Debt still growing

Arfhurdaly

I have a halifax CC debt which has been passed onto to a DCA. Every month they are adding interest on.

Is there a way of stopping this? I thought they stopped doing this when in default.

gfplux

If this is your only debt, why not pay it off?

Arfhurdaly

I have other debts. I havent the money to pay them off. Was hoping to make F&Fs

Anyone advise?

Happytogetdebtfree

I dont know really, have you offered a payment plan ?

Arfhurdaly

I offered token payments but they didnt want to accept. Was only a symbolic £1 a month.
Not yet, as went down the cca route. Stalemate there. But still adding interest does help at all.
I reckon 50% of my total debts are interest anyway.

Deep_In_Debt

DCA's shouldn't add any further interest or charges onto your account.

DCA's buy the debts for pennies in the £ so you tend to get quite good F&F's with them - even 20% of the total amount is probably a MASSIVE profit for them.

I'd suggest writing to them with your budget details so that they can see that they are getting all you can afford even if it is £1.00. Even if they refuse, just keep paying it to show that you are trying the clear your debts and not hiding. If it goes to court (unlikely) then the judge is most likely to look favourably on you.

Do not speak with them on the phone - keep everything in writing.

mr.ton

They have no legal authority whatsoever to add any charges on top.
Make a complaint to Halifax themselves & report the DCA rogues to the OFT and trading standards.

Arfhurdaly

I dont think the DCA are adding their charges on top, but just keep updating what halifax say i owe them. The DCA is albion. I think they are part of the halifax group. But definately, the debt is growing every month since albion have said they "own" the debt.

Any F&F will take this into account.