DMP Mutual Support Thread - Part 12

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  • sourcrates
    sourcrates Posts: 28,848 Ambassador
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    Suseka97 wrote: »
    Okay - recent topics around unenforceable debts have peaked my interest. So out of interest, what is making certain debts unenforceable? Is it the age of the debt or the fact that DCAs hold no paperwork setting out the T&Cs at the point the contract between the original creditor and lender took place or a mix of both?

    Good to hear some folks are in the position of settling those debts well below the amount outstanding with F&Fs or being able to ignore entirely.

    It makes no difference if you took out your agreement 20 years ago, or last week, when you make a sec 77/79 request for information, the creditor must supply you with a copy of a credit agreement.

    Dosent have to be the original, no requirement for it to be signed either, it can be a reconstituted copy, made up of information the creditor holds on you.

    However it cannot just be made up, if they don't hold sufficient info on you to comply, they must say so.

    Then you have agreements taken out prior to April 2007, if yours falls into this bracket, they must also provide copies of the "terms of the agreement", in a nutshell failure to provide these terms, can render the debt unenforceable.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • January2015
    January2015 Posts: 2,369 Forumite
    First Anniversary First Post Combo Breaker
    Suseka97 wrote: »
    Okay - recent topics around unenforceable debts have peaked my interest. So out of interest, what is making certain debts unenforceable? Is it the age of the debt or the fact that DCAs hold no paperwork setting out the T&Cs at the point the contract between the original creditor and lender took place or a mix of both?

    Good to hear some folks are in the position of settling those debts well below the amount outstanding with F&Fs or being able to ignore entirely.

    Hi Suseka
    MBNA sent us copies of signed agreement (yes it was our signature), T&Cs and statement of every transaction every carried out on the card. I thought it was surefire to be enforceable. However, one of the T&Cs on the signature sheet told us to refer to a T&C which was not on the signature sheet. In those days you signed a tear off slip and returned it. It turns out we were never provided with that particular T&C prior to signing and therefore could not have signed in full knowledge. That's what made our account unenforceable:j
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • Twins
    Twins Posts: 346 Forumite
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    Morning all....

    I received a letter this morning from NCO agreeing to accept my F&F offer. In the letter they've added they agree to accept the sum as full and final settlement of the current outstanding debt..
    Also, says that my credit file will be updated to shoe the account as "partially satisfied" and this will remain on the credit file for 6 years from date of default.

    So great news on the above but just one thing, they didn't confirm the part about they agree that the debt won't be sold on. Does the above cover this do you think?

    Thank you!
  • January2015
    January2015 Posts: 2,369 Forumite
    First Anniversary First Post Combo Breaker
    Twins wrote: »
    Morning all....

    I received a letter this morning from NCO agreeing to accept my F&F offer. In the letter they've added they agree to accept the sum as full and final settlement of the current outstanding debt..
    Also, says that my credit file will be updated to shoe the account as "partially satisfied" and this will remain on the credit file for 6 years from date of default.

    So great news on the above but just one thing, they didn't confirm the part about they agree that the debt won't be sold on. Does the above cover this do you think?

    Thank you!

    Well done on getting a F&F accepted :beer:
    Technically if they mark the credit file as partially satisfied that means the account is recorded as closed and shouldn't be able to be sold on. Some people would be happy with that. However, I would write back and ask for confirmation this means the account will be closed and the remaining balance cannot be sold on to any third party. I just like to dot the i's and cross the t's to make sure there are no nasty surprises for me in the future.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • Weakmoments
    Weakmoments Posts: 50 Forumite
    First Anniversary
    Hi I've decided to self manage my Dmp and am trying to do the letters when I advise my creditors of my income and expenditures. Do I have to list all the creditors and the amounts I will be paying each one?? I've been on the Nedcab website and their letters show this. TIA
  • heavenlyharry01
    heavenlyharry01 Posts: 128 Forumite
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    User avatar
    By Twins
    4th May 17, 9:59 AM

    What's this?
    TWINS


    Morning all....

    I received a letter this morning from NCO agreeing to accept my F&F offer. In the letter they've added they agree to accept the sum as full and final settlement of the current outstanding debt..
    Also, says that my credit file will be updated to shoe the account as "partially satisfied" and this will remain on the credit file for 6 years from date of default.

    So great news on the above but just one thing, they didn't confirm the part about they agree that the debt won't be sold on. Does the above cover this do you think?

    Thank you!


    Well done Twins!!
    Can I ask what percentage you settled at? My husband and I have two with NCO
  • heavenlyharry01
    heavenlyharry01 Posts: 128 Forumite
    First Anniversary First Post Combo Breaker
    Hi I've decided to self manage my Dmp and am trying to do the letters when I advise my creditors of my income and expenditures. Do I have to list all the creditors and the amounts I will be paying each one?? I've been on the Nedcab website and their letters show this. TIA

    Weakmoments

    Hello!
    I self manage and I used all the templates from the NEDCAB website. When I sent off my offers of payment they did include all my creditors and offers of payment
  • kb_soma
    kb_soma Posts: 270 Forumite
    First Anniversary Name Dropper Combo Breaker Debt-free and Proud!
    Hi everyone, just stopping in - lovely to see some old faces and some very new ones!

    Well done everyone - you are all doing so well!
    LBM: NOVEMBER 2011 || debt free date:30/06/15 || The Fighting Debt Army: #442 || Frugal Living Challenge 2018 || January 2018 Grocery £1.22/£100 ||
  • Weakmoments
    Weakmoments Posts: 50 Forumite
    First Anniversary
    Hi me again I've just checked my credit file boohoo. I've been on a Dmp with stepchange (now in process of self managed) since 2013. All have defaulted around this time apart from Idem previously egg. I emailed them re this and they called me today stating this is correct as in arrangement to pay. Any ideas please tia x
  • Twins
    Twins Posts: 346 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    heavenlyharry01 wrote: »
    Well done Twins!!
    Can I ask what percentage you settled at? My husband and I have two with NCO

    Thanks heavenlyharry. To be honest it was the smallest debt of the lot but I hit it first as I thought seeing one fall off would be a great motivator. The balance was £437 and they agreed to settle for £ £260. Like I said not a big amount but every penny counts at this stage :)
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