Debt assistance arrowglobal

Mpp1916

Hi guys

Looking for some advice.

So I had a CC with Vanquish and the account defaulted due to circumstances, I tried to sort this with vanquish but just kept adding money to the account.

I ended up ignoring it, and then moved out of the address.

It's now been 4 years with no contact until recently I had letters from Moorcroft originally, I'd rang them up to ask for the proof of debt and I would rather deal with the it directly..so they raised it as a complaint with now I know.. Arrow global.

Then I had an email from Arrow global as they've had the contact from moorcroft.. they've given the account number and a load of legal jargon I'm not sure of but I'm aware I owe the money..

Resolve call have now been involved and been to the house etc which I've ignored them.

Question being really is do I contact Arrow directly now and see if I could get a part settlement the debt is 3K.. I'm debating to sell my car just to get it off my back to be honest as I don't want it to effect me anymore than it has.. Arrow have already put a default on my account backdating to some time in 2020.

I'm not very good at this atall but thought id see what my options were

Thanks

Mpp1916

Sorry I put this on the wrong forum 

fatbelly

Did you want it moved to debt-free wannabe?

Someone will do that.

I note  'they've given the account number and a load of legal jargon I'm not sure of' That's not acceptable. They need to communicate in language you can understand.

Before you consider options you need to understand what they are saying about this old account that they have bought for peanuts

What are they saying?

Mpp1916

They've basically said to outline the "complaint" which came from Moorcrof via a phonecall, I'd said about putting the default on my account and that I'd not been contacted by them.

They've replied with copy of  letters they've sent to a previous address along with saying they also used NCO to retrieve the debt again wrong address so wasn't aware. (This was received via email) 

There last statement on the matter was They've tried contact etc and they don't feel they've been unfair.. again I've not spoke to them this is a response as I contacted Moorcroft

Then I had a letter through the post stating They've emailed and now being passed to Resolve call and that is there final response on the matter.

fatbelly

I wouldn't give this much priority. They have bought it for around 10% of the balance figure and obviously want to cash in on it, but you shouldn't feel forced to sell an asset to pay them.

Were you thinking of selling your car anyway?

If you saved a bit each month, how long before you would have say £600?

That's about the figure I would offer them - in full & final settlement.

Another option is to make monthly payments but that would be against the full balance so say £100 a month for 30 months. It's more cost effective to do F&F

If you want to slow things down you can make a formal request for a copy of your original agreement. Until they produce it, the debt is unenforceable

https://nationaldebtline.org/sample-letters/information-about-your-agreement-under-consumer-credit-act/

Mpp1916

I think the letter was around January and then resolve call have been on it for a few months, so hence I was worried on their next step?

I was thinking of selling but for another vehicle, but maybe cheaper to pay this off.. but as far as the £600 goes I could probably sort that over the next month ish

Is there a letter template to suggest a F&F? 

Thanks for advice so far it's appreciated 

fatbelly

https://nationaldebtline.org/sample-letters/full-and-final-settlement-offer/

Give it a few months - let resolvecall return it to where it came from.

And do check there is a cca on it first