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Thread: Aqua Card refuse promissory note and A4V

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  1. #26
    MPotter's Avatar

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    Default Re: Aqua Card refuse promissory note and A4V

    Ok so I assume you're saying that the debt is valid and should be paid. As I cannot afford to pay it at the ridiculously high interest rate that has been imposed what should I do?

  2. #27
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    Default Re: Aqua Card refuse promissory note and A4V

    There are a few options but many of them will damage your credit rating, however i am guessing this is fairly poor anyway seeing as the APR is 50%.
    You can continue paying the minimum payments and as much extra to pay it off

    Try to apply for other credit cards with a lower interest rate and transfer the balance

    If the account has been defaulted - write and explain the situation and enter a repayment plan on the condition they stop adding interest

    If the account has not been defaulted , similar to above but ask that they do not default the agreement (it will still damage your credit rating)

    Do nothing and watch the amounts clock up - wait for it to be sold hopefully and then sort it out

  3. #28
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    Default Re: Aqua Card refuse promissory note and A4V

    Quote Originally Posted by warwick65 View Post
    There are a few options but many of them will damage your credit rating, however i am guessing this is fairly poor anyway seeing as the APR is 50%.
    You can continue paying the minimum payments and as much extra to pay it off

    Try to apply for other credit cards with a lower interest rate and transfer the balance

    If the account has been defaulted - write and explain the situation and enter a repayment plan on the condition they stop adding interest

    If the account has not been defaulted , similar to above but ask that they do not default the agreement (it will still damage your credit rating)

    Do nothing and watch the amounts clock up - wait for it to be sold hopefully and then sort it out
    Thank you. In response to your proposed solutions:

    1) Yes I could do the minimum payments but I can't possibly do more!
    2) I have tried but been refused.
    3a) The account has not been defaulted yet. However as per 4 below I plan to default the account as soon as the freeze period (September) expires.
    3b) I have done so and been told no we can't do a repayment plan if you can afford the minimum payment. This is less than the monthly interest!
    4) I think that's the most likely solution. What should I do? My Mum and Dad are very anxious about debt collectors attending our home address and I'm personally worried that I could be arrested if the Police are called. I am very well known to my local Police force and have heard about other people being arrested for non-payment of civil debts.

  4. #29
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    Default Re: Aqua Card refuse promissory note and A4V

    From my understanding, the minimum repayment should not be less than the interest charged @Debt Camel

    Debt is not a criminal offence, you can not be arrested for debt. I am not sure where you heard about people being arrested for non payment of civil debts, not in the UK.
    If you are well known to the local police, debt collectors should be a walk in the park. Besides, they very very rarely call. I have had one , once and when I asked him to go away (politely) he did , with no payment
    The only way you could be was if a court ordered you to attend for example an examination of your income and expenditure and you didn't. They could then issue a warrant but I have never ever heard of that
    @charitynjw any thoughts?

  5. #30
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    Default Re: Aqua Card refuse promissory note and A4V

    Good afternoon, @warwick65

    They don't put you in Clink for being stoney nowadays.



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  6. #31
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    Default Re: Aqua Card refuse promissory note and A4V

    Quote Originally Posted by warwick65 View Post
    From my understanding, the minimum repayment should not be less than the interest charged @Debt Camel

    Debt is not a criminal offence, you can not be arrested for debt. I am not sure where you heard about people being arrested for non payment of civil debts, not in the UK.
    If you are well known to the local police, debt collectors should be a walk in the park. Besides, they very very rarely call. I have had one , once and when I asked him to go away (politely) he did , with no payment
    The only way you could be was if a court ordered you to attend for example an examination of your income and expenditure and you didn't. They could then issue a warrant but I have never ever heard of that
    @charitynjw any thoughts?
    Cheers. Given that they've already broken the rules, should I just default and tell them Foxtrot Oscar? Could I send a WOIRA if the debt is passed onto a collector? Obviously I will open any mail from debt collectors, Aqua Cards or their parent company Newday Ltd!

  7. #32
    warwick65's Avatar

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    Default Re: Aqua Card refuse promissory note and A4V

    Well I do not want to recommend any course of action, I assume you mean the notice of implied rights access

    If I ever get a letters saying they will visit I sent a version of one of those, some respond and some don't. No real legal status i don't think, well unless you want to take them to court for trespass but you would need to show a loss , which if you don't answer the door is difficult

  8. #33
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    Default Re: Aqua Card refuse promissory note and A4V

    well pointed out Warwick65

  9. #34
    MPotter's Avatar

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    Default Re: Aqua Card refuse promissory note and A4V

    Quote Originally Posted by warwick65 View Post
    Well I do not want to recommend any course of action, I assume you mean the notice of implied rights access

    If I ever get a letters saying they will visit I sent a version of one of those, some respond and some don't. No real legal status i don't think, well unless you want to take them to court for trespass but you would need to show a loss , which if you don't answer the door is difficult
    You are correct - sorry to not be clear. I meant a Withdrawal Of Implied Rights Of Access.

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