Beneficial Bank lost my original credit card agreement

Lowerbreakeven

I took out a credit card in 1995 and asked the Bank to send me a copy of the original agreement. They have confirmed they don't have a copy.
The balance is around £4500. Is the full balance payable in these circumstances as I wish to get pay it off and don't know what the correct settlement figure is?
Thank you from a newbie:beer:

grumbler

Lowerbreakeven wrote: »

I took out a credit card in 1995 and asked the Bank to send me a copy of the original agreement. They have confirmed they don't have a copy.

I am no expert, but I don't see why the copy is needed. Are there any points that need clarifying? As you have been using the CC and receiving the statements I don't think that you are trying to say that the agreement never existed.

The balance is around £4500. Is the full balance payable in these circumstances as I wish to get pay it off and don't know what the correct settlement figure is?

You have to pay the full amount and the agreement definitely doesn't set and cannot set any settlement figures. In fact it's the bank that may offer you this figure after you breach the agreement by not paying, but they don't have any obligations to do this.

McKneff

the full balance is certainly repayable. You don't get settlement figures just because you want to pay it off.

Of course you could stop paying it for 6 months, get a default, then ask for a settlement figure but your credit file will be trashed for 6 years.

Or just pay it and move on.

YorkshireBoy

Lowerbreakeven wrote: »

don't know what the correct settlement figure is?

Nor do Beneficial at this time.

You need to pay off the current statement total, and then pay the residual interest charged on the next statement.

_Andy_

Why do you feel the settlement figure should be different from the balance?
And why would the credit agreement change anything?
if you want to pay it off, clear the balance. Hardly rocket science.

[Deleted User]

Lowerbreakeven wrote: »

The balance is around £4500.

The correct settlement figure is 'around' £4500.

But I'm guessing that your real question is - "If my bank no longer has a copy of my original credit agreement (from 18 years ago), can I somehow weasel out of having to pay back the money I owe?"

That about right?