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Hi

 

I currently have debts with Cabot (from Egg) and MBNA (virgin CC) being paid back through a DMP with CCCS. In the last 2/3yrs I have paid back £5000 and have the following left:

MBNA £2815.09

Cabot £793.55

 

I have only just learnt about FFS's and although I have next to nothing to offer, I read they sometimes accept as little as 20% so could possibly look to clear the Cabot debt with around £160. Do I have to offer MBNA anything?

 

Is this worth doing? Is there anything I should know apart from the usual keep copies of letters, ensuring they mark the debt as cleared etc? Is there any alternatives I could try to get rid of some of this debt!?

 

Many many thanks!

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Hi and welcome to CAG

 

Here is a link to some letters to help negotiate with your creditors.

 

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

 

Also look at this excellent blog

http://www.consumeractiongroup.co.uk/forum/entry.php?202-Full-and-final-settlements-A-guide-for-the-rest-of-us

 

Before going down any route, do you know if you have any late payment/overlimit charges on the accounts?

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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I did have such charges when I was using the accounts but since moving to a DMP I haven't missed any payments and in 2.5yrs I have a couple of times called CCCS to reduce the payments for 1 month and Cabot and MBNA have been advised of this, but this has only happened 2 or 3 times, and only once since Cabot took on the debt.

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HMM! I think it could do no harm to SAR both original creditors (Egg-MBNA) to get hold of copies of your statements then if there are loads of charges on there, claim them back-with interest. You would be surprised at how much a few charges can add up to.

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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I actually claimed back charges from my old Barclays current account a few yrs back and got over £800 from them, I think I held off on my CC's as I literally accepted the offer from Barclays as it was all going to court ETC and they weren't as easy to pursue anymore

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I have all my statements from MBNA for sure - do you think its worth trying to claim any charges?

 

I do but it all depends on how much there is to claim back as opposed to the hassle involved (just my opinion)

 

I actually claimed back charges from my old Barclays current account a few yrs back and got over £800 from them, I think I held off on my CC's as I literally accepted the offer from Barclays as it was all going to court ETC and they weren't as easy to pursue anymore

 

Bank charges (as opposed to credit card/loan charges) are no longer reclaimable under normal circumstances

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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I do believe it's Egg you need to be chasing

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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