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  • #1

    Stupid question

    I have just realised my post office credit card is still accruing interest and charges, even though i have agreed a monthly payment, this is enforceable however the debt is just growing! So my question is should i just stop paying now until it defaults to stop the interest building up?

    I have also since sent them a new offer of pro rata payments which they have failed to acknowledge.
    Tags: account, card, charges, collection, con, credit, credit card, debt, default, defaulted, defaults, failed, interest, letter, life, money, monthly, office, paid, pay, payments, post office, refund, state, stop
  • #2
    Re: Stupid question

    Well enforceable or not, why pay something that just keeps growing? Throwing good money after bad, no?
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    • #3
      Re: Stupid question

      Originally posted by Never-In-Doubt View Post
      Well enforceable or not, why pay something that just keeps growing? Throwing good money after bad, no?
      Yes thanks i knew it was a silly question, im having a very blond moment

      Will stop paying and await the default

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      • #4
        Re: Stupid question

        If you dont mind a default on your credit file, i would stop paying till they default you, then agree a repayment.

        Trouble is with that, they may and can, keep charging interest and charges till they decide to default you, which case the debt will get bigger, but that being said, its going up now anyway so would be no different i guess
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Stupid question

          Originally posted by SXGuy View Post
          If you dont mind a default on your credit file, i would stop paying till they default you, then agree a repayment.

          Trouble is with that, they may and can, keep charging interest and charges till they decide to default you, which case the debt will get bigger, but that being said, its going up now anyway so would be no different i guess
          I cant beleive i hadnt noticed this before, bring on the default please, to add to the collection.....Didnt someone once say life begins at 40, well that couldnt be any truer for me

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          • #6
            Re: Stupid question

            but you're not 40 yet!
            I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

            If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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            • #7
              Re: Stupid question

              Is it worth sending a letter first??

              Only a quick one, state that you have "agreed" a plan with them, but they continue to add interest and charges to your account, that your balance is growing and that it is not beneficial to either party in the long term.

              As them to stop completely, and as a Gesture of Goodwill, to refund those already paid. Dont know how long you had this agreement, but it could add to a tidy some being knocked off.

              As above, you can stop paying and get defaulted, but that will be another (near) 7 years with a default by the time they get round to defaulting the account in 6 or 7 months
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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              • #8
                Re: Stupid question

                Its however you look at it really.

                Oscar is right, but at the same time, if they take 7 months to default (8 if you include the rectify time before it gets terminated) thats 8 months of payments you have saved, to spend on something more important, thats my look on it anyway.
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                • #9
                  Re: Stupid question

                  Originally posted by Never-In-Doubt View Post
                  but you're not 40 yet!

                  Aha but i will be when all my defaults start to leave credit file

                  Thanks guys

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