tibawo
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Studio late payment charges while on reduced payments
tibawo posted a topic in Mail order catalogues
Hi all, I am after some thought and hopefully some pointers on my late payment charges with Studio. After getting myself in a pickle I am on reduced payments for a few things and most have frozen interest and waive any fees. Due to a zero hours contract I often have to pay my priority bills first. My payment to Studio is £5 a month and no interest is being added. As of today the Debt stand at £120. However i have noted that if I am late with a payment I get charged £12 which means that the debt doesn't go down and another 2 months is added to the payment plan. Say for example over the course of a year I am late with just 3 payment that's £36 which increases the plan by 7 months which I feel is a bit harsh. More so that if it got passed over to a debt collector the amount is frozen. I have read other studio threads but not sure if it is still relevant as they are from a few years back. I am not sure how to proceed, Is it worth doing? is it similar to claiming from the banks? can anyone help with a template? -
I am really confused now. Bit of a background I used to have a barclaycard. Struggled with debt and ended up in IVA. This was completed a few years back and I started to rebuild credit. Eventually got a new card. I wrote the current letter based on this new card. The reply I got today says they think charges are fair as per previous response but the copy of the letter refers to the other card I had in 2012 not this one. They have included an ombudsman leaflet so what do I do next? Write to them I intend to take action or just go to ombudsman?
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the ink ran out on the printer so I have not had chance to continue with my claim. I can't seem to find the template letter. could I use the one I sent to the bank or is there some legal reference for credit cards that needs to be in it?
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Still had fun and games as the download was php formatted, in the end I downloaded open office as used to have this on the old laptop and it worked straight away. I have put in all the late payment and over limit charges. Total for charges was £108 and with a compound interest of 24.9% it is a total of £117.52 [can't remember where I got this % figure from but am assuming it is the right one]. The charges come from April 2015 onwards at £12 each. The limit on my card is £150. other bank account is sorted. I don't have any overdraft on the bank account just £8 fees for bouncing dd etc. I am going to focus on credit card charges first otherwise I might get myself confused. I presume I am now ready for the next step which is the letter? is there a template? I have seen one or two letters on other peoples success threads but not sure if I can just adapt these?
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Thank you for your replies so far and for being non judgemental of my situation. I have used step change to build a budget based on the minimum hours I have been working with so I can move forward but anything 'extra' to throw at the arrears/debts would be a god send to my health. to be honest I am not up with all the laws and processes to do with bank charges but know that to go through a company who charge is daft. I can't get the spreadsheet link to work at the moment, on the ipad I can see it but not enter text and can't even open it on the laptop. I am going to get a coffee and try again.
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Hi all, Bit of a background of me, came out of iva but in the mean time got a good job on a zero hours contract which in hindsight is bad for someone learning to budget. hours feel drastically in June and despite company saying work will pick up never has. I am now in a continual cycle of charges. I have written to Nationwide but am stuck over Barclays both bank and cc. bank charge £8 sometimes when a couple pounds over and sometimes more than once a week. bcard charge me for late payment and then again for going over. I have had to borrow to meet rent and council tax. leccy bill is rising so started to research into charges. really not sure how to approach Barclays. I have list of charges but have no idea about how to structure letter. want to tackle bcard first as this is spiralling and causing most stress. charges are £12 a pop. any pointers would be gratefully received.
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