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CC Arrangements - Payment reviews?
bd8an
Posts: 1 Newbie
in Credit cards
Hello,
Hopefully someone here can help me with a particular DCA I am having issues with.
I buried my head in the sand for far too long with some old debt, which ended up mounting to over £18,000. They were split between 3 credit cards.
At the start of the year I made a commitment to paying this off, owning up to the fact there was an issue and it was my debt to repay and not try to get it written off. I am happy with this decision.
It's been going really well in the main, and I've cleared over £8,000 this year and should be debt free by the end of 2010 if all goes to plan, but I keep getting letters from one of the DCAs.
It's from CapQuest Debt Recovery, who are managing the repayments "on behalf of their client, Capital One (Europe) plc.
The letters, probably received every 4-6 months now continually ask me to increase the amount I am paying back to them. The latest letter, received today, is asking me to up my payments from £175 to £210.
Firstly I don't see the point. I've got about £2300 left to pay which equates to 13 payments at the original rate, or 11 if I were to take up the new rate of repayment, which I can't afford to do.
I've already written a letter back (waiting to print) telling them I can't amend and that £175 suits me, but I wondered if there was anything I could include which gets them to stop making these requests of me?
I recall something some time ago that as long as I am paying over £1 a month nothing can be asked? Am I right? Was this for something else? Is there anything I can refer to them in my letter to make them stop these review letters or do I have to keep replying to them?
Each time an envelope lands on the mat and has a return address of one of the 3 agencies, I get a little more beaten down about my "old problem" which I'm now trying to resolve. I used to shred letters without opening at the height of my debt...
Hope someone can help!
Hopefully someone here can help me with a particular DCA I am having issues with.
I buried my head in the sand for far too long with some old debt, which ended up mounting to over £18,000. They were split between 3 credit cards.
At the start of the year I made a commitment to paying this off, owning up to the fact there was an issue and it was my debt to repay and not try to get it written off. I am happy with this decision.
It's been going really well in the main, and I've cleared over £8,000 this year and should be debt free by the end of 2010 if all goes to plan, but I keep getting letters from one of the DCAs.
It's from CapQuest Debt Recovery, who are managing the repayments "on behalf of their client, Capital One (Europe) plc.
The letters, probably received every 4-6 months now continually ask me to increase the amount I am paying back to them. The latest letter, received today, is asking me to up my payments from £175 to £210.
Firstly I don't see the point. I've got about £2300 left to pay which equates to 13 payments at the original rate, or 11 if I were to take up the new rate of repayment, which I can't afford to do.
I've already written a letter back (waiting to print) telling them I can't amend and that £175 suits me, but I wondered if there was anything I could include which gets them to stop making these requests of me?
I recall something some time ago that as long as I am paying over £1 a month nothing can be asked? Am I right? Was this for something else? Is there anything I can refer to them in my letter to make them stop these review letters or do I have to keep replying to them?
Each time an envelope lands on the mat and has a return address of one of the 3 agencies, I get a little more beaten down about my "old problem" which I'm now trying to resolve. I used to shred letters without opening at the height of my debt...
Hope someone can help!
0
Comments
-
The £1 offer is really only available if thats the best you can do (not the £175 currently)
I'm sure someone will be here to let you know the best way to go about this soon.0
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