AQUA Card, unable to meet payment plan.

[oldagehappens]

Hello.

 

I have an AQUA card which defaulted around 12 months ago,

 

I arranged a payment plan with them and have been paying.

 

I'm now at the point I cant meet the payments, got to that point that all is falling down.

 

they ring all the time and I have advised that at the moment I cant pay anything.

Tonight the adviser said that you run the risk of the payment plan ending and not being allowed another one, charges and interest will start to be added.

While you are in arrears the calls will continue.

 

What can be done under these circumstances?

Do i just sit back and let the balance rise, will they pass it onto a DCA?

 

Its just one of many accounts that are now failing on the plans as cash flow is so tight.

[Conniff]

Has your income reduced making it harder or is it that you just can't manage any longer without some little extra?

You say 'plan', do you have other debts and are you in a debt management plan with someone?

Is it just the Aqua card?

How much are you paying and how much is outstanding?

Edited July 12, 2012 by Conniff

[oldagehappens]

Has your income reduced making it harder or is it that you just can't manage any longer without some little extra?

You say 'plan', do you have other debts and are you in a debt management plan with someone?

Is it just the Aqua card?

How much are you paying and how much is outstanding?

 

Pretty much the money is gone.. Still out of work, kids to feed, house to pay for etc....

 

There is £1500 balance and paying £20 per month.

 

Never been with a management company as i always arranged my own with creditors..... I can no longer meet the original payments though.

[Conniff]

Have you checked it for ppi and charges that can be reclaimed?

 

You can drop them a letter - never do it on the phone - saying you're sorry but you can't manage that payment any longer and will have to reduce it by half to £10 per month until things get better. You will need to be telling them this and not asking.

[oldagehappens]

Have you checked it for ppi and charges that can be reclaimed?

 

You can drop them a letter - never do it on the phone - saying you're sorry but you can't manage that payment any longer and will have to reduce it by half to £10 per month until things get better. You will need to be telling them this and not asking.

 

Whats the deal though if you DONT have any funds for these creditors of unsecured debts? My main concern is paying for food, the house, electricity etc..... We dont have enough for the main stuff neverlone the unsecured debts

[oldagehappens]

As present I'm unable to meet the payments to AQUA,

I have advised this to them and they have said that if I dont make the agreed sums then the plan will break and interest will be added.

 

Ok, I understand.

 

In the last 3 days I must have had 7/8 calls from different advisers and the first 3 were asking

 

"Can you not borrow the money from friends or family to bring the account up to date".

 

Is this not a breach of the OFT guidelines?

 

I have requested that I do not wish to talk on the phone and yet the NEVER write to me.

Im not sure where to go,

I dont want the plan to break and charges/interest added but at the same time we are in a whole heap of mess.

 

Mortgage, council tax, cars, ....all in arrears so a £1000 card bill is the least of my worries at the minute.

 

Shall I write to them offering a £1 per month?

[maroondevo52]

Two threads merged.

 

oldagehappens could you please stick to this thread regarding this issue, make's it easier for people to help.

 

Thanks.

 

Scott.

[MandM]

Hi OAH,

 

If you can only afford £1 per month then why not.

 

Can you demonstrate this?

 

Might be worth it for your own peace of mind.

 

You don't have to do an I&E and they can't demand it but at least you'd have demonstrated your position.

 

When I was in a similar position went through my finances and completed an I&E to see what was left,

firstly deducting ALL priority payments - mortgage, council tax, work and travel, utilities, food, clothing, etc etc. C/cards are not priority.

 

Then the balance is divided pro rata amongst the 'non' priorities such as credit cards etc.

If that gives £1 per month then so be it.

If they were to take you to court then you'd be using the same I&E so that's all they're likely to get as a court is unlikely to make you pay more than you can afford.

 

I believe it is a breach of guidelines and I'm sure someone will point out the necessary breach. They can't ask you to borrow more to pay their 'debt'.

 

Stick to your guns about contact - in writing only!! Very important as you may need that paper trail another day.

 

Have a look in the letters library also as there are some good letters requesting stopping of interest, hardship etc that may be of use to you.

 

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

 

Mike

[PGH7447]

As present I'm unable to meet the payments to AQUA,

I have advised this to them and they have said that if I dont make the agreed sums then the plan will break and interest will be added.

 

Ok, I understand.

 

In the last 3 days I must have had 7/8 calls from different advisers and the first 3 were asking

 

"Can you not borrow the money from friends or family to bring the account up to date".

 

Is this not a breach of the OFT guidelines?

 

Yes it is

 

I have requested that I do not wish to talk on the phone and yet the NEVER write to me. so dont answer their stupid security questions, say in writing and put the phone down, they cant talk if you dont stay on the line

 

Im not sure where to go,

I dont want the plan to break and charges/interest added but at the same time we are in a whole heap of mess.

 

Mortgage, council tax, cars, ....all in arrears so a £1000 card bill is the least of my worries at the minute.

 

Shall I write to them offering a £1 per month?

 

Write and offer £1 a month, how do you pay at the moment, ie Direct debit, standing order? if DD cancel and set up a standing order for £1

 

did you check about charges and PPi as advised earlier?

[PGH7447]

in addition, always pay your priority bills befire any credit cards, unsecured loans -

[BRIGADIER2JCS]

You can remind them that they have breached OFT Guidance 2011 section 3.7 (b)

''Pressuring dedtors to raise funds by selling property or by taking on further borrowing

(including extending existing borrowing).

I can put together a letter for you if needed to cover all the points.