credit card debt sell off ,can i retain credit if paid?

nanofiend

Hi , following a period of unemployment due to an unforeseen redundancy I have been unable to pay off my credit card balance for around 8 months .

I contacted my providedr Barclaycard and sent a financial statement to them and offered £1 a month while I was experiencing financial difficulties which was accepted and they agreed they would freeze charges temporarily until I got back on my feet etc.

I have just started full time employment and wanted to make a payment plan with them of £100 a month so I could pay off my balance and have credit available should i need it for emergencies etc. When I contacted them I was given a number for caboot financial and told they now own my debt as Barclays have sold it, this has since been confirmed in writing.

My question is if i pay the balance in part or even in full is there any way I could return to my original credit card agreement as if i was paying Barclays direct.(could I have credit available if I pay off the balance)

I can still log into my Barclaycard account which directs me to the debt team so I assume the credit agreement has not been cancelled?
I would not be so eager to pay the debt off quickly if I had no incentive to do so as i have other debts which are of equal importance and so would rather pay in monthly affordable instalments rather than prioritise this debt over others.
any advice would be helpfull.

:doh:

IainHL

Personally if it truly has been sold to Cabot after such a short time in a payment arrangement I would be looking to offer a F&F to Cabot of something a little over what they probably paid for it.

There is absolutely no point in you making any payments directly to Barclaycard if it has now been sold. In fact if you did they should return them to you (though I wouldn't put it past them to send them on to Cabot).

Unfortunately if it has been sold you will have lost the use of this facility forever.

You say the sale has been confirmed in writing, was this a formal Notice of Assignment from Barclaycard? I ask since you say you can still login to your Barclaycard account.

nanofiend

very helpfull a good topic!

Thanks for the informative response it is much appreciated. I have received nothing from Barclaycard in writing however I do have a letter from Cabot with the full details stating they have purchased and it seems legitimate also when i call the automated Barclaycard line I am given Cabots number so im certain they have purchased the debt. how can I find out how much cabot paid for it in order to offer a f&f settlement? as This could be an option in order to take the first steps in getting my credit rating back on track. Im very dissapointed I could not pay off the balance and retain my credit :./

_Andy_

Why the poll?

IainHL

I would suggest that you should write to Barclaycard to get them to confirm that the debt has been sold to Cabot (and asking if so why it is that you have not been sent a Notice of Assignment by Barclaycard).

I'm still not convinced it has been sold, I think Barclaycard have just appointed Cabot as agents to collect the debt on their behalf.

As for finding out how much Cabot paid if the debt has been sold to them, well you won't be able to. However some guesses could be made. It would surprise me if Barclaycard had sold it after only 8 months of a payment arrangement.

bigadaj

meh

_Andy_ wrote: »

Why the poll?

You can't knock a poll, I voted!