Debit - RMA agency

kenk

hi all,
I unwisely got a credit card, and being a student accumulated approx. €560 worth of debit on it. After Ulster Bank sent out many bills, which I couldn't afford to pay, they passed my debit on to RMA (Risk Management Alternatives). They are located in preston lancashire uk. They have sent me out several letters asking to pay the debit, and called me several times (up until I changed my number - unrelated to this matter). They informed on the phone that my credit rating is affected for the next six years.

I am just hoping some one can give me some advice? Do I really have to pay this back? Can or will they take me to court over this?

If only I hadn't got the credit card in the first place :mad:

Thanks for reading

cookie1977

Well yes it will affect your credit rating. You should contact the bank who issued you the credit card and work out some sort of a deal/repayment plan. They probably won't got to court over 500 euro as "usually" it's too small an amount. Ignore the debt collector and deal directly with the bank. I would if I were you try to sort it out rather than ignore it.

The bank may settle for a smaller lump sum paid immediatly so go speak with them now and explain your situation. Can you get some work over the summer and pay it off?

chris85

kenk wrote: »

hi all,
I unwisely got a credit card, and being a student accumulated approx. €560 worth of debit on it. After Ulster Bank sent out many bills, which I couldn't afford to pay, they passed my debit on to RMA (Risk Management Alternatives). They are located in preston lancashire uk. They have sent me out several letters asking to pay the debit, and called me several times (up until I changed my number - unrelated to this matter). They informed on the phone that my credit rating is affected for the next six years.

I am just hoping some one can give me some advice? Do I really have to pay this back? Can or will they take me to court over this?

If only I hadn't got the credit card in the first place :mad:

Thanks for reading

Ah come on now, the obvious answer is you are liable to pay this back and you should. You spent the money, it obviously has to be paid back.

They are correct in saying your credit rating will be affected for 6 years due to this.

I would doubt they would go to court but you should try arrange to make payments to clear it.

cookie1977

It's not worth tarnishing your credit rating for 500 euro

kenk

thanks for the replies, I am going to ring ulster bank and try sort a once of payment which I will borrow from a family member. What are the advantages of dealing with the bank rather than RMA?

cookie1977

The bank is the one you borrowed the money from not the RMA.

kenk

cookie1977 , why would the bank take a smaller lump paid immediately, rather
than waiting for the full amount?

cookie1977

kenk wrote: »

cookie1977 , why would the bank take a smaller lump paid immediately, rather
than waiting for the full amount?

I dont know if they would. They might, but your debt is very small. A lot of people who've had 1000's of euro of debt on their credit cards have managed to negotiate with their lenders for a smaller lump sum. The bank may have already decided to take a hit on the debt so if it recovers some of it then it's better than nothing. Speak to them, explain your situation and see what they say.

wonski

Correct me if i am wrong, but since the debt has been passed to collectors, Ulster Bank has nothing to do with it any more. You will have to deal with RMA, and they may offer you some discount/repayment plan offer.

Staplor

Sometimes the Collection Agency just annoy the person into paying but the bank hold te debt, sometimes they sell the debt on so it depends.

kenk

rang ulster bank and after being on hold for over 10 mins they informed me that RMA are acting on their behalf in regard to collecting the debit, paid half of it over the phone, but the RMA agent questioned in some detail as to when the rest would be paid back.. they were quite pushy, I realise they have a job to do, but try being a bit more understanding! :mad:

cookie1977

Debt collectors in Ireland have no legal standing. You do not have to deal with them. It's always best to deal with the person/company who you incurred the debt with.

wonski

kenk wrote: »

rang ulster bank and after being on hold for over 10 mins they informed me that RMA are acting on their behalf in regard to collecting the debit, paid half of it over the phone, but the RMA agent questioned in some detail as to when the rest would be paid back.. they were quite pushy, I realise they have a job to do, but try being a bit more understanding! :mad:

Don't expect these kind of companies to be nice, but you made right call to pay half in one go, relatively small debt not worth to let it escalate. I dealt with one of those agencies from UK for even smaller amount (forgot about one credit card when moved over here), and they are not humans on the other end of the line, that is how they work...Sad, but true.

Marcusm

kenk wrote: »

rang ulster bank and after being on hold for over 10 mins they informed me that RMA are acting on their behalf in regard to collecting the debit, paid half of it over the phone, but the RMA agent questioned in some detail as to when the rest would be paid back.. they were quite pushy, I realise they have a job to do, but try being a bit more understanding! :mad:

Understanding? Your prior posts indicate a desire not to pay your debts; if you can pay half straight away, why did you not do this previously?