Any Advice???

[Tiffla]

Hi, Peeps.

I got into trouble with my Barclaycard a few years back.

Basically, I just buried my head in the sand and hoped it would go away – it didn’t!

I’ve been chased by a company called FIRE (financial investigations and recoveries (Europe) ltd).

I received a letter last week saying I owe £1,260 ish, but their client (Cabot Financial) is prepared to accept a full and final settlement figure of £630 ish.

Pretty good deal I thought, and I am now in a position to pay it off once and for all.

But, does that mean I won’t be able to reclaim charges that Barclaycard hit me with?

Any help would be greatly appreciated.

[greebs]

I have a similar question with capital one so anyone who could advise it would be greatly appreciated

[TANZARELLI]

If you pay it off you can still reclaim the charges they have levied to your account. It is up to you to send a full Subject Access Request. I would also check that they have not entered a default against your credit file, if they have then I would seek to have this removed from my credit file with all the CRA's.

If you want some info on this see my Cr@p 1 thread as I am in the process of doing this, but you need to state this from the outset ie prelim stage.

Heres the link to my thread: http://www.consumeractiongroup.co.uk...e-default.html

HTH
Tanz

[jadebarton]

HI there,
my understanding is if the company has offered you a settlement that you must subtract the amount they have taken off from what you are claiming. isnt that right.
ie im about to make a claim against Capital one also and at one point after i had fines after fines that took me £800 over my original limit. They then refunded me that £800 supposedly to help me get back within my credit limit. Now when i get statements and add up charges £800 will have to be taken off the final claim total.

Jade

[TANZARELLI]

Originally Posted by jadebarton

HI there,
my understanding is if the company has offered you a settlement that you must subtract the amount they have taken off from what you are claiming. isnt that right.
ie im about to make a claim against Capital one also and at one point after i had fines after fines that took me £800 over my original limit. They then refunded me that £800 supposedly to help me get back within my credit limit. Now when i get statements and add up charges £800 will have to be taken off the final claim total.

Jade

Hi jade i think you missread the original post as it was mentioned that the DCA was willing to accept a F&F settlement they were not offering a settlement.

However yes if a bank refunds you anything then you need to either accept it as partial settlement or if before you file they refund then you need to ammend your claim accordingly.

Tanz

[Tiffla]

Thanks for the response.

Let me get this right though......

Barclaycard sold my debt to Cabot, and then they sold it to another DCA?

Or are they just acting on their behalf?

Is this just a case of who can be bothered to chase it?

[TANZARELLI]

Originally Posted by Tiffla

Thanks for the response.

Let me get this right though......

Barclaycard sold my debt to Cabot, and then they sold it to another DCA?

Or are they just acting on their behalf?

Is this just a case of who can be bothered to chase it?

These types of debts do sometimes get passed around, for example some like debitas are part of Capital One but then if they have no joy the may sell it on to someone like Lowell Portfolio who are blood s*ckers, who pass it down the chain to Lowell Financial who seem to be the ones doing the donkey work etc.

Strange world eh?

Tanz

[Glenn UK]

Whoa there guys

Some slight confusion could arise here methinks.

If you owe and they offer to accept a lesser amount thats their problem. They gain a benefit by getting the lump sum earlier rather than waiting for you to pay the sum over a number of years.

When you claim back your charges you do so in the full amount.

Strange but true, so far Barclaycard, abbey and MBNA have coughed up in this way for me.

Only MBNA raised the issue of the short settlement, i guess they weren't expecting me to laugh at them when i told them i was quite comfortable with my position in that respect and they could counter claim if they wished.

They paid out in full.

So in answer to the queries pay the debt and get the benifit, then claim back all your charges

JMHO

Glenn

[TANZARELLI]

Originally Posted by Glenn UK

Whoa there guys

Some slight confusion could arise here methinks.

If you owe and they offer to accept a lesser amount thats their problem. They gain a benefit by getting the lump sum earlier rather than waiting for you to pay the sum over a number of years.

When you claim back your charges you do so in the full amount.

Strange but true, so far Barclaycard, abbey and MBNA have coughed up in this way for me.

Only MBNA raised the issue of the short settlement, i guess they weren't expecting me to laugh at them when i told them i was quite comfortable with my position in that respect and they could counter claim if they wished.

They paid out in full.

So in answer to the queries pay the debt and get the benifit, then claim back all your charges

JMHO

Glenn

Thats another way of looking at it, I was thinkin ignore the debt but state account in dispute thus avoiding restarting statute barring clock, then claim charges (including those from DCA) back and deal with whats left.

Or is that the long way around?

What if you cant afford to pay the debt, but the DCA is still charging you? You claim from credit card company and then do you need to then also statr a seperate claim against the DCA?

Tanz

[Glenn UK]

Tanz

im not sure there are issues re the possibilty of being statute barred, that doesnt come across for the OP to me at least.

Also the OP did say they cold afford to settle the debt now at that rate.

I guess that if there are issues over the debt generally and the claimant cant afford to pay then i agree the route may be different as you suggest.

Maybe i misread the OP 1st post because i took it that in general they belive they owe the moeny and can pay the offer made.



HTH

Glenn