Egg and Apex - please can you advise?

[starfly]

I have an old credit card ( from 2003) which was sold to Apex in 2009. The balance is around £5500.

The debt no longer shows on my credit file. However, I would like to make an agreement with Apex so that they stop sending me letters. Unfortunately I do not have the funds to pay off the debt as I am no longer able to work due to ill health. Every time I get letters from debt collectors ( I have 2 other debts too), I become very stressed, sometimes suicidal. I do not say this lightly.

What is the best way to tackle this? I may be able to borrow funds from family members who are concerned about how this is affecting me. I am aware that the contract is most likely unenforceable but I will do anything I can to make this letters stop for good.

Can a solicitor deal with this for me? Has anyone had any experience of such a service? I am unable to deal with ongoing stressful issues as my health is very up and down so I would be willing to engage someone to handle this for me for a reasonable fee along with the other 2 debts I am struggling with.

Thank you for reading my post.

[basa48]

Re: Egg and Apex - please can you advise?

The first thing I would ask is when did you last make a payment or written acknowledgement of this debt?

Do you know if Apex has bought this debt only Egg ceased as a creditor some years ago and I believe sold their credit card business to Barclaycard.

[starfly]

Re: Egg and Apex - please can you advise?

HI Basa
Thank you so much for replying - I believe the debt was sold along to Apex along with many others that were reportedly unenforceable. I seem to recall offering to pay a few hundred pounds ( which my mother offered to pay on my behalf) as a full and final settlement but they wanted more which we could not afford so I let it drop. This was probably about 5 years ago now.

So far they have not taken me to court - its just they send me a letter every few months and I just want these to stop. I would be willing to try and resolve this as it affects my mental health quite badly but I need to be assured that whatever is decided will be final and that it will definitely put an end to the matter.

[basa48]

Re: Egg and Apex - please can you advise?

Personally I would not make any sort of offer to Apex. First off it admits liability and second it shows both a weakness in your position and an ability to pay. They are unlikely to accept an offer of less than around 80% of the balance.

After 6 years of non payment or written admittance of the debt it becomes Statute Barred and there is nothing they can do.

It is quite likely, since Egg no longer exist as a credit provider that the original Credit Agreement will be difficult for Apex to get hold of.

Have you requested a copy?

It is stressful, but IMO not as stressful as having to find thousands of pounds from borrowing from family.

In the final analysis, if the worst happens, they cannot make you pay more than you can reasonably afford.

[Debt Camel]

Re: Egg and Apex - please can you advise?

Personally I would not make any sort of offer to Apex. First off it admits liability and second it shows both a weakness in your position and an ability to pay. They are unlikely to accept an offer of less than around 80% of the balance.

This just isn't correct. A full and final letter can be written where the settlement money is coming from someone else can easily be written to show you can't afford to make anything but a token payment towards the debts. See http://debtcamel.co.uk/full-final-settlement-rejected/.

And whilst "a few hundred" may not have been enough to settle £5,500 of debt 5 years ago, now I would be very surprised if Apex would not settle for massively less than 80%.

After 6 years of non payment or written admittance of the debt it becomes Statute Barred and there is nothing they can do.

Unless the previous settlement offer letter was very carefully worded, it may well have constituted a written acknowledgement of the debt, so the 6 years would start from that point and the debt would not currently be statute barred.

[nemesis45]

Re: Egg and Apex - please can you advise?

Good morning Starfly,
When exactly did you make the " offer of settlement" was this to
Apex or Egg?

Is this another one of the debts your friend has put in the carrier bag mentioned in your other thread?

nem

[starfly]

Re: Egg and Apex - please can you advise?

Morning Basa

They already offered to settle for around 30% of the balance a few years ago. Unfortunately I did not have the money then and I don't have it now either.

They can send me letters forever as far as I can see - I find it very stressful along with the letters I get from other debt collectors for 2 other cards which I am also trying to deal with. I will post re previous correspondence below as Nemesis has asked me for more info.

[Debt Camel]

Re: Egg and Apex - please can you advise?

If they offered you 30% a few years ago, I would probably be thinking of offering them 15% now.

Could you say some more about your general situation? How old are you, do you own a house or any other assets?

[starfly]

Re: Egg and Apex - please can you advise?

nemesis45

I have looked up the information you requested ( on my 'hello' thread) and here is the info below - the balance was more than I thought : ( : (



1. original creditors for this particular account - Egg
2. It was opened 05/07/2002
3.defaulted April 2015
4. Balance on default 6619
Current balance 6594

I do not have a copy of a letter sent and it looks like I sent them an email ( probably on a web based system) - the email would have been to Apex.
I believe that I offered them £600 which my mother offered to lend me til I had hopefully go back on my feet after a period of clinical depression.

The reply from Apex, dated 3rd December 2009:

'Further to your email dated 28th November, the contents of which have been noted, and I apologise for the delay in responding.

I can confirm that we will accept £1900.00 in full and final settlement.

To avoid missing the opportunity of paying at a reduced rate we must receive your payment no later than 21/12/2009. Once this deadline has passed, the settlement and the full balance due.'


