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AvantCard - GSD and payment plan query

  • 14-05-2013 9:58pm
    #1
    picturehangup
    Registered Users, Registered Users 2 Posts: 424 ✭✭


    I requested, having cancelled my card, that they put me on a payment plan, rather than monthly minimum repayments, and I was advised by a guy called Niall that my credit rating would be affected adversely. Is that correct (legal), does anyone know?
    I have also been informed that I still have to pay government stamp duty, even though the card has been cancelled, and I have moved to a different provider.
    Thanks.

    picturehangup


Comments

  • #2
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    GSD = yes. When you close off an account, you'll be charged the Stamp Duty. A letter will be provided to you to give to your new card issuer so you don't get charged it again on the next due date.

    If you're going on a payment plan and altering the nature of your agreement/obtaining a lower settlement than your debt then yes it may very well appear on your ICB. You haven't really given enough information on that - but generally if you settle a debt for less than the full amount, it would be recorded on your credit report. That's pretty much the entire reason for being of a credit record.


  • #3
    wmpdd3
    Registered Users, Registered Users 2 Posts: 9,625 ✭✭✭wmpdd3


    I have been on a payment plan with the same company since last October, it is not mentioned on my ICB report.

    I paid GSD last year but I will not have to pay it for every other year that I am paying off the balance.

    To be honest I dont really care if it was on the ICB, I cant pay either way.

    But if there was any chance of you paying off the balance, I got the impression that they would settle for less than half the money owed.

    (though that may be because nearly half the amount I owe is charges as apposed to money I spent / borrowed)


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