Credit Card repayment agreement

bblueblood

Hi, today I received a letter from my bank PTSB re credit card repayments (that I am having difficulty repaying) that states they have agree to freeze interest and charges and I just have to pay x amount for 24 months to clear the balance.
Now the problems I have with this is that they are only freezing the amount from this month.

1, approximately 10 months ago I started reducing the balance by paying e20 every couple of weeks through the banks online facility.
With no warning they cancelled the credit card thus I couldn't make online payments to reduce balance.

2 , approximately 6 months ago I filled out and sent off the SEPA direct debit mandate on back of my credit card statement to repay my cc. At this point I believed the bank would deduct the stated amount from my bank a/c but I still received cc statements stating no payment had been made! I rang PTSB who confirmed they received dd mandate but they couldn't understand why payment had not been taken from my PTSB current account and used to reduce cc. They said they would look into this problem and contact me, 4 or 6 weeks later still no contact from bank, I phoned them and eventually got through to them where they confirmed I couldn't pay by dd as the account was in arrears, the lady apologised and said I should have been told this!
The bank said the only way to make the repayments was over the phone but they're impossible to get through to at the best of times!
3, Through all this time I was still being charged interest and charges every month, I could now no longer afford to pay back as I couldn't pay over the phone so I told the bank we needed to negotiate a repayment plan.
4, in November I was given an "assessment of means" form to complete which showed I we were struggling financially an barely breaking even every month. They received this from back in late November. Now they want me to pay back all interest and charges up to this month.

Basically is there anything I can do to get a write-down or reduce the balance as I believe it wasn't entirely my fault the repayments were not being made when I could afford, today I can't afford to pay,
Thanks and sorry for such a long message.

bblueblood

bblueblood wrote: »

Hi, today I received a letter from my bank PTSB re credit card repayments (that I am having difficulty repaying) that states they have agree to freeze interest and charges and I just have to pay x amount for 24 months to clear the balance.
Now the problems I have with this is that they are only freezing the amount from this month.

1, approximately 10 months ago I started reducing the balance by paying e20 every couple of weeks through the banks online facility.
With no warning they cancelled the credit card thus I couldn't make online payments to reduce balance.

2 , approximately 6 months ago I filled out and sent off the SEPA direct debit mandate on back of my credit card statement to repay my cc. At this point I believed the bank would deduct the stated amount from my bank a/c but I still received cc statements stating no payment had been made! I rang PTSB who confirmed they received dd mandate but they couldn't understand why payment had not been taken from my PTSB current account and used to reduce cc. They said they would look into this problem and contact me, 4 or 6 weeks later still no contact from bank, I phoned them and eventually got through to them where they confirmed I couldn't pay by dd as the account was in arrears, the lady apologised and said I should have been told this!
The bank said the only way to make the repayments was over the phone but they're impossible to get through to at the best of times!
3, Through all this time I was still being charged interest and charges every month, I could now no longer afford to pay back as I couldn't pay over the phone so I told the bank we needed to negotiate a repayment plan.
4, in November I was given an "assessment of means" form to complete which showed I we were struggling financially an barely breaking even every month. They received this from back in late November. Now they want me to pay back all interest and charges up to this month.

Basically is there anything I can do to get a write-down or reduce the balance as I believe it wasn't entirely my fault the repayments were not being made when I could afford, today I can't afford to pay,
Thanks and sorry for such a long message.

Sorry I can't find a relevant place for this post.

heldel00

Celebrity and showbiz definitely wouldn't be the right place!

bblueblood

heldel00 wrote: »

Celebrity and showbiz definitely wouldn't be the right place!

I know that that's why I said it....

Any one know how I post in the right place most places I try it says I'm not allowed post there!

xzanti

Moved from Celebs & Showbiz.

L1011

You weren't particularly proactive in following up on when payment avenues got closed off (and stopping transactions to a cancelled card is entirely normal). As it stands, they aren't required to freeze the interest to begin with.

MABS may be able to negotiate something but I suspect solo you won't get anywhere.

lawred2

Why should you get a write down?

sunny2004

https://www.mabs.ie/en/

Contact them first, get the appropriate advice..

bblueblood

L1011 wrote: »

You weren't particularly proactive in following up on when payment avenues got closed off (and stopping transactions to a cancelled card is entirely normal). As it stands, they aren't required to freeze the interest to begin with.

