Views Please

[assisted blonde]

I have an old credit card debt from when I was in business that I am quite happily paying off at £25.00 per month and am prepared to carry on paying.

 

The DCA have contacted me for a 6 month review and asked me if i want to pay it off (ha ha) its just over 4.5k

so I said no and I wasnt going to up my payments as I have a terminal illness and am not really interested,

 

after a bit of discussion I said reduce the bill by 4k and I will think about it.

 

They then came back to me and said yes we will reduce by 4k if you pay the rest.

 

Now I wish I had said reduce by a bit more as they are obviously trying to get all they can before I drop dead.

 

i am not really bothered about paying it off even though I could,

and I wont be asking for any new credit anywhere as I am not a very good risk these days !

 

so do you think it is worth going back to them and asking if they would take £300 in full and final settlement (1 yrs payments)

or shall I just carry on as I am.

 

is there any benefit that anyone can see in clearing this off?

[BRIGADIER2JCS]

Hi, sorry to hear about your illnes, personally

if you are tempted to go for the F&F I would

offer £250.00 just to get rid of the pests.

Peace of mind and no more threatening

letters could be wort it.

 

brig.

[MandM]

Hi ab.

 

I have an old credit card debt from when I was in business that I am quite happily paying off at £25.00 per month and am prepared to carry on paying.

 

I think you've answered yourself . Who's the DCA? It sounds like a good deal IF it is actually F&F settlement, and IF they weren't going to come back for another chunk, and IF they weren't going to sell the balance on to the next shower. You'd need to get it in writing for sure.

 

But, taking into account everything else you've said, just do what makes you feel best. I would.

 

Mike

[dx100uk]

is this debt on your CRA file?

 

anyone offering a discount

KNOWS it can never go to court for a good reason

 

and are offering a discount before you findout why

 

dx

[assisted blonde]

Thanks for your views

 

think I might just offer 250 to get rid of them but only once I have it in writing that it is in full and final settlement

wouldnt want them sniffing around my other half when I've gone to see if they can claim from my estate, mind you think i might spend it all first.

 

DCA is the infamous Cabot,

to be fair though they havent been a problem,

call every six months,

sometimes I answer sometimes I dont,

I have been paying this for about 7 years now.

 

I must admit though it did give me a great deal of satisfaction to tell them on the phone this week that I was Ill had a short life expectancy

and would rather spend my money on holidays while I can than pay them,

 

once the poor little guy had recovered himself (not what you would usually expect someone to say when you phone them asking for money) he was really quite sweet.

 

I am very proud that we paid off all our other business debts though its just this one left so there could be some satisfaction in getting rid of it once anbd for all.

 

I will give it a bit more thought.

[dx100uk]

so you've been cash cowed for 7yrs?

 

have you ever checked your cra file to prove this debt is real?

 

something smells

 

dx

[assisted blonde]

Its real I really do owe the money, I came to an agreement a good few years ago when we came out of the business that I would pay 25.00 per month unless my financial situation improved. Well it has but I didnt tell them that so just kept paying it as its not a problem.

I suppose I could cancel the DD but dont want to start the game of "hope the postman dosnt call today again" its so nice to not worry about debts anymore. We have cleared all our other debts and its only this one left.

i assume that they would like me to pay in one go as I am probably not going to be around long enough to make them any money at £25.00. and they cant be sure if there will be anything in my estate to make a claim on.

To be fair we are in a comfortable financial situation at the moment and have been for a while but as this isnt causing any problems its not somthing I can get too worked up about, I was just wondering what other people thought and if anyone could see any benefit in me paying them off.

[Sidewinder]

Ultimately whether you carry on paying, stop paying or vary the amount is entirely up to you, but one thing that jumps out from your post is that you are paying by DD.Without wishing to be a doom monger,I would seriously consider changing that to a Standing Order. It would not be beyond the realms of possibility that a DCA would help themselves to whatever they liked and argue about it later - whoops! an administrative error caused us to empty your account. Bad enough to try and get the money back whilst you are relatively well, but God forbid if this were to happen when you were not in a position to argue with them.

 

Definitely worth a pitch for a F&F settlement at an amount you are happy with in order to tie up a loose end, but please have a look at that Direct Debit!

[assisted blonde]

Hadnt thought of that Sidewinder, suppose I have been a bit compalcent in just letting in ride for years, good advice, thanks.