Capital one Aqua Help

[Kenobi]

Hi there I need a bit of help if possible.

 

 

I came across this forum online and have problwms

 

 

I have two credit cards

 

 

aqua and capital one and

 

 

I owe £220 on the aqua and

£330 on the capital one

 

 

which are both rising with interest and late payments.

 

 

Both have entered default and

 

 

it's my fault as I wasn't able to cope with my finances too well (job loss).

 

 

The late payment and interest make up a chunk of the debts and

 

 

I would like help and guidance on how to proceed to pay monthly.

 

 

Should I ring and dicuss with them to set up a plan

 

 

but I've read in forums you should never ring and only write?

 

 

Is there a way to remove the excess charges like?

[Bazooka Boo]

Hello and welcome,

 

Firstly you're right not to phone them! Keep everything in writing, keeping copies of letters, and obtain ''Proof of Posting'' which is free from the PO counter.

You should also keep a diary of events.

 

Firstly you need to inform them that you are in financial difficulty, in writing, andthat as a gesture of goodwill you propose to pay them an amount each month (That YOU can afford-NOT what they tell you to pay!)You may have to send them an Income and Expenditure form, BUT not one of their own, get one off here OR off National Debrtline site.

 

As a recipricol gesture of goodwill, you want them to refund all the charges on the account, and stop interest.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?387436-Letter-for-consideration-regarding-Hardship-or-Financial-Difficulty

[Kenobi]

Okay I shall send a letter to each of them using the template you have provided and will report if I have any difficulties. Thank you and should I write I only want responses via mail contact?

[Bazooka Boo]

Have they been harassing you by phone?

 

You can tell them that your only method of communication will be via letter, and all or any correspondence by other means will be treated and reported as harassment.

 

You can edit this letter to suit..http://www.consumeractiongroup.co.uk/forum/showthread.php?387367-Harassment-by-Telephone-%28update-21.04.2014%29

[Kenobi]

Thanks for the reply and they do phone and I will send that as well shall I include it within the letter above or send separate?

 

Also about the income and expenditure table

 

 

because rim currently unemployed day my family will be helping me and will give me £20 a month towards the debts

until I get back up and

 

 

would like to give £10 to each company

 

 

do you think they will most likely remove the previous charges and stop interest as good will?

 

 

Will print and send letters by recorded tomorrow and hope

 

 

Thanks so far guys

[dx100uk]

how old are these cards?

 

 

are they on your Credit file?

 

 

dx

[renegadeimp]

When you say entered default what do you mean? If they placed a default on your file then they shouldn't be adding interest or charges as the contract/agreement you had with them has been terminated.

[Kenobi]

When you say entered default what do you mean? If they placed a default on your file then they shouldn't be adding interest or charges as the contract/agreement you had with them has been terminated.

 

 

 

For the capital one card I've received a default notice and have been told I'm in default and the aqua card has said you are about to go into it

[renegadeimp]

If they've given you the notice and a default has been entered on your file, then the agreement is terminated and they can't add interest.

 

Was this letter a default notice or a notice of sums.

[Kenobi]

If they've given you the notice and a default has been entered on your file, then the agreement is terminated and they can't add interest.

 

Was this letter a default notice or a notice of sums.

 

 

Aqua is default notice and capital one im sure it has entered default. I have sent the letter with income and expenditure tablealong with only contacting me via letters. When I recieve a reply I will post it here so you can understand more.

 

 

Thanks a lot so far guys I appreciate it you are good people

[Bazooka Boo]

OK, as these debts are NOT a priority, they attract the minimum legal payment of £1 a month, end of, DO NOT pay them anything more than this, and IMO I wouldn't accept handouts from my family either, this is nothing more than an unsecured debt.

 

Some more questions, How old are these accounts?

When did you take them out and how?

 

Have you checked your credit file yet?

The I&E form should be one YOU have created or printed off from here or CCCS or another debt charity, the ones they send out are puerile and go nowhere close enough to show your true income and outgoings.

 

Ensure you get proof of posting when you send them anything, they tend to lose all you send them.

Send 2nd class post, and keep copies of everything you send.

Keep a diary of events too.

[Kenobi]

OK, as these debts are NOT a priority, they attract the minimum legal payment of £1 a month, end of, DO NOT pay them anything more than this, and IMO I wouldn't accept handouts from my family either, this is nothing more than an unsecured debt.

 

Some more questions, How old are these accounts?

When did you take them out and how?

 

Have you checked your credit file yet?

The I&E form should be one YOU have created or printed off from here or CCCS or another debt charity, the ones they send out are puerile and go nowhere close enough to show your true income and outgoings.

 

Ensure you get proof of posting when you send them anything, they tend to lose all you send them.

Send 2nd class post, and keep copies of everything you send.

Keep a diary of events too.

 

 

Had the two cards for around roughly a year now and have kept receipts of postage also used the income expenditure from here. How would I go about paying £1 a month if I wanted to? And I haven't checked credit file yet

 

 

Thank you

[renegadeimp]

You tell them you are in difficulty, procide a basic budget summary and tell them that they are getting £1 a month for the next 3 months, to be reviewed. Just be aware that some lenders, especially capone will try and continue adding interest and charges.

[Bazooka Boo]

Yep, get their bank details, and set up a standing order to pay £1 a month, send them a basic I&E with your offer of payment,they don't need to accept it, you're going to pay it regardless.