Paying off defaulted credit card

skintnurse

Hi, 

I’m hoping I’m in the right place to ask for a little advice 

I had defaulted on a credit card balance in 2015 when I was ill. The account has since been sold on to Moorcroft from the Halifax Bank. 

I was trying to work overtime to pay off my debt as new mortgage broker advised to clear up my poor credit before applying for mortgage.

This morning I received  the letter below   I am now totally confused about what to do next. 

I already have a default so wasn’t in a hurry to clear the balance. 

Does this letter mean they have no credit agreement and as the debt isn’t enforceable? 

Should I can continue to pay agreed amount? 

Or
should I stop paying ? 

Or should I offer a full and final settlement starting at 10% for example £220.

Any advice would be greatly received  

[Deleted User]

It means that have asked for the agreement to send it to you.

You could stop paying in the meantime while they find it if you wish.

skintnurse

Ok great thanks, I was just confused over the bit “we are not seeking to enforce an agreement “
I will wait for the credit agreement then. 

If they don’t have an agreement, what happens then? Do you think they would accept a partial settlement? 

Willing2Learn

skintnurse said:

This morning I received  the letter below   I am now totally confused about what to do next. 

I already have a default so wasn’t in a hurry to clear the balance. 

Does this letter mean they have no credit agreement and as the debt isn’t enforceable? 

Should I can continue to pay agreed amount? 

Or
should I stop paying ? 

Or should I offer a full and final settlement starting at 10% for example £220.

The letter means that your creditor is unable to provide you with a 'true copy' of your original credit agreement.  This means your account is unenforceable via the courts, although you are still liable for the full amount due.

You have a choice.  Either withhold any further monthly payments indefinitely, until they can provide you with compliant paperwork, or make a written low offer (using the National Debtline template), and start the negotiation process to find a settlement figure that is acceptable to both parties.


If it were me, I would be suspending monthly payments indefinitely.

redux

That's only an acknowledgement of your request, and that it's been forwarded, not an admission that it's already known it can't be found. I'd suggest pay the next payment as normal, then see how quick they are to produce something.