Bailifs offering deal is it good ?????????

fijiflowers

hi, i really need some advice please,
i currently owe £3,400 and the baylofs have called today saying if i can pay the balance today they will drop it to £2,700. i am paying £50 per wk at the mo.
my only way to clear this amount is to put it on a credit card then transfer that amount to another credit card for interest free for a year.
but if i don't clear it in that time i will have to start paying interst so will i loose the original saving ??
not sure what to do carry on with the 50 a wk or pay on card ? they keep ringing an want an answer today, money is really tight so i need to make the most cost effective choice.
thanks in advance for any help you can give

lisyloo

Will they take a credit card payment?
Do you have a 0% card already or will you have to aplyy for one?

i.e. are you actually able to do this?

I don't think you should rely on being able to get credit in these "crunch" times.
It's difficult for everyone including people who probably have much better credit ratings.

On the face of it, it sounds like a good deal, for someone that has the money.
If you don't know how you are going top finance it in future then it's risky.

Could you get a family loan at all?

never-in-doubt

Hiya

Don't just agree to that! Offer less - much less! See here and send this style of letter as well, it covers you and also tells the DCA you want the default removed! 8. Default Removal - Offer of F&F Settlement

ILW

fijiflowers wrote: »

hi, i really need some advice please,
i currently owe £3,400 and the baylofs have called today saying if i can pay the balance today they will drop it to £2,700. i am paying £50 per wk at the mo.
my only way to clear this amount is to put it on a credit card then transfer that amount to another credit card for interest free for a year.
but if i don't clear it in that time i will have to start paying interst so will i loose the original saving ??
not sure what to do carry on with the 50 a wk or pay on card ? they keep ringing an want an answer today, money is really tight so i need to make the most cost effective choice.
thanks in advance for any help you can give

If you have easy acces to the money, why has it got to the stage of ballifs knocking on your door?

fijiflowers

well i have a barcly card i can put the £2,400 on to clear the debt then i have just been given a b.t credit card so could transfer the barcly card to the b.t one and have 12 months intrest free, all my debts would then be on this one card (b.t card) but then the total owed is £4000 and i don't think i can clear all that in a year.

AnxiousMum

If you're putting £2400 on a interest free card, how is the total owed then £4000? Or do you already have an existing £1600 balance on your Barclays card?

BASFORDLAD

Right one thing no one has bothered to ask is this:

Are they really baliffs or just jumped up debt collectors who have no power to do anything. Have you had a CCJ awarded against you. Have they the right to collect this debt (valid CCA etc)

You do not need to feel bullied by these cretins

People if your going to give advice at least get the facts right first. Once the OP's position is properly known then we can advise her better.

P.s if they are not baliffs why have you even allowed them to talk to you at door?,

fijiflowers

hi yes i already owe £1,600 which i have jus put on the b.t card for interest free for a year.
all the debts were incurred after my husband lost his job an we put it on credit card so there was just one place we owed.
we were also having to pay £210 per month on a loan we got to buy a car but missed some instalments as we did 'nt have enough an it went to the bailifs who agreed we could pay £50 a week up until now wen they have offered this.

BASFORDLAD

fijiflowers wrote: »

hi yes i already owe £1,600 which i have jus put on the b.t card for interest free for a year.
all the debts were incurred after my husband lost his job an we put it on credit card so there was just one place we owed.
we were also having to pay £210 per month on a loan we got to buy a car but missed some instalments as we did 'nt have enough an it went to the bailifs who agreed we could pay £50 a week up until now wen they have offered this.

Right but you havent said wheather they are baliffs (has it been court.ccj etc) or just a debt collection agency and if so which one?

fijiflowers

the loan we had and defaulted on was with the royal bank of scotland they said they sent us letters with warnings but to a previous address so we did'nt get any of them. an they passed our case and details on to the bailifs who i have only had phone contact with they are Morecroft.

never-in-doubt

fijiflowers wrote: »

the loan we had and defaulted on was with the royal bank of scotland they said they sent us letters with warnings but to a previous address so we did'nt get any of them. an they passed our case and details on to the bailifs who i have only had phone contact with they are Morecroft.

Moorcroft (note spelling) is not a bailliff - they are a DCA.

No powers at all......