Arvato Financial Solutions Help - Final Settlement? What are my options?

Cherryx

Hi everyone,

Hoping someone can help me here or who has maybe had similar unfortunate run ins with cards and a poor income

Over a few years I've racked up a lot of debt on a Barclay card which is about £6,100. The monthly payments were too high and I've been working a 0 hour contract back home which I've now had to leave and have struggled to pay this since graduating and having had job roles fall through for me.

My problem is that I'm in the middle of moving cities due to a horrendous home life which has caused several quite severe mental health issues and on top of this I have other debts to other credit cards albeit smaller amounts. At this moment in time I am looking for jobs but obviously I cannot say how much I'll be earning at the moment.

I have a small amount of money I could give to the company and could give them maybe 10-20% of the overall amount as a final settlement. What I don't quite understand is how likely this amount will be accepted by someone who is technically unemployed and will they chase me for this money a few years down the line? I appreciate my credit file will be a mess but I cannot see any other way out as this money has supported me through internships which i'm hoping will land me a job.

Thanks in advance.

sourcrates

Hi,

Save your money.

Just write and tell them your unemployed, under FCA fair debt collection practice, it is considered detrimental to demand payment when the debtor is unemployed or not on a regular income.
If you haven’t got it, they cannot take it can they.

So what can they do if your unemployed and have little or no income ?

Answer is nothing, absolutely nothing at all.

Cherryx

Hi,
Thanks for your response! I was wondering if it was possible for anyone to send a bailiff to your home under these circumstances too? Currently I'm paying token payments of £1 to all my creditors and I am committed to fixing my debts but I'm not sure when this can be accomplished at the moment with the world the way it is. 

RAS

It may be better to stop paying the £1 and use your limited resources to support your move.

This is unsecured debt and the sooner it's defaulted the better. They can't send in the bailiffs.

Cherryx

Thank you @RAS I wasn't sure where I stood with it.

RAS

Follow sourcrates' advice and get your post redirected. If anyone actually sends you court paperwork (rather than a letter telling you they can legally take action), come back for help. At worst, you'll get to pay what you can afford monthly, at best that money and a job might allow you to do a full and final settlement.