Idem/robinson/cabot alcredit cards mid 90's - **WRITTEN OFF**

[ScarletPimpernel]

MBNA and Capital One from the nineties? The chances of a DCA being able to get an enforceable agreement are remote.

 

In terms of the moral issue, a desire to repay is laudable, but should be balanced against the facts, which are that the original creditors sold the accounts for a fast buck. As Sidewinder has pointed out above, they sell them for a fraction of their value; it's an unsavoury business. Frankly, managing the implications of a life-changing illness is far more important than worrying about boosting the balance sheet of some offshore investment company (almost all the debt purchasers are owned this way).

 

Taking control is empowering, and if you do it you will see that these companies have no power and no authority over you. I'd be inclined to write to them along these lines:

 

I recently wrote to advise you that due to life-changing diagnosis, my circumstances have changed and I am unable to maintain repayments to you at the rate I have been paying.

 

Your refusal to accede to my reasonable request was disappointing.

 

Consequently, I am now writing to tell you that in future I will be paying £5 per month, subject to your compliance with my request below.

 

This is a formal request under Ss.77/78 of the Consumer Credit Act 1974. I require you to send me, without delay and in any case within the prescribed period, a true copy of the credit agreement relating to this account. In the event of your failure to comply, no further payments will be made. I enclose a postal order in the sum of £1, which represents only the statutory fee and is not to be used for any other purpose.

 

Yours etc.