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determinedtodothis

Hey one and all,

My friend has asked for some advice and I'm not 100% but i think Next don't have a CCA for him..

Basically he's got an outstanding balance, has rung to say he can't afford to clear the arrears in one go but can spread them over the next few months. they agreed to him clearing the debt in 2 months and said they'd send confirmation in the post which they have but they are asking him to sign and return a Credit Agreement....

That suggests they haven't got his orginal, in which case could he be in a position to negotiate a smaller payment over a longer term as he is stretching himself to clear the arrears in the next 3 months...

fermi

Certainly don't sign any new agreement unless there is something in it for you.

Have they been defaulted yet?

If not and they are concerned about their credit history, then they may want to take up the offer.

Otherwise (already defaulted), I would say they are in a position to negotiate.

GeorgeUK

It may depend on his situation.

Is there a default on his credit file for this debt?
If not, they may put one on if he doesn't pay.

If there is already a default though, he should be able to negotiate a longer period over which to repay the debt. The worst they can do is threaten to take him to court (where they would need to produce the original credit agreement) and this would probably take months anyway.

Either way, he definately shouldn't be sending in any new credit agreements.