Paying Credit Card Debt

[Billy0911]

Hi
We are dealing with Fredricksons for a debt with Mint
the debt is for £2350 i have pffered $1500 and they in return have said £1750

i want assurance's from Fredricksons that the debt will infact be paid in full and also that the debt will either be removed or shown as paid on any credit reference search

if they contact saying yes to all the above via e-mail is this good enough???? don't want to pay if it solves nothing

any advice would be great

Billy

[42man]

Firstly are there any excessive charges that have been added to the account either by Mint or Fredricksons ? If you have evidence in email then in my opinion it should be enough....it might even be worth requesting they remove all the adverse information they have listed about you with the Credit Reference Agencies too...If it was me I would stick with the £1,500 (or less) seeing as they bought the debt for around £240 !!!! It might even be worth requesting the Consumer Credit Agreement from them and when they aren't able to produce it offer them less !!

[Billy0911]

Originally Posted by 42man

Firstly are there any excessive charges that have been added to the account either by Mint or Fredricksons ? If you have evidence in email then in my opinion it should be enough....it might even be worth requesting they remove all the adverse information they have listed about you with the Credit Reference Agencies too...If it was me I would stick with the £1,500 (or less) seeing as they bought the debt for around £240 !!!! It might even be worth requesting the Consumer Credit Agreement from them and when they aren't able to produce it offer them less !!

Hi
please excuse my ignorance but are you saying that mint sold this debt to fredricksons for £240 surely not???

Billy

[forgottenone]

It's not gone unheard of for a DCA to pick up a 'bargain' debt for 50p. Welcome to the crazy world of consumer debt!

[Billy0911]

Hi
so if i come to a agreement with Fredricksons to pay say £1000 to clear this Debt
1) am i safe phoning them and giving them my card details? i mean they wont take more out than what they are supposed to
2) do they legally remove or show the debt has been paid to experian or do i have to request this

once again thanks for the info

billy

[havinastella]

Originally Posted by Billy0911

Hi
so if i come to a agreement with Fredricksons to pay say £1000 to clear this Debt
1) am i safe phoning them and giving them my card details?NO, NEVER EVER DO THIS i mean they wont take more out than what they are supposed to
2) do they legally remove or show the debt has been paid to experian or do i have to request this

once again thanks for the info

billy

Billy, If I sent you a letter asking you pay me £1750 would you pay it?

If the answer is HELL NO, I would be crazy, think about what you are doing.

Does this company have a legal right to collect the debt?

Have you asked for a copy of your Credit agreement?

Because IMO, If you do ask for your Agreement, I'm sure they would settle for a lot less!

Jogs

[slick132]

Hi Billy,

1) You would need their written agreement about the amount required to clear the debt "In full and final settlement". An email would suffice.

2) You should ask that, as part of the F&F Settl't, they agree to remove the Defaults against you in respect of this debt.

In any event, send them Letter N from here first - http://www.consumeractiongroup.co.uk...templates.html

If they cannot provide the necessary Agreement showing the "Prescribed Terms" as required, they cannot legally enforce the debt (ie take you to court for it). And they, or Mint, must also remove any Defaults from your credit records reagrding the debt.

This would make them far more amenable to negotiate as you'd hold all the cards (no pun intended !).

[Billy0911]

Hi
Thank you all very much for your prompt and great replies, so i guess it's not going to be solved quickly then
my main issue is i now live in Australia (but i still want this cleared up)

Now i can use my Sisters Address in Scotland so would this be ok to communicate via her address

Billy

[havinastella]

G,day

Imo, Send the request for the Agreement (they won't have it) then you can barter a F&F settlement figure (if you want to pay it)

I would get your sister to send your letters but make sure they correspond with you Via Australia. That'll hurt there mailing costs

Jogs

[dannyboy660]

F&F's should be done through a third party whenever possible so your sister in Scotland would be ideal, see National Debtline Scotland | Debt Advice | Factsheet 19 Full And Final Settlement Offers for Scotland. Keep all correspondence for at least six years. Bear in mind that if you use her address the CRA's will (probably) be notified and then anything nasty lurking will end up as a demanding letter on her doormat, possibly even 'phone calls telling her she's won a holiday, but "we need to know who lives in your house for insurances purposes" etc etc.......they are devious little turds.

Havinastella has suggested requesting the agreement which is the next logical step. They probably won't have it, and even if they do it will clearly state to being "regulated under the Consumer Credit Act 1974". Check out s141 of the act, and should you wish to make a settlement with a company that bought it for 5-10% of it's face value, remember you have the upper hand and everything is on your terms - not theirs. If they threaten you with court or start to harass you, pay nothing and make a formal complaint.

Just a suggestion.

[Billy0911]

Hi
and thanks to all

just had a e-mail from fredricksons saying they are putting this account on hold for fourty days

i replied stating you can put it on hold for as many days as you like, i aint paying anything till i see paperwork

gave them my address in oz to send the paperwork


Billy