Capital One changing agreement

sams247

Hi guys, a problem for you today. Well, a problem for me actually, but I need your help please. Basically I have a long standing agreement with Capital One to make a payment on my loan with them. I have kept up payments for nearly two years and have about £1500 to go. Suddenly with no warning I have a letter stating that my agreement is being cancelled and I have to return to full payments with interest. There is obviously no way I can make full payments, so this will force me back into a debt situation with them.

I feel that they are trying to force me down a route that leads to my account being offloaded to a debt collection agency. I think the timing is no coincidence.

So, is there anything I can do?

Thank you

averageguy11

bumpety bump

chez000

Under the banking code they have to treat people experiencing financial difficulties "sympathetically and positivley", and also they should work with you to develop a plan for dealing with your financial difficulites.

Think its sections 14.1 and 14.3 of the banking code.

You could write to them quoting the banking code and request they continue to accept the repayments.

AGB863

You may be correct in your assumption - this is most likely the request that you get before they issue a default notice and then sell the debt to another party.