Credit card referred to collection agency

goldypurple

Hi

Im after some help, i have or had a card with capital one, which i got behind with, i tried to agree with them a payment but were unwilling to accept my offer.

my debt with cap one is 2400, my offer per month is 40 pounds.

i have paid this payment for around 4 months while trying to get them to agree, but they have now refered it to fredpay or fredrickson international collection agency.

i have contacted them to try and sort a payment term and i offered my payment of 40, but at a struggle could afford 60, but ive been told that the min they can accept is a 108.

can anyone help, if i could afford the payment what they are asking i would pay, but cant otherwise i would be in this position.

But i thought that they should be willing to accept my offer.

Thanks

bargainbetty

Write to the DCA. Send the letter recorded/signed for, and keep a copy. print your signature. Explain that:

a. all further correspondence/communication with them shall be in writing.
b. You are unable to meet the payments they request but wish to enter a payment plan with them. You have used the Debt Helpline's expenditure calculator and your maximum payment available under the scheme for this debt is £40 per month.
c. You are unable to increase this payment for the foreseeable future, but should your situation improve, you will contact them to advise them of this.
d. You have included the first payment. (do so, by cheque or postal order)
e. You would like their bank details to enable you to set up a standing order. You are sadly unable to agree to a direct debit (this is to protect you from them trying to empty your account)

Send that off. They will argue, but they will accept the payment eventually. Just keep your head and don't be bullied into something you can't afford.

fermi

Debt collectors usually push for more than you can afford, and make all sorts of "we may do this" or "may do that" threats to try and coerce you.

All you can really do is just be consistently reasonable, and only offer what you can genuinely afford and no more. No matter what.

Only communicate in writing, with a letter with the points in that bargainbetty has posted above.

Also have a look at the link:

https://forums.moneysavingexpert.com/discussion/comment/47811943#Comment_47811943

So perhaps adding in that:

Should the collector continue to pressurise you to make monthly payments in excess of what you can genuinely afford, and that would result in financial hardship for you and your family, then you will be reporting them to the OFT for breaches of sections 3.7 of the OFT's guidelines on debt collection.