If I default CC will they contact my employer?

FroggyDog222

This is my first post for a long time (I used to belong to this forum about 10 years ago but forgot my details!)

I am a few years away from retirement but I'm struggling to pay off a particular debt. My health isn't the best right now and I also need to help my siblings out with my elderly parents. So retirement can't come soon enough! I will have a state pension in 3 years and a small private pension. 

However, I have a looming credit card debt of £7,500 and right now the interest payments and the payment they expect each month is around a quarter of my wage. At this rate, it will never be paid off. The debt is a credit card debt (originally Amazon, now Pulse). I do 'own up' to the debt and I'm happy to pay, but the interest payments are really difficult to cope with. 

I have read in this forum about people defaulting payments in order that the debt is moved to debt collectors and that maybe the interest payments will be cancelled? Have I got that right? I would never have intentionally defaulted a payment - the thought of them chasing me for the money makes me feel sick. On the other hand, I can't cope with these payments. 

My main issue is if I stop paying them and try to default, I worry that Pulse (or whoever they ask to chase me) will contact my place of work by phoning or they will try and contact me through social media (my job involves having an open public profile on LinkedIn). They have my company name from when I signed up for the credit card. Is it possible they could do that?

This is completely my fault and I feel stupid for getting into so much debt. But could do with some advice please. 

born_again

Highly unlikely that they would contact employer.
Although depending on the area you work in. Employer might pick up on it. As some area's do take employee's with debts, a greater risk. Such as Banking.

DullGreyGuy

Assuming it's a personal card and not a company card then they won't contact your employers as your debt has nothing to do with them directly. 

They will mark your credit file as missed payments then a default and some employers do monitor credit files, particularly if you are potentially exposed to the risk of bribery or in a regulated industry. Your employers reaction would be made independently. 

The only time they would get linked up at all would be after litigation and if they then applied and got an Attachment of Earnings Order in which case your employer would be required to pay part of your net salary to the court to pass on to the bank.

FroggyDog222

born_again said:

Highly unlikely that they would contact employer.
Although depending on the area you work in. Employer might pick up on it. As some area's do take employee's with debts, a greater risk. Such as Banking.

Thank you for replying so quickly. This is weighing on my mind. I have worked where I am now for quite a long time and my job isn't dependent on me handling money or anything so I doubt my employer would go looking. 

FroggyDog222

DullGreyGuy said:

Assuming it's a personal card and not a company card then they won't contact your employers as your debt has nothing to do with them directly. 

They will mark your credit file as missed payments then a default and some employers do monitor credit files, particularly if you are potentially exposed to the risk of bribery or in a regulated industry. Your employers reaction would be made independently. 

The only time they would get linked up at all would be after litigation and if they then applied and got an Attachment of Earnings Order in which case your employer would be required to pay part of your net salary to the court to pass on to the bank.

Thank you!

Yes, this is a personal debt. I don't work in anything sensitive like that. 

I think I was more worried that they might try and phone my company just looking for me if I avoid contact to default  - or should I speak with them, rather than ignore them?

This is all new territory!

sourcrates

It will depend what phone numbers you have registered on your account.

If your employers number is listed, once your debt go`s to collections, they will attempt to contact you through it.

The same applies when your debt is sold or assigned to a debt collector, if the number is on your account, it will be called, so before you stop payments to them, remove all your phone numbers from your account.

You can also write to them quoting the GDPR rules about contact, and tell them to contact you in writing only.

Best to do the groundwork before the foundations are laid.

FroggyDog222

sourcrates said:

It will depend what phone numbers you have registered on your account.

If your employers number is listed, once your debt go`s to collections, they will attempt to contact you through it.

The same applies when your debt is sold or assigned to a debt collector, if the number is on your account, it will be called, so before you stop payments to them, remove all your phone numbers from your account.

You can also write to them quoting the GDPR rules about contact, and tell them to contact you in writing only.

Best to do the groundwork before the foundations are laid.

Thank you! I'll do that now. That is really useful information. I think they may have my work number.

RAS

Do sort out what contact details they have for you