MABS may be able to negotiate something but I suspect solo you won't get anywhere.

No proactive!!! I tried 3 different methods.

The card was cancelled without my knowledge even though i was reducing the amount fortnight through their online facility but they cut off this payment option.

I was advised to pay by direct debit (they supplied the form) but then weeks later they discovered I wouldn't be able to do this either.

I was next advised the only way to pay was by phone but impossible to get through to them at times.

L1011

bblueblood wrote: »

No proactive!!! I tried 3 different methods.

With months between them. There is no way an outside person will see this as taking real action. Banks also state to contact them immediate if you run in to difficulties making payments - not try various methods at multi-month intervals.

They've already shown some forbearance in stopping interest accrual - there is not a lot more you can expect. No, I don't (and never have) work for a bank.

bblueblood

L1011 wrote: »

With months between them. There is no way an outside person will see this as taking real action. Banks also state to contact them immediate if you run in to difficulties making payments - not try various methods at multi-month intervals.

They've already shown some forbearance in stopping interest accrual - there is not a lot more you can expect. No, I don't (and never have) work for a bank.

There wasn't months between them although there was a few week I didn't pay anything after they cancelled the card out of a bit laziness I suppose (I hadn't realised the cancelled the card I just assumed their online facilities had changed or something).
We agreed to set up dd, great I thought " excellent problem solved at last" until a few weeks later, I checked my bank ac and realised the dd never happened. I contacted the bank but they were not very helpful, they had my paperwork they just didn't know why dd hadn't been set up.
They said they would investigate and contact me in when they resolved the issue.
No contact from bank.

I phoned after a few weeks they then informed me I had been given the wrong info and they apologised for the mix up.

On numerous occasions I have rang bank to pay (they said this was the only option) but sometimes I would be on hold for 30 mins or so before I hung up the phone!

My only other option would be to go to a branch with a gun and force the cashier to take my money 😄.

bblueblood

L1011 wrote: »

Banks also state to contact them immediate if you run in to difficulties making payments - not try various methods at multi-month intervals.

I contacted them as soon as I was having difficulties repayments (I wasn't in financial difficulties I just had no way of giving my money to them), they told me what to do and I did exactly that, eventually interest and charges invited THEN I had difficulty making repayments.

L1011

bblueblood wrote: »

There wasn't months between them although there was a few week I didn't pay anything after they cancelled the card out of a bit laziness I suppose (I hadn't realised the cancelled the card I just assumed their online facilities had changed or something).
We agreed to set up dd, great I thought " excellent problem solved at last" until a few weeks later, I checked my bank ac and realised the dd never happened. I contacted the bank but they were not very helpful, they had my paperwork they just didn't know why dd hadn't been set up.
They said they would investigate and contact me in when they resolved the issue.
No contact from bank.

I phoned after a few weeks they then informed me I had been given the wrong info and they apologised for the mix up.

On numerous occasions I have rang bank to pay (they said this was the only option) but sometimes I would be on hold for 30 mins or so before I hung up the phone!

My only other option would be to go to a branch with a gun and force the cashier to take my money 😄.

I didn't see how there couldn't be months between them when you give us a timeline with 10 months, 6 months and now. Further info has clarified that, a bit.

If you have actual evidence of contacts and attempts to pay you'd have a decent argument to get the interest on that amount from then until now removed - but you'd need to pay it now.

bblueblood

L1011 wrote: »

I didn't see how there couldn't be months between them when you give us a timeline with 10 months, 6 months and now. Further info has clarified that, a bit.

If you have actual evidence of contacts and attempts to pay you'd have a decent argument to get the interest on that amount from then until now removed - but you'd need to pay it now.

Sorry I don't blame you for getting a bit lost reading such a long text all over the place .
What I meant was 10 months ago I started paying, this went on for a couple of months!
They took over 2 months before they knew my dd was invalid. That was only after I rang them numerous times. They didn't bother to call me to inform me of the error.

bblueblood

bblueblood wrote: »

Sorry I don't blame you for getting a bit lost reading such a long text all over the place .
What I meant was 10 months ago I started paying, this went on for a couple of months!
They took over 2 months before they knew my dd was invalid. That was only after I rang them numerous times. They didn't bother to call me to inform me of the error.

Also it took them from November to end of February to freeze interest after I informed them I was having financial difficulties.