Need help on 2 issues 1 with RBS and 1 with Link Financial

[alane29]

Hi 1st post on here so thanks in anticipation of your replys

 

1. RBS credit card went into default i entered into a repayment plan of 99£ per month which i paid for a few months and struggled to pay for the last 2 months .I asked for a lower payment but they refused .

Recd a letter saying because i failed to keep the repayment up they have "no alternative but to commence further proceeding for the recovery of the balance currently £8600".

So i phone them today they said if i didnt pay £194 within the next 7 days they will pass it to a debt recovery agency .

I explained i dont have the money right away but was willing to set up a standing order for a payment every month from this months payday but they refused .

What action should i take or just see what there next move is .

Im not worried about my credit score its already shot to bits but i am in agreements with other companies such as mdna with 2 accounts and santander .

 

2. Link financial i have read a lot about this company on here and i understand what a dodgy crowd they seem to be .Recd a letter "sale of your debt "

basically say they bought my debt of £2,355 from ge money and want full payment or i can call etc to discuss .havent called yet

Any advice .

Luckly they only have my home phone number which i rarely answer but i have been left loads of messages from them in the past week .Also they dont no where i work as i moved jobs half way through the agreement so not worried on that score

 

Any advice much appreicated .

 

Thanks

[silverfox1961]

Hi and welcome to CAG

 

I think this advice apples to both companies- DON'T TALK TO THEM ON THE PHONE

 

Here is a link to some letters you could use to negotiate.

http://www.consumeractiongroup.co.uk/forum/content.php?590-Creditors-and-DCAs-Letter-Templates-Budget-Planner

 

Use the budget planner in the link to work out what you can afford (and don't forget to include having a life in your calculations)

 

A few more details would help too

 

Do you own or rent your home?

Do you have family?

Are you claiming everything you may be entitled to?

 

Don't forget that your priority expenditure comes first. Unsecured debts take a much lower priority although by dealing with them is a good option

[alane29]

thanks i have used the budget planner and it helped with other creditors but RBS forced/got me to agree under duress to pay more and GE money would not negiotate at all they are the most difficult .

Im a single male no family and working not claiming benefits

i have a flat with a mortgage not in arrers never missed a payment .

[silverfox1961]

Thanks for that info.

What you don't want is for this to go to court. Some creditors will do this once they realise you have property.

 

No-one (except a judge) can force you to pay more than you can afford. So long as you are paying, it is highly unlikely they will go anywhere near a courtroom.

 

If anyone rings you, you are well within your rights to demand they write to you. Half the things they say on the phone they would never dare say in a letter. You do not have to go through security procedure but if you decided to allow them to speak to you, try to record it.

 

Do you know if there is any PPI on the account(s)?

Is there any charges levied on the account(s)?

as much as I hate to say this, sometimes it is good that it does go to a Debt Collection Agency as it puts you in a better position to dictate to them what ypu will pay (not what they want)

[Bazooka Boo]

It matters not what they will accept, your the one who knows what comes in and goes out so you tell them that this is all you can afford and they can either like it or lump it.

If it went to court a judge would seriously question why they think by taking legal action they can extort more money from you than you can afford, paying something is far better than nothing and is looked on much more favourably by the courts.

Are you happy that they are collecting money you genuinley owe, or have they been adding their own charges too?

[alane29]

I did have ppi on the 2 MBNA accounts which im paying £100 on 1 and £70 on the other ,but i have a complaint lodge with the fos as mdna refused to accept they were miss sold and i believe they were .

No ppi on the others .

So should i continue paying what i can ,that fine on the RBS account i can make online payment but the ge mioney debt is with link financial who i have yet to contact .

Ge money have levied 3 default charges of £30 on the account a while ago .

[harrassed senior]

Just to clarify a couple of the above points, the budget planner as mentioned, is for personal use and should never be disclosed to anyone other than a judge, DCA's might ask for this information to 'consider' your offer, but do not let them have this, it is personal informationa and as such should remain so.

 

Another point as to one reason most of us recomend no telephone conversations is that you say they have refused your offers of payment rates, however, if this went to Court you have no proof of this, so it is better to get a paper trail of what they say, and they are less likely to refuse an offer which has been made in writing, by refusing in writing by return, if you see what I mean.

 

As BB has said, it matters not a dot what they will or won't accept, what they get is entirely your decision and if they go on to refuse that (in writing of course) then you are all but home and dry.

[alane29]

thanks for the advice so far this week have had 5 calls from Link each one sounding more and more urgent but i havent answered am going write to them an make an offer based on my budget sheet .

[Bazooka Boo]

They are desperate, it's nearly Christmas and they need to buy some mince pies for their sordid X-mas party..