Capital One help needed

[fletchie]

Hi,

 

I am just in the process of trying to sort my debts out. My marriage broke down and in the same month had my purse stolen which resulted in £3000 being taken from my abbey bank account. This money was wages and overdraft. The majority of the money was replaced but I lost in all almost £500. It took almost a month to sort out and to get a new bank account.

 

The result of this and the marriage break up is that I am heavily in debt due to having to pay double my outgoings compared to when I was living with my husband.

 

I owe Capital One just short of £4000 on the credit card. I have rung up and offered £50 per month but they refused and asked for £700!

 

They have slapped on some charges and another £12 today.

 

What is the next step once they default my account - they mentioned on the phone about selling the debt off to a collection agency. Can anybody advise how I negotiate with either Capital One or whoever they sel my debt to? I don't dispute the debt and will make payment to what can afford but I am so worried about being harrassed and would rather show willing to pay up rather than keep hanging my head in the clouds and ignoring my problems. I owe the following debts:

 

Capital One Credit Card- 3926.48

Nationwide Loan - 3332.83 (not secured)

Egg Credit Card - 2106

Egg Loan - 2183 (not secured)

Black Horse Loan - 5579 (not secured)

Black Horse Secured Car Loan - 9591 - This has been paid and I will continue to do so, I need the car to stay in work. This is up to date and not in arrears.

 

Can anybody please give me some useful advice on what letters to send off, I'm getting phone calls constant on my mobile and I'm getting scared to pick up the phone.

 

Many thanks

[PGH7447]

Hi OK you need to do the following:

 

Send all creditors a phone harassment letter to stop the calls, until that kicks in answer and say in writing only, they soon get the message.

 

Next send each OC = Original Creditor a SAR this is in the templates library. it costs £10 and should be sent recorded, you need to state that you want all statments going back 6 years on when the account was opened whichever is the longest, you also ask for the credit agreement for all credit cards and loans.

 

They have 40 days to supply this stuff.

 

you can then work out any unlawful charges and start to reclaim them back.

 

if they fail to produce a credit agreement then the account is in dispute, the rule is no valid agreement no enforceable debt.

 

---------------------

 

If you wish to carry on paying them then contact each creditor and send them an Income and Expenditure form detailing what you can realistically afford each month, if they refuse to co-operate then approach CCCS to set up a DMP CCCS can be found here CCCS - Free Debt Advice from the UK's Leading Debt Charity

 

either way get your statements so you can reclaim your charges