Calling all you gorgeous in the know people :)

cockneyfella

Hiya all,

I'm a newbie to this site, I’ve been reading it with extreme interest, can be a bit mind boggling, so i thought I’d bore you with my own little predicament, but I’d appreciate if i could be advised of my next steps.

I've recently brought a property a 6 months ago, which is probably relevant, as I’ve always rented, anyhow, after about 3 months ago i started receiving letters off Lowell Financial (a old friend on here i gather!!) the letter was regarding a credit card debt which was with Capital One, back in my carefree student days. Now, my credit limit on this card back then was only £200, the credit agreement was taken out in 2001. This account was defaulted in 2003, and the total was up to 1185.01p (don't forget the 1p) now obviously, this is the vast amount of interest they put on & their extraordinary high APR (praying on the vulnerable).

This Debt has been a vain of my credit life, it has now reared its ugly head again. I've been threaten with court now & they say it is now with their PRE-LITIGATION DEPARTMENT (Hampton’s Legal) i guess this is probably the same company.

Now, i also noticed on my credit report, they Lowell have defaulted me - didn't even know they had the right to do this, but i presume that it goes back to the small writing i signed with Capital One all those years back.

I'm really aggrieved to pay them anything at all, as £900 of the is interest which Capital One has added, and they’ve gave me credit nightmares for the past 4-5 years - i hear that if you open another account to pay them (Lowell) that this goes on your record for another 6 years?

So what I’m basically asking, is how do i get around paying these suckers nothing or very little, but getting them off my case (the letters are worrying my girlfriend) but i know most of them are idle threats.

So please can you good people, advise the best next step to take, as the word court and legal has freaked my G/F out, meaning I’m not in the good books, meaning........;)

Kind Regards

Cockneyfella

sammy115

Write and ask them for a CCA, default notice and statements. See how much is made up of charges and interest?

Just a thought!

cockneyfella

Thanks Sammy,

Is there a tem-plated letter, which i need to use?

I've read a few similar threads, but was not sure if i went around it in the same way. As the debt was defaulted in 2003 does that mean it is on my record till 2009?

It’s just come out the blue, and with a Wedding to pay for this year, i didn’t expect to get this old debt from a company I’ve never heard of, they have probably tracked me down on the electoral roll on my new property.

sammy115

http://www.learnmoney.co.uk/credit-cards/remove_default_notice.html

Read the info on this link. Not sure if it works but you can but try!

sammy115

Yes, it will be on your record till 2009, but presumably at your old address.

cockneyfella

The credit limit on the card was £200 pound, i think i went over something like £20 pound (than i want travelling years back & not spoke to them since,) - 85% of the debt is definitely interest - does that make a big difference or am i still entitled to pay all of this interest off?

sammy115

I think if you can get hold of statements and try to reclaim charges (and the interest on the charges) you should in theory end up with a much smaller debt.

cockneyfella

I've read on here that there is a certain templated letter which is sent, regarding the consumers act. Is that the sort of letter i need to send, just a bit confused as i've never had to do this before

sammy115

http://www.learnmoney.co.uk/credit-cards/remove_default_notice.html

Sorry wrong link before..Scroll down on this page to the template

liz105

How long has it been since you were last contacted about this debt?

cockneyfella

Hiya Liz,

I've been contacted recently from Lowell Financial in threatening letter form - there latest one was sent 08/05/07 saying that it is now with the pre-litigation department, saying they want to take me to court.

Last time i spoke to Captial One, has got to be around 2003.