help please :(

Little_Miss_Lexi

I've been contacted by a debt company who I owe 1500 to, they've threatened to make me bankrupt and I was wondering if I can put this loan on my M&S card to pay this off??

Will they accept me putting it on my m&s card?? At the moment I'm with the 15 months 0% on purchases and if it make any sense I would prefer to get this debt out of their hands and into mine, like put it on a card so I can pay it back without the fear of bailiffs and such at my door.

Would this be classed as a balance transfer?? if so would I be better off applying for a 0% balance transfer card to pay this off??

MichaelCR

Little_Miss_Lexi wrote: »

I've been contacted by a debt company who I owe 1500 to, they've threatened to make me bankrupt and I was wondering if I can put this loan on my M&S card to pay this off??

Will they accept me putting it on my m&s card?? At the moment I'm with the 15 months 0% on purchases and if it make any sense I would prefer to get this debt out of their hands and into mine, like put it on a card so I can pay it back without the fear of bailiffs and such at my door.

Would this be classed as a balance transfer?? if so would I be better off applying for a 0% balance transfer card to pay this off??

Debt collection agencies are nothing to fear, They have no power, No authority, And will use bullying tactics to get money from you. For a start I'm more than sure you can't go bankrupt on a debt of £1500.

Remember, that "debt" collection agencies have bought the so called "debt" and therefore it is paid. They are third party interlopers who have no contract with you. They have stupidly paid your debt for you and now are clutching at straws, Do not feed the system.

Firstly, Who is the original creditor ? I would try and negotiate with them a full payment, Put your offer in writing, Send it to someone higher up then the customer service department, Explain how you went through a tough time with finances, And how you've learnt a lesson, I managed to get a small default removed from my file as i wrote to the original creditor and went the sympathy approach, I paid in full (Instead of what they offered me which was a 50% off if i pay).

Only if its a council tax, or court fine, or Penalty notice from either the police or Council, Would you have to pay it to avoid further action.

opinions4u

MichaelCR wrote: »

Debt collection agencies are nothing to fear, They have no power, No authority, And will use bullying tactics to get money from you. For a start I'm more than sure you can't go bankrupt on a debt of £1500.

£750 last time I looked. Although it is rarely in the interests of a debt collector to do this.

YorkshireBoy

Little_Miss_Lexi wrote: »

...I was wondering if I can put this loan on my M&S card to pay this off??

At the moment I'm with the 15 months 0% on purchases...

Use the forum search tool (top right of your screen) looking for "Sterling travellers cheques".

drbesty

Surely the payment would just be classed as a purchase? A long time ago I owed Barclaycard £1000, I agreed to a full and final settlement of £300, then paid it off using another Barclaycard, oh the irony. Btw if you owe £1500 to a debt collecters the chances of getting another credit card are pretty much as close to zero as you can get

chattychappy

MichaelCR wrote: »

Remember, that "debt" collection agencies have bought the so called "debt" and therefore it is paid. They are third party interlopers who have no contract with you. They have stupidly paid your debt for you and now are clutching at straws, Do not feed the system

Stupid or not, they've made a business out of it.

Contractual rights CAN be assigned. In particular a debt is a "chose in action" and can be assigned under the Law of Property Act s136.

It is misleading to suggest that an assignee cannot enforce against the OP. They can do - provided they follow the correct process.

m00m00

which they very rarely do.

They really on bullying, intimidation and fear.

fozmcfc

I would say the OP is extremely lucky to have been accepted for the M&S whilst having a default on their credit record.

Wondering if it is over 6 years old and therefore no longer on the record.

MichaelCR

If you think a Debt collector or bailiff is coming to your address put the following notice on your gate to your house, Or on a stick in the ground.

NOTICE

REMOVAL OF IMPLIED RIGHT OF ACCESS

Notice to agent is notice to principal, Notice to principal is notice to agent.

I hereby give notice that the implied right of access to this property has been removed in respect of the following

Any Employee, Agent, Principal or any other PERSONS acting on behalf of the CORPORATE COURTS, LOCAL COUNCIL, PRIVATE CORPORATION, PUBLIC AGENCY or GOVERNMENT AGENCY.

ANY TRANSGRESSION OF THIS NOTICE WITHOUT our pre written signed consent may result in a fine of £10,000 for the Man, Woman and Corporation separately.

By stepping beyond this point you agree to the terms and conditions above.

24HR CCTV in operation.

That will keep them away.

Little_Miss_Lexi

Thanks for all the advice/info. I feel more at ease now knowing it's less likely they will go further, I've asked for monthly installments and they have asked me what I suggest as a repayment I'm thinking £50 a month?? I keep hearing that they have to accept this and cant refuse because I've made the offer? the email asks for a financial status, eg, job income and out goings, do I need to do the full report and send it off?



I was surprised I got the M&S card too in all honesty, I got a 4k limit which also quite surprised me, as far as I know this debt doesn't show up on my credit report because the only thing that ever has was a barclays one, so I'm trying to get this sorted asap.

Tesco turned me down first so I just assumed marks would too but I got an agreement through the post so I'm keeping hold of this one.

MichaelCR

Little_Miss_Lexi wrote: »

Thanks for all the advice/info. I feel more at ease now knowing it's less likely they will go further, I've asked for monthly installments and they have asked me what I suggest as a repayment I'm thinking £50 a month?? I keep hearing that they have to accept this and cant refuse because I've made the offer? the email asks for a financial status, eg, job income and out goings, do I need to do the full report and send it off?

Who's that in relation to ?