Any thoughts advice please. I am trying to keep "one step ahead"!

I have been making regular monthly payments to a number of creditors since June 2007.

The anounts were worked out with the help of a "debt assistance" organisation.

I have not missed any payments, and I get the "usual" (as others have on this excellent site) ocassional letters

and chasing up which I have been able to deal with OK.

On checking a free credit report today,

I note that a debit card company has just last month recorded a default on my file, whereas previously late payments were indicated.

I have never recieved any default from them.

I have received letters from a DCA, but no mention of default.

The last correspondence, dated after the default entry, was a settlement offer, which I cannot afford.

Should I be concerned?

Do you think they will now ratchet up correspondence and chasing?

Any thoughts and advice would be welcome.

Thanks

t

Since Early 2007 I have been paying monthly amounts on a charge card, following a debt arrangement plan.

The charge card company passed details some while ago (around 3 years) to a DCA who have periodically contacted me,

and ocassionaly offered reduced amount to clear debt, which I cannot afford.

During this time CRA's have been regularly reporting a "delayed payment" for this account on my file.

I note that this has now changed to a default, but I have not received any communication in respect of this from either the OC or the DCA.

As the title says,

anyone have any ideas/opinions as to what might happen now?

Apart from extending my "bad credit" file,

are there other implications and should I be doing anything to mitigate/pre-empt any actions that the DCA and OC might take?

I still cannot afford to pay them off, nor increase monthly payments.

Thanks

t

Hi-just out of curiosity whi is the original creditor and who is the DCA ?

Reason I am asking is that it will assist in answering your questions to know this.

Also you mention a debt arrangement plan-is this something you arranged or is it through a third party provider?

Hi-just out of curiosity whi is the original creditor and who is the DCA ?

Reason I am asking is that it will assist in answering your questions to know this.

Amex and AIC

Thx

t

Also you mention a debt arrangement plan-is this something you arranged or is it through a third party provider?

Through CAB. Payments have not been "officially" acknowledged by either party, and I do not recieve up to date statements.

t

After 3 years its likely that the account has been assigned to AIC.

Have you ever asked for a statement of account to show the balance/payments made/fees and interest added ?

Under the OFT debt collection guidance you are entitled to this without charge.

On your credit file does it say when the default was registered-and who by ?

Also what is the balance outstanding ?

I think it would be a good idea to be asking for statements that cover the periods of your repayments so you can see whats what.

After 3 years its likely that the account has been assigned to AIC.

Have you ever asked for a statement of account to show the balance/payments made/fees and interest added ?

Under the OFT debt collection guidance you are entitled to this without charge.

On your credit file does it say when the default was registered-and who by ?

Also what is the balance outstanding ?

I think it would be a good idea to be asking for statements that cover the periods of your repayments so you can see whats what.

I occassionally receive letters from DCA, not OC, indicating a total balance due, which does reflect payments made, no charges or interest are being added. Correspondence from DCA says account is managed by them (not assigned?), payments are made to OC.

CRA does not say who registered, but was just done last week. Don't want to go into too many details as am aware of visitors etc to this excellent site! Balance o/s is below £K2.

Ok understand.

Its normal for DCAs to offer early settlement discounts.

Its quite unusual though for an account of this age that has gone to collections to be still with the OC.

Given your circumstances and the outstanding balance,its not looking like theres any formal legal action in the frame-AIC know that a Court would probably only order token payments since its not as though you are denying the debt and was paying when in a position to do so.

Were there any charges on the account that you could claim ?

Some reading for you;

http://www.consumeractiongroup.co.uk/forum/showthread.php?80307

http://www.consumeractiongroup.co.uk/forum/showthread.php?79026-Amex-and-AIC

Ok understand.

Its normal for DCAs to offer early settlement discounts.

Its quite unusual though for an account of this age that has gone to collections to be still with the OC.

Given your circumstances and the outstanding balance,its not looking like theres any formal legal action in the frame-AIC know that a Court would probably only order token payments since its not as though you are denying the debt and was paying when in a position to do so.

Were there any charges on the account that you could claim ?

OK thanks for that, and for the link on the next post too, I will look at later. Account was debit card, so was cleared each month until I ran into problems, there are just 2 return cheque charges of £15.00 each, then they stopped the account. I have not claimed for these, thinking that keeping a "low" profile might help. There was some indication and writing about "referral fees" but I wrote back and these were not added! Thanks again

t

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re defaults, i think this is still current!?

I had an Amex charge card and an Amex Credit card, both of which were "cancelled" by Amex in 2007

(in the case of the charge card 2 cancellation notices were received),

all without any Default notices being received.

The charge card was taken out in 1977 and the credit card probably sometime in the 1980s/90s.

They were cancelled following my financial difficulties.

Reduced monthly payments have been paid since.

AIC have regularly sent "settlement offer" letters for both accounts, which I have not been able to take advantage of.

The payment arrangements were made with Amex.

There are no insurances or charges on either accounts.

AIC are now requesting a review.

Having looked through a few threads on here,

would it now be prudent to make a CCA request and/or a SAR too.

Should both these go to Amex, or AIC.

AIC letters usually state that they are "managing" the accounts for American Express Europe Ltd.

Any comments/views would be welcome.

Thanks

t

I made a claim on line directly to Amex on the deadline day. I supplied them with all the relevant information, and I got an email back by return on the same day, acknowledging my claim.

Since then I have not received anything from them.

They had a note on their site about a high number of claims due to the deadline, so there may be a delay, but this long?

Do you think I should just sit tight and wait?

no ring them

Hello Again

In view of DX' s comments in coronavirus section, I thought I would work through the various cards etc. I am continuing to pay monthly since 2008!

I am paying direct to Amex two monthly payments one for a debit card, the other for a credit card.

I have never received statements for either card since DN's were sent. I had help from CAB at the time and am paying what the CAB suggested.

I have had no correspondence from Amex themselves, but, periodically I get an offer letter from AIC who are acting for American Express Europe Ltd, their client Their last letter was July 2019.

I obviously would like to stop paying! Should I write to Amex or AIC?

Thanks

t

AIC for a CCA Request if you havent done so already.

No their client

Dx

Thanks, I will let you know how I get on!

Just to be clear, and sorry if I appear thick, Does section 78 of the Act cover credit and debit (amex green card) accounts please?

it is still a credit card.

dx

CCA request, with PO sent signed for 27 April 2020. No response yet received.  Does the time limit still apply considering coved-19 please?

Well whether it does or not....ball is in their court now as they are in default of your request.

Thanks Andy, so I will stop paying the monthly sums, due next week?

Thats your decision tedney...and not one we can advise on.