Help with Thames Credit and interest charges

closing_2

A few years ago I had a credit card with barclay card. Due to various reasons and illness the card was passed onto a debt collection agency called Thames Credit

Since early 2004 I have been making monthly payments of £25 and then upped it to £30 in 2005, on time as agreed with them and in the years I have missed 4 payments, due to work not paying me on time and therefore the standing order not going through.

Last week I got a phone call from Active Capital saying that the balance owed was a whopping 5331.06 because of a missed payment.

After talking to Thames on the phone. Seems the inital debt in 2004 was
4124.11

Apparently a DD bounced in 2004 and so interest was applied now making the debt
6600.11

Payments were going through and now the balance stands at
5331.06

meaning that I have paid off 1280 approx since 2004 (not a great deal I know but I'm struggling to rite my wrongs here)

The balance before this last missed payment was down to 2844.11 and the interest that has been re applied has taken it back up to the 5331.06 figure...

Now I had a phone call from Active Capital saying that there is no way the interest can be nocked off and that the figure of 5331.06 still stands. Needless to say that I am gutted.

Just out of interest I asked for a settlement figure and If I can find £2946 at the end of the week then its all sorted (oddly enough equaling the balance back in 2k4)

Is there anything that I can do to get back to the inital figure of 4124.11 minus my payments?

itsnever2lateisit?

Sorry I do not understand how missing one payment of £30 adds thousands in interest

What was the deal with Thames? Interest frozen unless you miss a payment, then its ALL added back on?

Also when did you default with Barclaycard, and when did you start paying Thames?

closing_2

well according to Active Capital, if a payment is missed then all interest on the account will be added, from the date of the initial debt being passed over.

Was funny when I asked him for a copy of the terms and conditions via post and I got told to go and get a credit card application form and read the terms and conditions on there.

malestrom07

Active K are a bunch of [EMAIL="B@stards"]B@stards[/EMAIL]. Take all the advice you can get and trust me their paperwork will be shoddy, very shoddy....