Fashion World Interest

[suedes]

Hi,

I've had to go into a payment plan with Fashion World and reliable over a debt of around £2250 we arranged a monthly payment of £25 which we can afford. However they are still charging interest which means that the balance is going up over £50 every month.

The account was opened electronically in about 2009.

Is there anyway to get this interest stopped?

Thanks guys

[Never-In-Doubt]

Re: Fashion World Interest

Hiya

sorry for the delay, just seen this (luckily as I seen you online and so checked you out)

Unfortunately there is nothing formal you can demand - you can ask them but they usually say no sadly....

see below link for templates, worth a go I guess? Failing that consider cessation of payments then go in with an offer to settle instead of paying the interest etc.

On £2250 we could possibly get that down to a F&F of less than a grand......

Templates here ---> allaboutDEBT | Our Templates | General Debt Templates

[suedes]

Re: Fashion World Interest

That OK thanks for your help. I figured it might have been better in another section.

I may be in a position in a few months to settle with them but I don't know exactly when, it could be towards the end of the year.

If we were to cease payments how long could we drag it out for before they went down the enforcement route?

Would RC take it to court or would it be sold on?

Thank You.

[Never-In-Doubt]

Re: Fashion World Interest

That OK thanks for your help. I figured it might have been better in another section.

I may be in a position in a few months to settle with them but I don't know exactly when, it could be towards the end of the year.

If we were to cease payments how long could we drag it out for before they went down the enforcement route?

Would RC take it to court or would it be sold on?

Thank You.

Hiya - reliable collections are pussies, they will not enforce it. You'll have a few months, its easy to drag it out whilst you try and save save save then we can try and get it negotiated to a better F&F whenever you're ready......

It leaves you in control and when you stop paying, they tend to sit up and listen and stop being bullies.

Up to you, I have sorted this firm a few times for posters here.... never lost (touch wood)..

[suedes]

Re: Fashion World Interest

Ok thanks for that I think I will pay them for the next couple of months while we get our ducks in row, then take it from there.

Thank You again.

[suedes]

Re: Fashion World Interest

Hi all,

I have looked down the back of the sofa and sold a load of stuff on ebay and I think I should now have the money for a full and final. The next payment is due shortly.

I didn't pay them enough last month.

Should I not pay and sit and wait for the phonecalls/letters or should I write to them now, and what should I offer?

Thanks

[MrsD]

Re: Fashion World Interest

I would cease payments and send a CCA request, I know it's post 2007 but you need to give em notice that they are not going to be allowed to push you about from now on in. Reliable are anything but, and mostly a bit ignorant so they don't know what you know. Keep coming back and telling us what they say. Don't answer the phone to them and keep everything nice and neat in writing.........

[suedes]

Re: Fashion World Interest

Thanks will send off a cca.

[suedes]

Re: Fashion World Interest

Evening all,

I Received back my CCA request today from fashion world, they have sent an "true copy" of my agreement but they actually appear to have sent 2 different agreements none signed both with my address and account number written in and different interest rates.
The letter explains that one is the original and the other the current but it is not clear which is which.

Interestingly it seems that they have now stopped the interest since my original payment plan was set up but they clearly have added interest and charges since that plan was set up.

So what is my next step?

Thanks Guys and Gals.

[Never-In-Doubt]

Re: Fashion World Interest

Unsurprisingly it'll be

Do you want to pay or utilise the UE route?

[suedes]

Re: Fashion World Interest

To be honest I think I would like to pay as little as possible.

I'm already going down the road of ue with some other debts and will soon be 4 years in with them. I don't really want to start down the path with this.

I have some money saved up what is my next move?

Thanks

[Never-In-Doubt]

Re: Fashion World Interest

What is the balance owed? Who owns the debt, ie who is writing to you?

[suedes]

Re: Fashion World Interest

What is the balance owed? Who owns the debt, ie who is writing to you?

Hi reliable is writing to me on behalf of fashion world the balance is just over £2600.

Thanks

[suedes]

Re: Fashion World Interest

Hi reliable is writing to me on behalf of fashion world the balance is just over £2600.

Thanks

Polite Nudge!

[Never-In-Doubt]

Re: Fashion World Interest

Reliable collections may accept an offer, but not what you'll be looking to pay - if you tried a grand they'd most likely knock it back so to be frank I would cease all payments and go down the UE route for now, see if it gets sold to a proper DCA or at worse, leave Reliable Collections in a position where they realise you hold the cards....

This firm is part of the N Brown Group (same as the OC). So they are not as keen to write off monies owed....