1st Credit - Barclaycard?

braken2000

Good Evening everyone!

I have just recieved an odd text message asking for me to call 1st Credit with a reference to discuss my account with a possible 25% discount.

From what I have found so far this appears to be with Barclaycard who I have some debt with. I have financial issues with BC and have failed to keep up the agreement because i foolishly said I would pay more than I could afford.

I have a few questions if anyone has any info:
1. Who is 1st Credit and why are they trying to get hold of me?
2. I have had this card for over 6 years and someone said that I can claim it back, is this right?

If anybody has any info on 1st Credit I would appreciate you letting me know your expereinces. The internet has come up with some scathing reviews and I am a bit scared to be dealing with them in all honesty!

Thanks in advance!

merseyblue

Hi there,

I haven't dealt with 1st Credit but most debt collectors will have scathing reviews posted about them They have most likely bought your debt VERY cheaply hence why they can offer you a discount for payment.

I think I can help you more with question 2! I think you are referring to this debt being 'Statute Barred'. There is loads of info available on this on the Internet (I can't post links yet - sorry!) but here is a brief overview of what it means (taken from HMRC website):

Law relating to debts: statute-barred debts

If a lender allows time to pass without receiving any payment an action for recovery may become barred.


Under the Limitations Act 1980 the time limits are

• in simple contracts, 6 years
• in contracts under seal, 12 years.

If the debtor acknowledges the debt in writing or makes a part payment within the original limitation period, then the time limits start to run again from the date of acknowledgement or the date of payment.

So I guess if you don't want to pay up perhaps the answer is to ignore them?

Obviously if you're worried about it speak to the CAB!

Good luck x