Rbs

peacheywoo

OK folks - any thoughts on this one.

We have a credit card with RBS - for various reasons we ran into problems, contacted them and made an arrangement for a payment plan. That was reviewed in July last year and a new amount agreed (less than the previous amount). That was for 6 months and finishes at the end of this month. The payments are all up to date and are paid by standing order, the account is in credit and we haven't missed any payments

Yesterday we get a letter from debt collectors saying RBS has passed our account over to them and we need to pay just over 7k immediately.

As we only have £102 in the bank and no savings we are slightly screwed.

Any ideas what the hell is going on???

XXSCOTSLASSXX

The payments are all up to date and are paid by standing order, the account is in credit and we haven't missed any payments

if the account is now in credit then id say RBS are now owing you money?? Id call them asap to see whats going on request they issue you with the amount in credit and close the account....

peacheywoo

XXSCOTSLASSXX wrote: »

The payments are all up to date and are paid by standing order, the account is in credit and we haven't missed any payments

if the account is now in credit then id say RBS are now owing you money?? Id call them asap to see whats going on request they issue you with the amount in credit and close the account....

Sorry - I meant its within the credit limit...we're not over the limit.

Brogden

I do not have an RBS card now and they are not part of my current troubles. However, my experience seems to be that with virtually any card, IF an arrangement is struck to pay less than the contractual minimum, arrears will accumumlate (difference between contractual minimum and what has actually been paid) and once that figure hits a certain amount (a total equalling say 3 or 6 months' contractual payments) there will be a default.

I used to think that if an arrangement to pay were in place that this protected you from defaults and DCA's. No it does not. I assume a default notice was issued to you?

You must contact these debt collectors tomorrow (phone or letter - your choice) and refer them to the payment arrangement that was agreed with RBS. It is likely that you will have to go through Income and Expenditure and restart the arrangement from scratch. It is possible that they will not accept but they hopefully will. Whatever, do not let it stop you sleeping tonight. The DCA's 'opening gambit' is always that you must pay the whole balance. How many people do that I don't know........not many!!??

All the best,

Brogden.

ideal_knowledge001

Sounds like to me RBS have made a mistake, before anything you need to contact them first and see what this 7k is about? Don't worry about the debt collectors they won't do nothing at the moment maybe a few letters and calls here and there.

peacheywoo

Brogden wrote: »

I do not have an RBS card now and they are not part of my current troubles. However, my experience seems to be that with virtually any card, IF an arrangement is struck to pay less than the contractual minimum, arrears will accumumlate (difference between contractual minimum and what has actually been paid) and once that figure hits a certain amount (a total equalling say 3 or 6 months' contractual payments) there will be a default.

I used to think that if an arrangement to pay were in place that this protected you from defaults and DCA's. No it does not. I assume a default notice was issued to you?

You must contact these debt collectors tomorrow (phone or letter - your choice) and refer them to the payment arrangement that was agreed with RBS. It is likely that you will have to go through Income and Expenditure and restart the arrangement from scratch. It is possible that they will not accept but they hopefully will. Whatever, do not let it stop you sleeping tonight. The DCA's 'opening gambit' is always that you must pay the whole balance. How many people do that I don't know........not many!!??

All the best,

Brogden.

Thanks Brogden

We have had default notices I think - letters that have listed what we have paid against what we should have.

I guess all my hubby can do is speak to the debt collectors tomorrow - we've tried speaking to RBS but despite what their statments say there's no one to talk to about this over the weekend!!

If they want it all at once then I guess I'll put the kettle on and wait for the bailiffs!

Brogden

A lot of people on here would say write and don't speak! Maybe that's best but when I have had these sort of letters I have rung up straight away. Amazing how easy it can be to sort something out.

Bailliffs are a trillion miles away. Just make sure you keep up with whatever payment arrangement you make with them.

All the best - its horrible ringing, I know!

Brogden.

peacheywoo

Brogden wrote: »

A lot of people on here would say write and don't speak! Maybe that's best but when I have had these sort of letters I have rung up straight away. Amazing how easy it can be to sort something out.

Bailliffs are a trillion miles away. Just make sure you keep up with whatever payment arrangement you make with them.

All the best - its horrible ringing, I know!

Brogden.

I have no problem ringing - we've had ongoing issues since hubby's divorce and his illness so we're used to being up front about the problems - I'm just worried the debt collectors won't accept a payment plan that we can afford.

ladysparklexx

Hi is this your only debt or do you have others? I only ask as if you have others or even if its just this one it might be worth talking to CCCS or debt helpline about an offical DMP through them as they will help you to budget and will then speak to your creditors. They are seen by creditors as being fair and might help you out a bit more with a long term solution to your debt.

ladysparklexx

Hi your last comment as typed the same time as mine, phone CCCS tomorrow and they will help you to come to an affordable repayment.

sickasachip13

Hi,
I think these letters often come when the debt is transferred. We've had the same when our debt has been shifted around from the original creditor - suddenly a letter comes demanding everything, but then when you ring they generally accept the same terms that have been in place. Don't worry. For peace of mind I would ring them and ask what's happening, tell them what you can afford and then ask them to write with you in reference to your conversation.
SAAC