I remember feeling relieved that they were willing to look at a settlement but unfortunately I just did not have access to this amount of cash to pay one creditor. I had hoped they would accept the £600. I had 2 other creditors as well so I I started to get overwhelmed. My mother had offered to help me on the basis that all of the debts would be sorted and there would not have been enough to pay everyone if we had paid that much to Apex.

Someone then pointed me towards a forum called Consumer Action and I tried to find out if there was a way to deal with my debts. THey seemed to advocate getting information and looking at charges which might have been added and such like and I must have sent of a query about this as a result from the original creditor.

So I have a letter back from 'Egg' entitled ' your request for data'

Thank you for your recent request for data regarding xxxxxxxxxx with Egg Banking Plc

We have received the statutory fee of £10.00 from you for this request, bt are unable to progress as the payment submitted is invalid du to no payee present.

Please send a new cheque or postal order for £10.00 made payable to ' Egg Banking Plc' to the address opposite.


Regards

Customer Details Team

I don't recall sending them a cheque with no payee - I don't think that would have made a mistake like that but I was very stressed and overwhelmed at this point. Unfortunately, my illness means I can 'lose' months and months at a time and I am so sorry but I cannot remember any more. I was lucky that I found a folder yesterday with this correspondence from Egg and Apex - I was looking for info yesterday to post on this forum. I must have put this folder together back in 2009/ 2010 when I last tried to tackle this.

I hear from Apex once or twice a year - invariably the week before christmas they send me a letter.

I would just like to know how I can stop these letters please.

This is the smallest of my 3 debts so I started with this one. Also, it is relatively uncomplicated as it just went from Egg to Apex and has stayed with Apex. The other two cards have sent on the account to so many others its harder to deal with but I will start different threads for those when I am able.

From past experience, I know that I have to tread very carefully as I can get overwhelmed easily so that is why I have only posted details of one for now.

So, I would welcome thoughts/advice on what my next step should be re Apex/Egg - bearing in mind that I want the letters to come to an end.

Thank you

[Debt Camel]

Re: Egg and Apex - please can you advise?

This is the smallest of my 3 debts so I started with this one. Also, it is relatively uncomplicated as it just went from Egg to Apex and has stayed with Apex. The other two cards have sent on the account to so many others its harder to deal with but I will start different threads for those when I am able.

From past experience, I know that I have to tread very carefully as I can get overwhelmed easily so that is why I have only posted details of one for now.

That is why I am asking about your full financial situation, to see if there is a better alternative for you than fighting each of these debts individually.

[basa48]

Re: Egg and Apex - please can you advise?

This just isn't correct. A full and final letter can be written where the settlement money is coming from someone else can easily be written to show you can't afford to make anything but a token payment towards the debts. See http://debtcamel.co.uk/full-final-settlement-rejected/.

And whilst "a few hundred" may not have been enough to settle £5,500 of debt 5 years ago, now I would be very surprised if Apex would not settle for massively less than 80%.


Unless the previous settlement offer letter was very carefully worded, it may well have constituted a written acknowledgement of the debt, so the 6 years would start from that point and the debt would not currently be statute barred.

My own experience varies. I have tried 'full & final' offers of 50% and more and always had them rejected, even recently. It appears to me DCAs prefer a regular payment plan which keeps the debt 'live' and gives them the option to sue later. I don't think DCAs give any regard to your ability to pay.

I didn't want the OP to make a 'full & final' offer without advice to avoid restarting the SB clock.

[nemesis45]

Re: Egg and Apex - please can you advise?

Back to Basics please:

You state the Egg Account was defaulted in April 2015 is this correct?
If so something is wrong.!!

nem

[starfly]

Re: Egg and Apex - please can you advise?

Thank you for the quick response Nemesis45

Sorry, typs - degault date is April 2009 ! Quite a difference.
I tried to sort it but couldn't ( as they would not accept what I could offer) so I have not communicated with them since the end of 2009. That is when I asked for details re the account but they say I didn't put the payee on the cheque or something. I have typed out the contents of their letter.

Seems a bit odd as surely if that was the case, they could have written the name of the payee themselves and sent me the information I requested?

Anyway, since then I get default letters from Apex ( roughly twice a year) but I have not responded.

From what I have gleaned by reading around all this in the last few days, it will be Statute barred by early next year.
It is no longer showing on my credit file - I guess that is because the default date was over 6 years ago now? But I guess they could send me letters forever if I don't take some action.

[nemesis45]

Re: Egg and Apex - please can you advise?

Ok, things to consider>
Statute Barred in England & Wales = 6 clear years with no payments or unequivocal written acknowledgment of the debt.
The Offer letters made May have effectively acknowledged liability for the debt if not worded in a way that avoided admission.

Do you have any copies of the offer letters?

nem

[starfly]

Re: Egg and Apex - please can you advise?

Hi Nemesis45
I'm afraid I don't have a copy of the letter - I think it was probably an email through their website as I cannot find an email I sent. However, their letter in reply ( dated December 2015) refers to my email with an offer. That is the only time I wrote to them.

My best guess is that I would have explained my circumstances and my inability to pay in full and offered them some money as a full and final settlement. This is because the stress was making me ill and my mother offered to help me with some money as long as I could come to an agreement with the 3 credit card companies. As Apex did not accept what I could offer, the whole thing fell apart and then I became too ill to deal with it.