Default with Argos

jamclock

Hello, i'm looking for some advice on a defaulted debt with Argos that happened in December 2008, after a few late payments the account was defaulted and we were told by Argos that the account would be handed over and interest frozen, we have now been paying the debt for nearly 4 years and in our opinion have way overpaid the defaulted amount, we need some urgent advice on this please.

shezam

Who have you been paying? Argos or a dc? Contact whoever you have been paying and tell them you want a full list the debt at time of default and payments made. Have you been paying direct debit?
Sx

Tixy

Are they sending you statements?
If not write and ask for a full statement of account. Then you can see how much you have repaid, whether interest was frozen and has remained frozen and how much you owe.

jamclock

Thanks for the swift replies, according to experian the account was defaulted on 8th December 2007 with the amount showing and again we were told by argos that the only way to decrease payments and stop interest was to hand the account to a collection service which is what happened and yes we can trace every payment since, whether payment was by Card or DD the last statment was march but only showed how much we still owed and asking us to increase payments, but again if interest was frozen at the time of default which we were assured it would be then we have way overpaid. I guess the question being asked is can a collection agency still add interest even though we were assured the interest was frozen.

Tixy

Did the debt collection agent actually ever confirm in writing that interest had been frozen?

Are you using the default balance from the credit report as your starting balance? does this tie in to statements from Argos on/or around that date?
Sometimes the defaulted balance on the credit file is not the full balance owed on the account.

So the DCA didn't send a transaction statement in March just wrote to you telling you the balance? You need to obtain a detailed statement of account from them covering from late 2007 to now.

jamclock

If they did confirm it in writing then I guess if we received that it has now gone adrift, yes the balance is from the credit report and yes no transaction statement just a balance. Surely the defaulted balance would be the amount owed?

Tixy

jamclock wrote: »

Surely the defaulted balance would be the amount owed?

You'd think so but it isn't always, sometimes its just the amount of arrears a person is in, sometimes it seems like an almost random number. Plus there would have been a period between the default date and when it was sold on when interest & probably charges would have been being added and that can would also increase the balance passed on to the debt collector.

fatbelly

Tixy wrote: »

Are they sending you statements?
If not write and ask for a full statement of account. Then you can see how much you have repaid, whether interest was frozen and has remained frozen and how much you owe.

That's the key. Once you have the figures you can see what was applied and when. Then you can argue.

jamclock

Thanks for your ongoing help,

Interesting developments, the figures work out but the company that defaulted us and still own the debt is not the company we have been paying (whom have never defaulted us) so it seems Argos have transferred the debt to 2 companies one which we have been paying and the other we never corresponded with but it is them who defaulted us. What sort of nonsense is that surely Argos have a responsibility to let other companies know before dropping us in the cr*p. So now to get this company to remove the default I guess.

Tixy

You might find that the 2 companies are one and the same - but under 2 different trading names, or that one has appointed the other to collect the debt on their behalf. Its seemingly intended to confuse. As long as their is only 1 default on your credit file (either in argos or a debt collectors name) thats the key.

jamclock

Latest update was neither company as far as they would let on was involved with each other so i'm hoping the other will lift the default that they had no right to put in place, fingers crossed. You've been a great help Tixy thank you hopefully update you tomorrow.