Need some advice on a credit card debt & Fredericksons

[star123]

Hi guys

I have a debt on a Nationwide credit card I took out last year. I lost my job in March and missed some payments. I asked Nationwide if I could lower the min payment and they refused. Now they have passed the debt onto a company called Frederickson who have called me today. I have now just started a new job. Is there anything I could do. Fredericksons say I have to pay them £2600 now. The debt with Nationwide is just under £2400. I'm only 21 and I really shouldve thought about getting this card because now my credit score is messed up. I dont want to avoid the debt but it seems that they dont understand that I cant pay £2600 right now.

Advice on this matter will be amazing

Thanks in advance

[star123]

Re: Need some advice on a credit card debt & Fredericksons

Please can someone help. Fredericksons wont leave me alone. theyre calling me everyday and leave about 3 text messages on my phone. I dont have £2600 to pay them

[labman]

Re: Need some advice on a credit card debt & Fredericksons

Hi,

The first thing to do is next time they phone, tell them you will only communicate in writing, then refuse to speak to them on the phone. If they continue phoning, repeat only in writing for the avoidance of doubt, and keep the bills showing their calls, as they may well amount to harrassment.

I know it's easy to say, but don't worry too much about Fredericksons. They can demand what they want, but they can't have what you haven't got. Nationwide still appear to own the debt, and are only using them to help try to collect it by using scare tactics. When you're not used to them, they work!

Secondly, send of a CCA request under S78 of the CCA - this asks for a copy of your original credit card agreement. They have 14 days in which to respond to this, so it buys you a bit of time. I doubt they will have much of a problem getting hold of the agreement from Nationwide, but you never know.

The way forward from there can be twofold, depending on what you want to do. You can come to an affordable repayment arrangement with them to repay the debt over a number of years. Alternatively you can fight the unenforceability route which means you find issues which make the debt unenforceable in a court of law, aiming for a period of 6 years without acknowledging the debt in writing or by making a payment - it may sound improbable, but plenty here are doing just that.

Depending on which choice you make will depend on who helps you to a large extent. I and many others could help you set up a Debt Management Plan where this, and any other debts you may have, are settled in an affordable way over x number of years. You can set one up yourself very easily using sites on the internet which are excellent, and which we can point you to, or organisations like Payplan and StepChange will arrange one for you FREE of charge - NEVER pay for one.

If you choose the UE route, others on the site are very capable to help you work towards this.

It really is entirely up to you, but to give yourself a little breathing space, remember what I said at the start - everything in writing for the avoidance of doubt, and send the following ensuring you get at least Proof of Posting (many send Recorded Delivery so there is evidence of receipt:

Address

Date

Dear Sir,

Re:- Account No: XXXXXXXX/Your Reference Number: XXXXXXX

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection From Unfair Trading Regulations 2008 (CPUTR). I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

If you intend to send a reconstituted copy of the CCA you must declare the reason why it has been reconstituted and if the original exists and in what form (microfiche) etc.

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

I look forward to hearing from you.

Yours faithfully,

[IMG]file:///C:\Users\Home\AppData\Local\Temp\msohtmlclip1\01\c lip_image001.jpg[/IMG]

Print Name


In the bit above print name at the end, insert the attached and sign on top of it to stop your signature being lifted.

[star123]

Re: Need some advice on a credit card debt & Fredericksons

Thank you so much! I will use this letter. I do want to repay this debt as it is my debt, who would I write to in regard to paying it back. Nationwide or Frederickson?

[labman]

Re: Need some advice on a credit card debt & Fredericksons

Neither yet. Send off the above just to make sure all is in order - I suspect it will be, but worth checking.

If a Debt Management Plan is what you are looking to do, so that you can arrange repayments at an affordable rate, if this is your only debt, or you don't have many debts, I'd suggest you manage it yourself with the help of this site which is excellent (LINK).

Basically it goes through your income and expenditure with you, works out what you can afford to offer to pay each month, and then produces letters to send to your creditors. It really is extremely good.

You can work through this while you await your agreement, and as long as all is in order, you'll be in a position to send them a copy of your income and expenditure form, along with your offer. The letter askes them to freeze all interest and charges as well.

The downside, which you'll find almost impossible to avoid at this stage anyway, is it will potentially hit your credit record for 6 years, though you can't have missed that many payments and you be lucky in that they may not have defaulted you.

[FlamingParrot]

Re: Need some advice on a credit card debt & Fredericksons

Secondly, send of a CCA request under S78 of the CCA - this asks for a copy of your original credit card agreement. They have 14 days in which to respond to this, so it buys you a bit of time. I doubt they will have much of a problem getting hold of the agreement from Nationwide, but you never know.

The way forward from there can be twofold, depending on what you want to do. You can come to an affordable repayment arrangement with them to repay the debt over a number of years. Alternatively you can fight the unenforceability route which means you find issues which make the debt unenforceable in a court of law, aiming for a period of 6 years without acknowledging the debt in writing or by making a payment - it may sound improbable, but plenty here are doing just that.

Yes, some of us are doing just that and I'm always the first to suggest that route where applicable. :thumb:

Sadly, the OP in this case is only 21 as quoted below, which means they would have been just 15 in 2007, making it highly unlikely they would have obtained credit before the repeal of s.127 in April 2007.

The debt with Nationwide is just under £2400. I'm only 21 and I really shouldve thought about getting this card because now my credit score is messed up. I dont want to avoid the debt but it seems that they don't understand that I cant pay £2600 right now.

[star123]

Re: Need some advice on a credit card debt & Fredericksons

Thank you ever so much!!! I'll post letter tomorrow morning

[star123]

Re: Need some advice on a credit card debt & Fredericksons

Neither yet. Send off the above just to make sure all is in order - I suspect it will be, but worth checking.

If a Debt Management Plan is what you are looking to do, so that you can arrange repayments at an affordable rate, if this is your only debt, or you don't have many debts, I'd suggest you manage it yourself with the help of this site which is excellent (LINK).

Basically it goes through your income and expenditure with you, works out what you can afford to offer to pay each month, and then produces letters to send to your creditors. It really is extremely good.

You can work through this while you await your agreement, and as long as all is in order, you'll be in a position to send them a copy of your income and expenditure form, along with your offer. The letter askes them to freeze all interest and charges as well.

The downside, which you'll find almost impossible to avoid at this stage anyway, is it will potentially hit your credit record for 6 years, though you can't have missed that many payments and you be lucky in that they may not have defaulted you.

Ugh Nationwide defaulted me in June, at that time I had only missed two payments. its already on my credit file. I checked with Experian

[labman]

Re: Need some advice on a credit card debt & Fredericksons

If they were going to default you, the sooner, the better. I often asked for defaults to be placed against the CRF's of clients of my charity taking the attitude the sooner they default, the sooner they fall off.:beagle: