many Q's but i'm a bit stuck...thanks

nearlyrich

Hi lurchy

Sorry to hear you are having this problem when you have the worry of you wife being ill also, I will move this thread to DFW where there are lots of people who know the ins and outs of debt collection agencies.

anotherpaul_2

lurchy wrote: »

have received letter from ccscollect... on the phone they said a settlement figure of £770 to clear it . in the letter the fee they want is the same(£770) but it states a partial settlement. i presume that means they will come back for more. can they change their mind between call and letter. if they want the full £1300 can i go direct to nationwide and bypass their fees, or now its handed to agency is it too late.. sorry for so many Q's but i'm a bit stuck...thanks

They can say whatever they like on the phone and unless you're recording it (and inform them at the start of the call) it hold no weight.

Don't give them a penny until the agree a "final settlement". Write back.

I'm not an expert, but my reading of the term "partial settlement" is not the same as "final", so they'd probably take the money and come at you for more.

Billy_two_speakers

Moggles wrote: »

OH

As you know, you cannot hold a credit card jointly. The person whose card the balance is shifted to, becomes solely liable for the debt, so it's hard to !

Rubbish of course you can have joint cards, thats why so many people get stung when one person spends lots on the card then runs off leaving the other person to pick up the bill

joint and equal liability is what they say when they come for the dosh

Snaggles

Billy_two_speakers wrote: »

Rubbish of course you can have joint cards, thats why so many people get stung when one person spends lots on the card then runs off leaving the other person to pick up the bill

joint and equal liability is what they say when they come for the dosh

It's not rubbish actually - credit cards are SOLE accounts. You can have an additional cardholder, but you are not jointly and severally liable for the debt, only the account holder is liable. If you have a credit card account, and your additional cardholder runs up a debt, it's still you that's liable (that's how people sometimes get stung, when the other person runs up a debt and then runs off).

Joint and several liability is for things like accounts with overdrafts, loans etc, where you CAN have joint accounts.

Bunnyinthelights

Not to make light of the issue, but I bet my DH wished I only had had ~£1300 ~ of debt. I hope she is on the mend.

Billy_two_speakers

Snaggles wrote: »

It's not rubbish actually - credit cards are SOLE accounts. You can have an additional cardholder, but you are not jointly and severally liable for the debt, only the account holder is liable. If you have a credit card account, and your additional cardholder runs up a debt, it's still you that's liable (that's how people sometimes get stung, when the other person runs up a debt and then runs off).

Joint and several liability is for things like accounts with overdrafts, loans etc, where you CAN have joint accounts.

I stand by what I say some banks ie co op run joint cards I have one Northern Rock have done them too they are not that common most where offered with other products years ago

before days of 100% house loans cash backs and things like that you could buy a house and get a JOINT card

the interest charged on the card is the same rate as the house

I have just telephoned and asked the co op and they confirm what I have posted

MrsTinks

Guys I think the discussion of joint liability etc is fascinating but somewhat off topic Can we get back to the question at hand and if you feel the need for a new thread about liability etc then maybe open a new one?

OP hope your wife is better soon.

Yes they can write whatever they want between calls and letter going out - Send them a nice letter back saying that you will arrange payment to them provided they will accept the amout as the full and final payment for the debt and no further demands will be made now or in future to recover any outstanding amounts and that your wifes credit file will be marked as settled for this debt.

Make sure they know you want this is writing Once you get it let us know exactly what they write

Snaggles

This is from MSE itself:

MSE wrote:

Marriage doesn't hurt, joint finances does.
Simply marrying or living with someone with a bad credit score shouldn't impact your finances, as third-party data (i.e. someone else's info) doesn't appear on your file.
Yet if you're 'financially linked' in any product, it can have an impact. Even just a joint bills account will mean you are co-scored. If one partner has a poor history, keep your finances rigidly separate, and it should maintain access to good credit for the other.
As a note, there's no such thing as a ‘joint' credit card; technically it's one person's account and the other just has access to it.
If you split up with someone you've joint finances with, once the accounts are separated, always write to the credit reference agencies and ask for a notice of 'disassociation', to stop their credit history affecting yours in the future.

However, this discussion is not really relevant to the original post, so I will leave it there.