Going to go for it....but need advice.

Angry_Gazza

Right, going to go for my Beneficial cc charges back.

Reason why this is'nt a straight forward claim is that i had a £5,000 limit. Lost my job and it got up to £7,900. I have now got it down to £2,900.

Thing is, i have this arrangement with them (not in writing i'm afraid) that if i pay £100 p/m, they are not adding interest to the debt. This was a helpful gesture by them and in a way i don't want to "rock the boat" if you like, BUT, it was THEIR INITIAL CHARGES that got the debt so high in the first place.

My only concern is, that if the charges are say £1,500, that they will then pay up and DEMAND the rest PAID straight away, and i would'nt have that sort of cash....

Any thoughts of what i the likely outcome will be?
Anyone been through a similar situation?

GAZ.

Angry_Gazza

Sorry,

Also meant to ask. Should i send the intial letter asking for my list of charges to either:

Beneficial,
PO BOX 3615,
Birmingham,
B3 2RJ

or as that is a trading name of HFC,

HFC Bank limited,
120 Edmund Street,
Birmingham,
B3 2Q2.

MANY THANKS.

GAZ.

Elsie2_2

They can't just DEMAND you repay such a large sum if you can prove that you cannot afford it and the very fact that you are on an arrangement suggests that you cannot get this sort of cash.
Worst case scenario, if they threatened to or did indeed did take you to court, you can prove that you were in financial difficulty and have made every effort to make payments month on month and this would be sufficient that they wouldn't win the case to get te full balance from you.
Go for it anyway, I did and most of my debts were with debt management companies on arrangements.
I would send the letter to HFC as this is the parent company i think.

It may also be worth mentioning that if you are eventually successful with your claim and they offer payment, don't allow them to force you to have the funds paid off the debt unless you want it to go towards this. A letter may be necessary to advise that you want the payment made direct to you in the form of a cheque etc and not into any third party (ie the debt management co) or to set off the debt. If you want to use the money to pay off some or all of the debt, this is your decision, not there's.

Hope this helps.

Angry_Gazza

Cheers,


Thanks for your help Elsie. I am going to do it, because i feel that the charges could be a fair lump due to the situation i was in.
I know it can be tricky to judge or estimate, but i think it will be in the region of £1,000.

The way i see it, if i go through the process, it will take 3-5 months, and that will be another £3-500 off the balance anyway, so if it's down to £2,500 and i can claim a big chunk back, i would be well on the way to clearing the debt once and for all.

Let you know how it goes, post here.

GAZ.

Once again, ta.