Credit Card Issue - Solicitors Letter

Onslo

Recently received a letter from solicitor re AIB CC which I cancelled in 2011. There was roughly €700 owed. I was under the impression that as I had cancelled my CC, the interest was then frozen? I am in college, not working, but had been sporadically paying the CC debt over the last 18 months – last payment made December 2012. I had not been living at the address bills were registered at (lapse in attention on my part).



Fast forward to roughly 6 months ago, bank contacted me re outstanding bill. I stated I believed interest had been frozen along with cancellation – lady I spoke with was rather defensive, borderline rude and threatening on the phone while I attempted to genuinely portray my circumstance.
I requested statements which the bank rep (kindly) sent me. Not long after I received a letter from debt collectors and just last week received a letter from solicitors stating: we shall issue legal proceedings against you for further recovery of this sum without further notice.


Advice on what I should do? Outstanding amount is €616.13. My credit rating is now marked. Is it possible for my credit rating to be marked clean if I agree an amount / payback with bank? Not sure where to go from here.


In final year, pretty STRESSED atm.

ABajaninCork

Just write back to the bank stating your circumstances and outlining a payment plan. I'm afraid you've rather brought this on yourself by paying sporadically and not engaging with the bank. Your last payment was over a YEAR AGO. Did you really expect the bank to do nothing? You should have told them your circumstances from the outset and not let things get this far. Even if you paid only a fiver a week, the bank wouldn't have taken action as you were servicing the debt.

And no. Interest is not frozen because you cancelled the card. If there's a balance on it, then interest will continue to be charged. The mark will remain on your file until the debt is cleared.

I'd also send that letter via registered post as proof the bank received it.

Losty Dublin

Onslo wrote: »

Recently received a letter from solicitor re AIB CC which I cancelled in 2011. There was roughly €700 owed. I was under the impression that as I had cancelled my CC, the interest was then frozen? I am in college, not working, but had been sporadically paying the CC debt over the last 18 months – last payment made December 2012. I had not been living at the address bills were registered at (lapse in attention on my part).



Fast forward to roughly 6 months ago, bank contacted me re outstanding bill. I stated I believed interest had been frozen along with cancellation – lady I spoke with was rather defensive, borderline rude and threatening on the phone while I attempted to genuinely portray my circumstance.
I requested statements which the bank rep (kindly) sent me. Not long after I received a letter from debt collectors and just last week received a letter from solicitors stating: we shall issue legal proceedings against you for further recovery of this sum without further notice.


Advice on what I should do? Outstanding amount is €616.13. My credit rating is now marked. Is it possible for my credit rating to be marked clean if I agree an amount / payback with bank? Not sure where to go from here.


In final year, pretty STRESSED atm.

There is an AIB page on the Talk To section of Boards as well as a personal section in the biz forum. You should ask them for assistance but I suspect that the words "Them", "Pay" and "Back" will be part of the solution

Onslo

Losty Dublin wrote: »

There is an AIB page on the Talk To section of Boards as well as a personal section in the biz forum. You should ask them for assistance but I suspect that the words "Them", "Pay" and "Back" will be part of the solution

Ha! I would assume so too:D Thanks. Said I'd try get an 'unbiased' response/opinion.

Onslo

ABajaninCork wrote: »

Just write back to the bank stating your circumstances and outlining a payment plan. I'm afraid you've rather brought this on yourself by paying sporadically and not engaging with the bank. Your last payment was over a YEAR AGO. Did you really expect the bank to do nothing? You should have told them your circumstances from the outset and not let things get this far. Even if you paid only a fiver a week, the bank wouldn't have taken action as you were servicing the debt.

And no. Interest is not frozen because you cancelled the card. If there's a balance on it, then interest will continue to be charged. The mark will remain on your file until the debt is cleared.

I'd also send that letter via registered post as proof the bank received it.

Was not evading the debt or bank hence it was not my expectation that nothing would be done by the bank. Will send them a registered letter tomorrow outlining my circumstances. Thanks for the advice . Wasn't too sure what to do regarding solicitors involvement. When I contact AIB direct, I presume the solicitor will no longer be involved?

Losty Dublin

Onslo wrote: »

Ha! I would assume so too:D Thanks. Said I'd try get an 'unbiased' response/opinion.

Couldn't resist, sorry But do engage with them ASAP before they either issue a judgement against you or increase the interest owed plus fees.

Fred Swanson

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Onslo

Fred Swanson wrote: »

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O'Riordan & Co.

I'll make them an offer. That would be best done over phone or mail?

Fred Swanson

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Onslo

Fred Swanson wrote: »

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Right. Thanks for advice.

simplybam

Was in a similar situation few years ago. Owed nearly AU$ 3000 on an Australian CC when I moved to UK. Got in touch with the bank few months down the line and just asked them to let me know how much I exactly owe them so I could clear the debt.

They replied saying - not in those exact words - pay us AU$ 700 and we call it quits. Paid that and the case was closed.

Just saying, might just be worthwhile getting an address up north for a bit and then offering settlement. You'll never know your luck once you're outside their direct jurisdiction :rolleyes:

Valentine1

Write to or call the solicitor.

GerardKeating

Losty Dublin wrote: »

There is an AIB page on the Talk To section of Boards as well as a personal section in the biz forum. You should ask them for assistance but I suspect that the words "Them", "Pay" and "Back" will be part of the solution

When did that open?

hfallada

OP you cant change a credit rating. It stays the same for 7 years and then its clear. So you might as well make a settlement with them as your credit rating is gone

Losty Dublin

GerardKeating wrote: »

When did that open?

First posts on Talk to AIB are from 23/3 so I'd guess it began around about then.

johnnyskeleton

simplybam wrote: »

Was in a similar situation few years ago. Owed nearly AU$ 3000 on an Australian CC when I moved to UK. Got in touch with the bank few months down the line and just asked them to let me know how much I exactly owe them so I could clear the debt.

They replied saying - not in those exact words - pay us AU$ 700 and we call it quits. Paid that and the case was closed.

Just saying, might just be worthwhile getting an address up north for a bit and then offering settlement. You'll never know your luck once you're outside their direct jurisdiction :rolleyes:

And you don't feel any remorse about, you know, taking 2.3k that doesn't belong to you?

simplybam

johnnyskeleton wrote: »

And you don't feel any remorse about, you know, taking 2.3k that doesn't belong to you?

Remorse about taking money from a bank? Are you kidding? :eek: