Default notice on credit rating

nigelpugh

Hi, wonder in anyone can offer advice. 14mths ago I was contacted by a company called Credit Issues who said that it was likely they could write off my Citi credit card outstanding balance. Citi could not provide a true copy agreement and I stopped paying the monthly payments 8mths ago. I have recently had a letter from a company called Collect Direct(UK) informing me that unless I pay the balance in 4 days further action will be taken, I take it they have bought the debt from Citi although am unsure on this. I have checked my credit file and a default is registered under my name. What should I do??? Wait until the ruling in January from the high courts on the recent debt cases or offer a minimum sum to Collect Direct in full and final settlement and if so should I make that conditional on them clearing the default??? please help.......

chanz4

you will be liable to be honest, I would offer a 75% bal offer

bhhc121

Yes you will still be Liable, also from research Collect Direct are not debt purchasers, so they will be acting on behalf of citi, I would suggest you offer a resonable settlement (if able to raise) or make a monthly offer based on your circumstances.

nigelpugh

Thanks for your input,

If the court ruling goes in favour of claimants in January I take it they would have to remove my default as they cant provide a copy of the agreement also any balance outstanding would have to be written off as not enforceable. I know there are mixed feelings about these claims however if others are claiming with success why shouldn't we all.. I think maybe I should wait until the ruling until I make an offer or clear the the outstanding