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Received attached letter from Virgin announcing transfer of £3488 CC debt to Arrow Global. Included in same envelope was introductory letter from Arrow, requesting I make contact with Moorcroft who are now apparently "managing" my account.
Also have had couple of missed calls from Arrow to my mobile over last couple of days. I intend to request contact by written letter only.
Original account was with Virgin partner MBNA (under Virgin brand), transferred to Virgin itself last year. Original account opened Oct 2008. Last payment made 13 Apr.
Last contact with Virgin I made was Sept 2015 requesting holding period of 30 days.
Would appreciate any advice on best way to deal. Do I respond to Arrow or Moorcroft?
My personal situation is:
Currently on low income of £670pm following business failure earlier this year.
Not expected to regain a full liveable wage for 6-9 months.
Most other creditors currently accepting £1 per month nominal payment.
I'm accepting of the fact that I will at some point probably need to enter into an installment plan, but am looking to "buy time" in the interim / delay the process if possible.
Ceased paying all loans and CCs around March/April 2015. Balances as follows:
Post Office Credit Card £4500
HBOS C Card £2100
New Day C Card £2100
Barclaycard £3600
Virgin CC £3500
Capitol One CC £4200
Barclaycard £4900
Tesco Loan £1700
Argos Card £495.
Santander Directors Personal Guarantee (Ltd co. bank account) £2450
Utility Warehouse £420
Am homeowner with approx £17k personal equity, after mortage / sec loan / sec OD / wife's share of equity.
Mortgage and secured loans being paid as per normal.
No liquid funds available to offer creditors.
Also have had couple of missed calls from Arrow to my mobile over last couple of days. I intend to request contact by written letter only.
Original account was with Virgin partner MBNA (under Virgin brand), transferred to Virgin itself last year. Original account opened Oct 2008. Last payment made 13 Apr.
Last contact with Virgin I made was Sept 2015 requesting holding period of 30 days.
Would appreciate any advice on best way to deal. Do I respond to Arrow or Moorcroft?
My personal situation is:
Currently on low income of £670pm following business failure earlier this year.
Not expected to regain a full liveable wage for 6-9 months.
Most other creditors currently accepting £1 per month nominal payment.
I'm accepting of the fact that I will at some point probably need to enter into an installment plan, but am looking to "buy time" in the interim / delay the process if possible.
Ceased paying all loans and CCs around March/April 2015. Balances as follows:
Post Office Credit Card £4500
HBOS C Card £2100
New Day C Card £2100
Barclaycard £3600
Virgin CC £3500
Capitol One CC £4200
Barclaycard £4900
Tesco Loan £1700
Argos Card £495.
Santander Directors Personal Guarantee (Ltd co. bank account) £2450
Utility Warehouse £420
Am homeowner with approx £17k personal equity, after mortage / sec loan / sec OD / wife's share of equity.
Mortgage and secured loans being paid as per normal.
No liquid funds available to offer creditors.
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