Debt ownership....

chrisvaldez

I'm about to embark on reclaiming credit card charges, but all of my credit card debts are now controlled by collection agencies as I defaulted when I set up my debt repayment plan (university debts...)

However, I'm reading that a lot of banks will offset the credit card charges against the debt you owe them. But, as they've sold on the debt, isn't the debt owned by someone else? So my question is...

Will the banks actually contact the agency to offset the debt or will I be going through hoops to get the money offset?

Cheers!

annettetabs

Both my Aqua and Capital One credit card accounts are with debt collection agencies. I was awarded a refund of £50 in charges on both accounts and this was deducted from my outstanding balances without me doing anything. The credit card companies will adjust your balances accordingly.

hotblu

Hello,

I also have a question regarding this. I am in the process of asking for approximately £800.00 from Cap 1, they've offered just under £300- I was considering this, but the account has been closed and a partial settlement was paid via debt collection- Cap1 are saying they will offset against my account, but it's already part settled. Can I ask for full repayment on the basis it is part settled?

Any help will be really appreciated.

Regards

Hotblu