Frodo in Administration

annmaria2

gizmo111 wrote: »

Yes - your credit report will be a true account of what you ave paid and when.

Great thank you very much for your kind advice.

fermi

If it turns out not to be a true reflection, then you can complain and (hopefully) get it corrected.

DS4215

Until the future of Frodo is decided (liquidation/take over/come out of administration, etc) this is all speculation. The administrators will contact you as a creditor and inform you of any changes to your repayment schedule when they have something concrete.

annmaria2

DS4215 wrote: »

Until the future of Frodo is decided (liquidation/take over/come out of administration, etc) this is all speculation. The administrators will contact you as a creditor and inform you of any changes to your repayment schedule when they have something concrete.

Thanks for you advice. I did phone them and they said I will receive letter soon and I will have to repay my debt within 2 months

Halifax81

Somehow I think you have been give wrong information from them, I had the Overdraft facility from Frodo and all they want from me is 10% of the balance every month until its paid off or I had the chance to pay it in full there and then.

I only have around £250 ish with them though so a smaller amount than you

annmaria2

Halifax81 wrote: »

Somehow I think you have been give wrong information from them, I had the Overdraft facility from Frodo and all they want from me is 10% of the balance every month until its paid off or I had the chance to pay it in full there and then.

I only have around £250 ish with them though so a smaller amount than you

hi, yes you are right. Lady from Harrisons has given the wrong information to me. Called another company that is dealing with reclaiming money for Harrisons and they said despite the letter i have received today stating full payment within two months; they are happy to offer arrangement to pay min 10% of the outstanding balance. Phew!:T

muskoxherder

This is my first MSE post, but thought I'd chime in as I was looking for more info online when I received the scary letters in the post, and this was the only thread/article/etc I could find.

I signed up for one of these accounts after reading about it in the Guardian, thought it was a pretty decent deal for something as flexible as it was... Guess it was too good to be true.

Just off the phone with the collections agency, and they were actually pleasant to deal with. I suppose there's a first time for everything!

While the two month thing is in the t's and c's, they're apparently happy as long as they collect it within this (financial?) year. Apparently, the minimum they want is the 10% regular payment as soon as possible, and a plan to pay off the balance.

I arranged an installment plan over 8 months, and was assured it wouldn't be recorded as an "Arrangement to Pay" on my credit report, as long as the payments are actually made of course.

annmaria2

muskoxherder wrote: »

This is my first MSE post, but thought I'd chime in as I was looking for more info online when I received the scary letters in the post, and this was the only thread/article/etc I could find.

I signed up for one of these accounts after reading about it in the Guardian, thought it was a pretty decent deal for something as flexible as it was... Guess it was too good to be true.

Just off the phone with the collections agency, and they were actually pleasant to deal with. I suppose there's a first time for everything!

While the two month thing is in the t's and c's, they're apparently happy as long as they collect it within this (financial?) year. Apparently, the minimum they want is the 10% regular payment as soon as possible, and a plan to pay off the balance.

I arranged an installment plan over 8 months, and was assured it wouldn't be recorded as an "Arrangement to Pay" on my credit report, as long as the payments are actually made of course.

Glad you have arrangement to pay :T:j