GOODF's new telephone help line

[littleFred]

I notice that GOOFY RipSaw links to Interesting article on new C/T mediation service, which is really a press release for https://www.counciltaxadvisors.co.uk/ , see upthread.

[ForumWars]

Interesting that they called GOODF their sister site. I'm not sure the FSA would look kindly on that.

The FSA has not been around since 2014, it's the FCA that deals with consumer credit which was previously handled by the OFT.

[ForumWars]

His story does raise questions, such as why would RBS employ Wescott (however you spell it) to manage his account if he has been making regular payments.

I would imagine a minimum monthly payment required on a £9000 balance would be more than £20, so they technically would be 'late' on payments as the minimum monthly payment amount would not have been met. Just the interest every month would put them over their limit as they aren't even covering that with a £20 payment.

I have $9000 on a credit card and the minimum monthly payment required is around $225-230.

They would have defaulted on the account and the £20 would be an arrangement to pay. They wouldn't be late as such as the card would no longer be live and RBS would have had to issue a default notice and terminate the account prior to accepting the £20 offer. Interest would have ceased to accrue when the account was defaulted.

There are thousands of debtors on arrangements like that, some paying directly and some through DMPs. Neither these arrangements nor DMPs are legally binding. Although most creditors stick to these arrangements, it is legally possible to take these debtors to court. I know someone who was in such a payment arrangement with Santander and, despite keeping up the agreed repayments, was taken to court. Santander got their fingers burnt with this one because the account turned out to be unenforceable, the defendant was legally represented and Santander were made to pay her costs.