Help with GE Capital debt t/f to Eversheds

sarah88_2

Hi, Im new to this forum and looking for some advice. I have a GE Capital Bank storecard and owe £ 5000 on the card. I have fallen behind with my payments and the debt has been transferred to a co. called Eversheds who have sent me a letter to contact them regarding repayment. They have stated in the letter that if I do not contact them urgently they will start legal action. I can only afford to pay £ 50.00 a month but I am scared to contact them if they refuse my offer and go ahead with court action. Does anyone know what instalment amounts they would accept to clear a £ 5000 debt? And will I have to send them details of all my income and expenditure? Also if they accept any installment will they still enforce this through court?

Any advice would be greatly appreciated

Sarah

Bossyboots

Eversheds are solicitors so I would presume that they have been asked to recover the debt. How they handle this will depend on their instructions from GE Capital. Not contacting them is a guarantee that they will start proceedings. It may be that they have been instructed not to negotiate, that you have to pay it all or proceedings will be issued anyway. Realistically a court is only going to order you to pay what you can afford and if they issue proceedings you will need to file details of your income and expenditure.

Get in touch with them, but don't be surprised if they refuse to take it by instalments. This is contradictory because they know that the court will order instalments anyway but they will then a CCJ against you. Ring them on Monday and see what they say and post back here then to let us know.

mountainofdebt

are a firm of solicitors who no doubt would be doing the legal side of taking you to court if things progressed that far.

Look (and I don't mean to be blunt) but surely you are in a better position to keep the channels of communication open between you and GE Capital (via Eversheds) than to stick your head in the sand and hope it all goes away.

I don't know how eversheds will react but (and I'm guessing here) that if you send them details of your expenditure and income and prove that you can only afford £50 per monththen they would be foolish to try and take you to court to force you to pay more....blood and stone springs to mind. I would also imagine that if they did take you to court and you showed the court copies of letters/proof that you could only afford £50 then eversheds would look pretty silly and the court would accept that you could only pay £50 per month.

Keep copies of all communication for future reference

I would also ask them to suspend interest accumulating on the debt. A small thing I know but every little helps!

Also post your budget on here.....you never know someone might be able to shave some £££'s off so that you can increase the payments.

Don't think I'm being hard on you....its just I don't want to see someone get into a deeper mess just through burying their head in the sand.

Iona_Penny

Exactly this scenario led to Eversheds getting a CCJ issued against me for non-payment of a storecard. I had just ignored any post and not even opened most of it.

When my OH found out it was dreadful and a huge relief. He phoned Eversheds who were OK, froze the interest and did agree to a reduced settlement offer ( a dear friend lent us the money to pay it off, which we have since repaid, and are still friends!)

Trust me it won't go away and if you can sort this without having a CCJ against you then do. You honestly may feel better when you know exactly what the situation is regarding payment. Good luck

Bossyboots

Iona_Penny wrote:

Exactly this scenario led to Eversheds getting a CCJ issued against me for non-payment of a storecard. I had just ignored any post and not even opened most of it.

When my OH found out it was dreadful and a huge relief. He phoned Eversheds who were OK, froze the interest and did agree to a reduced settlement offer ( a dear friend lent us the money to pay it off, which we have since repaid, and are still friends!)

Trust me it won't go away and if you can sort this without having a CCJ against you then do. You honestly may feel better when you know exactly what the situation is regarding payment. Good luck

I hope the OP can take some comfort from this post as it does at least indicate that Eversheds appear to have been given a wide briefing in how to settle claims, rather than simply being instructed to obtain 100% by payment or CCJ. I hope it will give her the confidence to telephone them and try to sort it out before its too late.