Urgent help needed

[jandat44]

Hello fellow strugglers,

 

Due to my current circumstances, I am unable to pay anything each month to cover the interest on 3 credit cards, and cannot foresee any 'easing' of the situation at all.

 

Fortunately, I have been able to cash-in a personal pension and receive a cash lump sum. I offered each credit card company a 'share' of the cash, on a pro-rata basis, as full and final settlement - equating to approximately 22% of the total amount outstanding on each account. They have each declined my offer.

 

What can I do now? I have no other means of settling these debts.

[mrsc]

Hi and welcome,

 

Have you sent a SAR to see if the amount could be reduced due to charges ?

[jandat44]

Hi mrsc, and thanks for your swift reply!

 

No, I haven't sent a S.A.R. What is it and how do I do it?

[surprise]

A good way of dealing with credit card companies with a view to arriving at full and final settlement figure would be to ask for a copy of the agreement. Most Credit Card Companies do not hold valid agreements this would then give you a bargaining tool.

 

To send a CCA request you need to send letter N in the General debt forum letter templates, enclose a £1.00 p/o or cheque, send recorded delivery. Do not sign the letters. They have 12 working days from receipt of letter, if they don't provide you with an agreement with all the prescribe terms and conditions then they are in default and you can stop payments at that stage. A further 30 days it is a criminal offence.

 

If and when you get copies of agreements you will need to scan them in so that they can be checked.

[mrsc]

Hi Jandat44

 

I would do as Surprise has advised first,and if you need to later, the SAR (subject access request) it is a request for all the data that a company holds on you.

 

But go the CCA route for now if you need any more help just ask:)

[jandat44]

Thanks both!

 

I'll take the CCA route and keep you posted. Many thanks for your help.