Paying off my cards

Tonylpool

I have just noticed that the CCA that Capital 1 sent me today advises that all their default fees are £12. For those of you who are aware, they only changed their fees to these amounts on the 31/8/2006 whereas my agreement was dated April 2006 and even includes an overlimit fee of £20 incurred in July 2006.

I shall now once again offer a token payment, request removal of the default until they can provide a true agreement. I will threaten to stop payments if they dont agree.

never-in-doubt

Tonylpool wrote: »

I have just noticed that the CCA that Capital 1 sent me today advises that all their default fees are £12. For those of you who are aware, they only changed their fees to these amounts on the 31/8/2006 whereas my agreement was dated April 2006 and even includes an overlimit fee of £20 incurred in July 2006.

I shall now once again offer a token payment, request removal of the default until they can provide a true agreement. I will threaten to stop payments if they dont agree.

Well why not add something to that effect, i.e. you've stated the charge as £12 but at the time of the agreement it was £20.... therefore you've breached CCA and so to solve this amicably, without my pressing for disclosure of said original agreement which you've proved you do not have by the inconsistent charges, I will make one last offer of XX% (no more than 40% to clear the debt)

Also add the section within this letter, to remind them to remove any default etc.... 8. Default Removal - Offer of F&F Settlement

Tonylpool

Right, Capital 1 reply is done, we'll wait in anticipation!

It was going to be Barclaycard day today! Presently, I owe them £2400 and this is showing as an arrangement on my credit file. My monthly payments on this arrangement are £11.30. I actually have the money to settle this in full, however I would like really to be able to pay any arrears and keep paying a monthly payment to see if they will keep the card open - does anyone have any experience of Barclayard?

Also, if they get wind that my finances have improved, are they likely to issue a default?

Tonylpool

Hi guys, I've spoken to Barclaycard and they will only accept my the full outstanding amount of £2500 to resolve this. I have the money to pay them and to be fair they have been one of my good creditors by freezing all interest. Obviously they have noted on my credit file that this is an 'arrangement' and my credit file shows my payments are up to date. If I pay them the full balance they advised that my account will be shut down and that I can reapply for a Barclaycard in 6 months. Will my credit file still show 'arrangement' when I have paid or just a settled account?

Any help would be appreciated.

Tony

never-in-doubt

Tonylpool wrote: »

Hi guys, I've spoken to Barclaycard and they will only accept my the full outstanding amount of £2500 to resolve this. I have the money to pay them and to be fair they have been one of my good creditors by freezing all interest. Obviously they have noted on my credit file that this is an 'arrangement' and my credit file shows my payments are up to date. If I pay them the full balance they advised that my account will be shut down and that I can reapply for a Barclaycard in 6 months. Will my credit file still show 'arrangement' when I have paid or just a settled account?

Any help would be appreciated.

Tony

It will show as 'settled' but will also show the A/P marker as the last activity plus all the late payments in the account history section...... Don't get confused with Barclays - they are by no means a 'ggod creditor' - they are actually one of the worst (after Crappy1 of course :cool:)

But if you do make a F&F offer you ought to ask for it in exchange for a clean credit update, i.e. removal of all late payment markers and a/p marker. Can do no harm asking

Tonylpool

Thanks NID, there have been no late payments, I have maintained everything under the agreement. do I just ask them to remove the indicator?

never-in-doubt

Tonylpool wrote: »

Thanks NID, there have been no late payments, I have maintained everything under the agreement. do I just ask them to remove the indicator?

Yes, have a read here to see the variation assuming it was a default - the same principle applies....

Unenforceability & Template Letters II

In particular, this post: 8. Default Removal - Offer of F&F Settlement

To confirm, I am more than happy to settle as much as 50% of the total amount owing so long as you can agree to, and ensure that, the following actions will be carried out;

• The Default Notice will be removed
• The Status of the account will change from “Defaulted” to “Settled”
• The Current Balance will appear as £0.00
• The Default / Delinquent Balance will be set to £0.00
• There will be no date in the “Defaulted Date” field (as it will be removed)
• There will be no date in the “Date Last Delinquent” field on the report
• This will apply to all 3 Credit Reference Agencies, namely Experian, Equifax & Call Credit

If you're happy with my proposal, please respond confirming each of the above points on official letterheaded paper, confirming the exact amount owing and I will send a cheque by return. Failure to agree will result in more formal papers being sent, by return.

You would change the wording from default to arrangement to pay/late payment markers...... follow me?

Tonylpool

Thats great, thanks NID. Letter done and in the post!

Tonylpool

Hi Guys, I have had a response from Barclaycard today in response to my letter sent to them on 27/11/09 asking me to contact their office to discuss it further. My letter was:-

I refer to the above-mentioned account and further to my conversation with Roobali at your offices on 24 November 2009. She confirmed the outstanding balance of £2555.76.

With the assistance of a family member, I can now offer the full amount of £2555.76 in full and final settlement of this account. This offer is made strictly on this basis and that no further interest or charges will be incurred and as discussed with Roobali that the account is to be closed down. She did advise that I could reapply for a Barclaycard after a period of 6 months from the date of settlement.

To confirm, I am more than happy to settle the total amount owing so long as you can agree to a clean credit update, and ensure that, the following actions will be carried out in respect of my credit file;

• The Special Instruction Indicator showing ‘arrangement’ will be removed
• The status of the account will change from ‘arrangement’ to “Settled”
• The current balance will appear as £0.00
• This will apply to all 3 Credit Reference Agencies, namely Experian, Equifax & Call Credit

If you're happy with my proposal, please respond confirming each of the above points on official letterheaded paper, confirming the exact amount owing and I will send a cheque by return.

I look forward to resolving this matter.

I have contacted their call centre in India today who said that my credit file will be marked as settled. I have kept up to date all the 'arrangement' payments of £11.30 under the agreement and their is no default been issued on this account. Should I just pay this amount now and have it cleared from my file?

Cheers

never-in-doubt

Tonylpool wrote: »

I have kept up to date all the 'arrangement' payments of £11.30 under the agreement and their is no default been issued on this account. Should I just pay this amount now and have it cleared from my file?

Cheers

You need to ensure that it does not link back to this at all, i.e. there should be no arrangement to pay marker etc... (A/P marker). But whatever, it may be best to get rid...