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B'Card - Visa and Mastercard


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I owe about £21k on both and have done for years and years, I've had the cards for about 15 years. What do people in the know suggest:

 

a. The CCA route and the battle that brings...

b. Make them an offer. I'm thinking of borrowing an amount to make them both an offer to settle a third as a full and final.

 

I'm really struggling, if I could have afforded it then like a fool I would have spent the rest of my life on minimum payments, but I'm killing myself currently to meet these.

 

Help.....

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Hi Tom,

 

First thing to do is send a CCA Request, send it with £1 postal order, send it recorded, they 14 days to respond. Scan, post the doc's they send removing all personal details. I would maybe offer to pay what you could comfortably afford until they send you the requested doc's. If they don't provide the requested docs after 14 days you can put the accounts in dispute.

Second thing to do is claim back all penalty charges with interest. you can claim at least 6 years. Also have you been mis-sold any PPI that you can claim back with interest.

 

You can consider the full and final payment at a later stage.

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I've paid this months minimum (£500 plus combined), I know I'm being butchered on interest rates. They are coining it in and I have nothing left to do other than make an offer, or go for the CCA challenge.

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Hi Tomtom,

 

In my opinion, the days of challenging such debts by sending off a CCA request are over. It will just start a huge paperchase that will end in deadlock.

 

BC will not supply the credit agreement and we have no means now to force them to. They can send T&C's in response to a CCA request and using CPR31.16 is no longer an option.

 

In the meantime, they can, and will, chase for payments on the a/c if you fail to pay the min pay't when required.

 

Are there any penalty charges on the a/c in the last 6 years.

 

Do you have all your old a/c statements for the last 6 years to check on this.

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Hi Tomtom,

 

In my opinion, the days of challenging such debts by sending off a CCA request are over. It will just start a huge paperchase that will end in deadlock.

 

BC will not supply the credit agreement and we have no means now to force them to. They can send T&C's in response to a CCA request and using CPR31.16 is no longer an option.

 

In the meantime, they can, and will, chase for payments on the a/c if you fail to pay the min pay't when required.

 

Are there any penalty charges on the a/c in the last 6 years.

 

Do you have all your old a/c statements for the last 6 years to check on this.

We could do with some help from you

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EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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Slick,

 

No I do not have the statements and your logic is essentially one of the reasons I have just kept on going. I'm not looking to avoid debt, I just happen to think I have gave them more than enough now and need to see a route out.

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Hi Tomtom,

 

Ok, so you don't have your old statements. But do you think there may be any penalty charges for missed or late payments to the a/c.

 

Penalty charges can still be reclaimed in full plus interest.

 

If you're struggling to maintain the min pay'ts and unable to pay more, the debt will spiral due to their interest rates.

 

You could write to them asking for int't to be frozen, so you have a chance to reduce the o/s capital balance. See here for a selection of letters - http://www.consumeractiongroup.co.uk/forum/debt-bailiffs-advice/20758-creditors-dcas-letter-templates.html

 

However, be aware that BC a terrible at helping their customers.

 

The only way to stop the addition of interest is to stop paying the a/c. After chasing you with DCA's they will eventually issue a Defaul Notice and cancel the a/c.

 

At that point, no further int't will be added and you could actually start reducing the balance over time. The down-side of this method is that they will trash your credit rating.

 

Come back with a reply about penalty charges.

 

:)

We could do with some help from you

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EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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