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Cougar financial services

Hi I wonder if any one can help
I have debt with capital one that I was in the process of setting up repayment plan but before I could send off paper work I received a letter from cougar financial services stating that they had been instructed to collect the debt they then called me I offered them what I was planning to offer capital one which is £15 per month until I am able to afford more I wish I could afford more but I can't
I was informed by the agent on the phone they couldn't accept that offer as capital one had set up a minimum requirement of £50 I told this woman I couldn't afford this she then said ok what will happen is you can pay 15 pound a month but yup won't be in a payment plan and capital one could take legal action against me I then got upset and said ok I will talk to capital one she then said they will tell you to talk to us and I said I am talking to you and your not helping I offered to go through my incomings and out goings so they could have that on file I then got told to send these to capital one as they could help totally confused and don't know what to do I have other debts and have never had this issue with debt management companies
Can they take me to court when I have offered to pay they say it's not a reasonable offer

HELP

Comments

  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Remind them that under the new FCA rules:
    A firm must treat customers in default or in arrears difficulties with forbearance and due consideration.

    An example of where a firm is likely to contravene Principle 6 and CONC 7.3.4 R is where the firm does not allow for alternative, affordable payment amounts to repay the debt due in full, where the customer is in default or arrears difficulties and the customer makes a reasonable proposal for repaying the debt or a debt counsellor or another person acting on the customer's behalf makes such a proposal.
    and
    A firm must not pressurise a customer:

    (1) to pay a debt in one single or very few repayments or in unreasonably large amounts, when to do so would have an adverse impact on the customer's financial circumstances;

    (2) to pay a debt within an unreasonably short period of time; or

    (3) to raise funds to repay the debt by selling their property, borrowing money or increasing existing borrowing.
    and
    A firm must not threaten to commence court action, including an application for a charging order or (in Scotland) an inhibition or an order for sale, in order to pressurise a customer in default or arrears difficulties to pay more than they can reasonably afford.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • sourcrates
    sourcrates Posts: 30,615 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Never, ever, ever speak to these people on the phone, as this is often the result, don't answer there calls, or if you have to, just say you will only deal with this matter in writing, then hang up, block there number if you can, I assume they have only been assigned the debt, in which case you can ignore these clowns completely, make your offer of payment to capital one instead, insisting its as much as you can afford, if you want to back it up with your income/expenditure, that's up to you, but you are not obliged to share that info with any 3rd party, they will not accept it at first, but you must be persistant, even if you have to write 3 or 4 times, stick to your guns, they will accept it in the end, you have to remember its all a game, and you have to play it !!!
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • I am having similar issues with company. I completed the form they sent me asking for my financial details of incomings and outgoings and made my offer of £25 per month also requested DD forms to make payments. I received a call saying my offer has not been accepted and therefore cannot be set up on DD and that I can make my payments to reduce the amount but do need to pay £44 per month. I was asked when I would make my payment which I stated was included on the form I sent back to which the woman I was speaking to stated she only had an email from C1 and not the form.
    Who exactly do I make the payments to and can they take any further action if I pay the monthly amount I have offered and stated I can only afford?
  • sourcrates
    sourcrates Posts: 30,615 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    catsmama wrote: »
    I am having similar issues with company. I completed the form they sent me asking for my financial details of incomings and outgoings and made my offer of £25 per month also requested DD forms to make payments. I received a call saying my offer has not been accepted and therefore cannot be set up on DD and that I can make my payments to reduce the amount but do need to pay £44 per month. I was asked when I would make my payment which I stated was included on the form I sent back to which the woman I was speaking to stated she only had an email from C1 and not the form.
    Who exactly do I make the payments to and can they take any further action if I pay the monthly amount I have offered and stated I can only afford?


    Above advice applies to all, never speak on the phone to them, do it all in writing, pay what you can afford, not what they are asking for, pay whoever is writing to you.
    DCA `s have no more power than you or I have !!!
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Complain, in writing, about trying to make you pay more than you can afford.

    Reiterate your offered amount.

    Pay by standing order, not DD. Safer. If you don't have the account details to pay, add that to your complaint, I.e they won't accept payment.
    :beer:
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Just to add to that, tell them that you have offered the maximum you can afford without it having a negative impact on your finances, so their attempt to pressurise you into paying more is in breach of FCA rule CONC 7.3.10 and you will be reporting them to the FCA.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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