debt repayments

putupon

hello I defaulted on a credit card and have been paying a nominal monthly payment to a dca for a number of years.I get no replies to my letters and dont realy no how the account is progressing.how long do I have to keep paying is there a time limit.

Marisco

Hi putupon, I'll tell you what I've just done. My oh has been paying for years as well, and because its so long, I cannot find any paperwork, with addresses, so I just cancelled the SO for this month!! We'll soon get a letter off them telling them how much we still owe!!;) As soon as I get that, I'll reinstate the SO and pay the missing payment! I had to resort to this years ago as well, as they were ignoring us asking for information. It took about a week before I had all the info I originally asked for!!

Tixy

putupon wrote: »

hello I defaulted on a credit card and have been paying a nominal monthly payment to a dca for a number of years.I get no replies to my letters and dont realy no how the account is progressing.how long do I have to keep paying is there a time limit.

You will have to keep paying until the debt is paid off. But you should ensure you get an up to date statement from them so you can see how much you owe and whether they are adding on interest so you know if the debt is increasing or decreasing.

Have you sent your letters recorded delivery? I would try that first asking for a statement of your balance (and keep a copy for your records). If they don't reply within a month then I would go with marisco's suggestion to cancel the SO/stop payments until you hear from them.

podperson

I would write to them recorded asking for a statement and saying that unless you receive one within xx timeframe you will be cancelling payments to them. You have a right to know where your money is going and what your outstanding balance is.
If you don't get a reply from them then cancel payments, as mentioned above they will be quick enough to contact you if they're not getting their money!