PRA group Barclaycard debt

Lemonbelly

Hello, i hope i am posting in the right place. I have a barclaycard debt that was sold to the PRA group. I requested the proof of contract as recommended. I have recieved from PRA a barclaycard letter that says it is a reconstituted copy of my credit agreement and a set of terms and conditions. The agreement is all unsigned and doesnt have any of my details in it.
The covering letter from PRA asks me to contact them within ten days to discuss my account to come to a mutually acceptable agreement to settle my outstanding balance.
I am not in a position to clear the account so I respectfully seek advice on this forum. thank you.

Lemonbelly

sorry, my mistake my name and address details are printed on the credit agreement details, but nothing is signed as i presume because it is a reconstituted copy, from 2008. Do i contact PRA as requested?

National_Debtline

Hi Lemonbelly


It sounds as though what PRA have sent you may suffice for the requirements of the Consumer Credit (Cancellation Notices and Copies of Documents) Regulations 1983. Under Regulation 3(2), the copy can omit signature boxes, signatures and the date of signatures. It must, however, contain all the information that was included in the original executed (signed) agreement, i.e. details of the borrower, the prescribed terms, and all the financial and other information required by the Regulations.


That all said, you should seek further advice on how to proceed before making any further contact with PRA. Their deadline is likely to be arbitrary and a way of getting a response from you more than anything. How long is it since you last had any dealings with this card?


Dennis
@natdebtline

Lemonbelly

Hi Dennis,
I have been paying a regular amount off the card up until december, when i was informed the debt had been bought by PRA. from what i understand is that i can continue making the same payments under the same terms to PRA that i was to Bcard. Or from what i have read here i may be able to negotiate a full and final payment, which i would be happy to do for the right amount. I would like any advice on this, should i contact PRA or wait for them to contact me.

fatbelly

That's good advice above. You don't need to phone them.

A couple more questions

Is this your only debt? What is the total of your debts, roughly?

Lemonbelly

embarassingly its not my only debt, I have a total debt now of about £19,000. (i have managed to bring it down from £50,000 which it was 3 years ago), this particular debt is just over £4000

National_Debtline

Do you (or a third party like family/friends) have the means to raise any sort of lump sum for the purposes of trying to negotiate a full & final settlement across your debts? It can become more an more of an option as time passes and debts change hands.


Do please ensure you also seek advice on your options - and their various pros and cons - from one of the free debt charities, as it can be difficult to establish enough context in the confines of a forum like this one. In the meantime, a shameless plug for our guide to settlement offers:


https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx


Dennis
@natdebtline

Lemonbelly

Hi Dennis,
I can raise some money to do a settlement but not sure how to go about it without shooting myself in the foot.

fatbelly

I think you need to chat to someone reliable (National Debtline may fit the bill) about your whole situation.

It could be that a Debt Relief Order will suit you if the following apply:

•Must not be a homeowner,

• Debts less than £20,000,

• Can have a car worth up to £1000,

• No other assets of more than £1000,

• Must have £50 or less left at month end, after all essential payments have been made (not inc debt repayments),

• Cannot have had a DRO in last 6 years.

Lemonbelly

I am a homeowner but can probably get away with the other criteria. I have managed to negotiate with all the other creditors to freeze all the interest and make monthly payments, which isnt a problem, its just this pra debt i would like to sort out

fatbelly

Lemonbelly wrote: »

I am a homeowner but can probably get away with the other criteria. I have managed to negotiate with all the other creditors to freeze all the interest and make monthly payments, which isnt a problem, its just this pra debt i would like to sort out

DRO's out of the question then. It is difficult when you are a homeowner with big debts and little surplus income.

If you just want to kill off this one debt, Dennis's suggestion is good