What to do now? Help Please

flis21

Hi All,

Well me and my husband had our lightbulb moment a couple of weeks ago and decided to get our debt situation sorted. We did an IVA the year before last, which failed last year. We have not been contacted by quite a few of our creditors since then.

So, I got writing letters to all our creditors to confirm our current outstanding amounts with a view to making offers of payment. (Told them all we had been in contact with CCCS).

So, we got a letter from Capital One this morning saying

Dear ....

Thank you for your recent letter.

Unfortunately we can't help you with your account as you have broken the terms and conditions of your Capital One credit card and we have sent you a default notice.

Your account may be transferred to our Recoveries team or a Debt Collection Agency.

Yours Sincerely

What are we supposed to do now? We haven't heard from any collection agency in respect of this debt. Would like to start getting it paid back, but don't know who to start paying.

Should I write to them again, or should we wait. Not sure if the fact we have contacted them will have woken it up and they might send it out soon, so we might hear something from a DCA soon anyway.

Just a bit flummoxed, expected people to be biting our hands off when we started to offer to pay our debts off!!

Any advice gratefully received.

Flis

Storm

I would leave it for the moment, but keep the letter they sent you, and the one you'd sent before so that they can't start saying you've ignored the debt.

You can always start putting some money aside that's earmarked for this debt, and if you're setting up arrangements with other creditors remember to allow an amount for this one too.