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Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44182
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Leon, I am trying to settle a debt with Baycorp. I

Customer Question

Hi Leon,
I am trying to settle a debt with Baycorp.
I had a credit card that was sold to them a sum of $24000
I have paid back $21500 and still owe $19500 due to the interest they are charging.
Can Baycorp charge me the interest??
I want to offer $8000 to settle this debt. what would my best approach be?
Do I have to give them all of my financial details ?
Submitted: 2 years ago.
Category: Australia Law
Expert:  Leon replied 2 years ago.
Good Evening,My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.Yes they can charge you the interest as they buy the contract from the bank and what that contract says they can charge you. You can make an offer to get rid of it and it is up to them to get instructions from the bank if the bank is repaired to accept it. They can say no but there is no harm in trying. They may ask you for a breakdown of your finances but you do not have to give it to them. The decision though is theirs after speaking to the bank. I hope this makes sense and is of assistance. If there is nothing further thank you for using my services. If I have missed anything, or you have any further questions please let me know If there is anything else in the future please do not hesitate to ask. Please do not forget to leave positive feedback. RegardsLeon

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