Advice Please...Re Reliable Collections...

Simon.G

I'll keep this brief...

OH has amassed catalogue debt of £2500 ish with Fifty Plus (just found out!). Has been 3 months since she has paid anything in due to household financial situation changing. They asked for £120 a month which she said was unaffordable. She offered about half of that, but £65 is interest and £12 is late fee wach month so the balance would be increasing over time. The OH asked if they would freeze the interest and they refused and said if we didnt pay they would take her to court.
OH agreed to pay £120 a month including the interest as she did not want to go to court.
I have spoken to Fifty Plus who cemented their position and would not budge. £120 or court. They would not even accept a smaller amount WITH the interest bearing.

Is there any way we can get them to freeze the interest and charges on the account so we are only paying the true cost of the goods off?

They have advised that they will only accept account freezes if they get a request from the CAB or similar, and that they will not accept a Income/Expenditure from us personally.

In addition to this, the OH has already set up a payment plan with PastDue Credit Solutions for a Simply Be account she had a few years ago that she had forgotten about (before me!) and where they have just caught up with her.

Would it be better to cancel the DD with Reliable Collections (I know they are part of JD Williams) for the Fifty Plus debt, and then let them sell it on to someone like PastDue so that we can arrange a payment plan that does not involve interest?

For the record, her credit rating is poor as it is so there is no fear about extra defaults etc if thats what it will take so that we can pay a decent figure each month.

Any help will be apprecaited.

HappyMJ

Simon.G wrote: »

I'll keep this brief...

OH has amassed catalogue debt of £2500 ish with Fifty Plus (just found out!). Has been 3 months since she has paid anything in due to household financial situation changing. They asked for £120 a month which she said was unaffordable. She offered about half of that, but £65 is interest and £12 is late fee wach month so the balance would be increasing over time. The OH asked if they would freeze the interest and they refused and said if we didnt pay they would take her to court.
OH agreed to pay £120 a month including the interest as she did not want to go to court.
I have spoken to Fifty Plus who cemented their position and would not budge. £120 or court. They would not even accept a smaller amount WITH the interest bearing.

Is there any way we can get them to freeze the interest and charges on the account so we are only paying the true cost of the goods off?

They have advised that they will only accept account freezes if they get a request from the CAB or similar, and that they will not accept a Income/Expenditure from us personally.

In addition to this, the OH has already set up a payment plan with PastDue Credit Solutions for a Simply Be account she had a few years ago that she had forgotten about (before me!) and where they have just caught up with her.

Would it be better to cancel the DD with Reliable Collections (I know they are part of JD Williams) for the Fifty Plus debt, and then let them sell it on to someone like PastDue so that we can arrange a payment plan that does not involve interest?

For the record, her credit rating is poor as it is so there is no fear about extra defaults etc if thats what it will take so that we can pay a decent figure each month.

Any help will be apprecaited.

You can try. They may or they may not. Many creditors will only accept SOA's that have been created with the assistance of a debt charity so take the free advice and set one up. It's not a question for us it's a question you need to be asking the creditor.

*Louise*

Simon.G wrote: »

They have advised that they will only accept account freezes if they get a request from the CAB or similar, and that they will not accept a Income/Expenditure from us personally.

Can you not go to CAB and ask for help in getting the account frozen?

fermi

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=review_pack_for_people_with_available_income_to_make_payments_to_their_creditors

Interest

It is very important to try to get creditors to freeze interest. It makes it much more difficult to reduce the balance you owe if creditors won't do this. If you are offering small payments, the interest being added may be more than you are offering and the debt will only get bigger.

Keep trying to persuade your creditors to freeze interest; sample letter C at the end of this fact sheet may help you. If some creditors freeze interest let the creditors who are refusing to freeze interest know about this.

Remember

If you are taken to the county court interest on the debt is normally frozen, and it can be a good idea to remind the creditors of this.

If creditors are refusing to freeze interest you could threaten to withhold payments until they do, particularly if your payments don't even cover the interest.

Simon.G

http://www.nationaldebtline.co.uk/en...heir_creditors

Thanks, will take a look.