Virgin Money card asking for earning and expenditure details.

Lemonbelly

jjames1985 said:

cymruchris said:

Lemonbelly said:

cymruchris I unsderstand what you are saying.They have been reasonable and fair. Im concerned if i was to give them details they might conclude i should pay more (or less) than what i am. And to be honest i believe i know better than them what i can or cant afford, and as im paying what was agreed 4 years ago without fail and more than happy to carry on. With less than a year to go until its finished i dont want to do it.

Has anything materially changed in your life? If you're in roughly the same place as when you had the plan put in place, and your income/outgoings have a similar structure - they aren't going to try and put the payment up. What you really don't want is another default. Yes you had one a couple of years ago on your original debt - but that will disappear in 4 years. If you have another one - that's going to last 6 more years. I'm not an expert - and someone else might be able to clarify - as to whether defaulting on an agreed payment plan results in a new default, because if it does - I certainly wouldn't want another one. 

a debt can't default twice.  there isn't really much incentive for the OP to play ball with them really.  they won't add interest to it as it has defaulted and they can't re-default it.  they can sell it to a DCA who can really only do what they're doing, although they'll probably pester the OP a lot more.

thanks  jjames, thats what i thought. to be honest im not afraid about DCA as i had a barclaycard one sold to PRA and they couldnt supply the paperwork and was deemed unenforceable. never had any hassle either.

Carrot007

jjames1985 said:

a debt can't default twice.

Indeed but it can go on to a CCJ.

cymruchris

Carrot007 said:

jjames1985 said:

a debt can't default twice.

Indeed but it can go on to a CCJ.

You certainly don’t want one of those. Why would they need to know other people’s income? The credit card isn’t a joint financial product - surely providing them with just your income would be sufficient? And at this present time that’s close to zero? I can’t see them upping the payments based on your current situation. 

Lemonbelly

Carrot007 said:

jjames1985 said:

a debt can't default twice.

Indeed but it can go on to a CCJ.

wouldnt it have to go to court first, and then they would have to prove it etc?

jjames1985

Carrot007 said:

jjames1985 said:

a debt can't default twice.

Indeed but it can go on to a CCJ.

the OP claims there is around a year left to pay and it's not like they're paying peanuts, there's no incentive for Viring to go for a CCJ for a debt that has so little time left to run when the OP is making payments.  OP can also afford to pay it off right now, so even if Virgin tried to go for a CCJ (I can confidently say they won't) then the OP can just pay it off.  a DCA isn't going to go for a CCJ for a debt that they've paid peanuts for that will be fully paid off in a year either.

MinuteNoodles

Lemonbelly said:

wouldnt it have to go to court first, and then they would have to prove it etc?

Yes it would have to go to court but they've got the years of you paying it to prove it.

Your choices are simple. You either complete the forms they want or accept the ramifications that come from that which may include calling in the debt and ending the arrangement.

goldieandblackie

Pay it off it is after all your debt and I think that they have been more than generous giving 4 years to pay it off rather that giving you a CCJ and putting your credit line in the trash can for up to 6 years.

Lemonbelly

goldieandblackie said:

Pay it off it is after all your debt and I think that they have been more than generous giving 4 years to pay it off rather that giving you a CCJ and putting your credit line in the trash can for up to 6 years.

the issue isnt about paying it off or not, they havnt asked me to, more than the agreement. the issue is about filling in a very intrusive income and expenditure form asking for peoples details that have nothing to do with the deal.

yellowsun20

Hi all 
my 0% interest credit card will expire in mid July. I do not currently have a job so no income but do have savings to pay it off however reluctant to do this, isn’t there an alternative solution? 
Thanks

DiamondLil

yellowsun20 said:

Hi all 
my 0% interest credit card will expire in mid July. I do not currently have a job so no income but do have savings to pay it off however reluctant to do this, isn’t there an alternative solution? 
Thanks

You need to start your own thread - no-one will see your question at the end of this thread.