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  • FIRST POST
    • shaun196809
    • By shaun196809 19th Apr 17, 10:25 PM
    • 22Posts
    • 7Thanks
    shaun196809
    Requesting Settlement figure with PRA Group
    • #1
    • 19th Apr 17, 10:25 PM
    Requesting Settlement figure with PRA Group 19th Apr 17 at 10:25 PM
    Good Evening Everyone!

    This is my first post so new to this!!

    I've had a debt management plan for the past 9 years and currently have 4 creditors with an outstanding debt of around £42k.

    Over the past week I have been requesting a full settlement figure and so far had two responses from creditors willing to accept 40% of the original figure.

    However, PRA Group will only give a 20% reduction which I was slightly surprised as the debt is over 8 years old and still £9k outstanding. I have written and spoke to them today by phone but no movement.

    I was left a small amount of money following a family bereavement.

    Any suggestions or do I have to keep paying through my DMP and try again in 6 months?

    Many thanks
    Shaun
Page 2
    • shaun196809
    • By shaun196809 18th May 17, 1:01 AM
    • 22 Posts
    • 7 Thanks
    shaun196809
    Hi,

    So I've had a response from PRA who are saying the debt is unenforceable until they seek further documentation.

    So is now the time to go and negotiate a 10% F and F? Did you call or write a letter?

    Many thanks.
    • shaun196809
    • By shaun196809 18th May 17, 1:04 AM
    • 22 Posts
    • 7 Thanks
    shaun196809
    Hi,

    So I've had a response from PRA who are saying the debt is unenforceable until they seek further documentation.

    So is now the time to go and negotiate a 10% F and F? Did you call or write a letter?

    Many thanks.
    Originally posted by shaun196809
    Hi Shaun, one of the letters came back within about 3 weeks and the second took a bit longer around 4 weeks. I think the longer they take indicates that they are finding it difficult to locate, just my thinking anyway. I'm still waiting on 2 other creditors to respond on the CCA request so fingers crossed they are unenforceable too!
    Originally posted by Twins

    Hi,

    So I've had a response from PRA who are saying the debt is unenforceable until they seek further documentation.

    So is now the time to go and negotiate a 10% F and F? Did you call or write a letter?

    Many thanks.
    • fatbelly
    • By fatbelly 18th May 17, 6:19 AM
    • 11,082 Posts
    • 8,260 Thanks
    fatbelly
    Hi,

    So I've had a response from PRA who are saying the debt is unenforceable until they seek further documentation.

    So is now the time to go and negotiate a 10% F and F? Did you call or write a letter?

    Many thanks.
    Originally posted by shaun196809
    I would say yes.

    Do it in writing.

    You could wait to see if they come up with a compliant agreement, and if they can't, walk away. But there's always a risk that they might find one.
    • January2015
    • By January2015 18th May 17, 8:06 AM
    • 1,733 Posts
    • 4,679 Thanks
    January2015
    Hi,

    So I've had a response from PRA who are saying the debt is unenforceable until they seek further documentation.

    So is now the time to go and negotiate a 10% F and F? Did you call or write a letter?

    Many thanks.
    Originally posted by shaun196809
    If PRA don't accept your offer of 10% then just stop corresponding with them and stop all payments.

    We ignored them for a year before they eventually wrote to us and agreed they would accept 10%. We chose to accept their very {un}gracious offer
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    Xmas 2017 £1 p/day challenge No. 20 - £420/£730
    Make £10 p/day Feb £74.31, Mar £664.37 Apr £40
    • shaun196809
    • By shaun196809 19th May 17, 7:14 PM
    • 22 Posts
    • 7 Thanks
    shaun196809
    Had a response from Capital One and had it checked by someone who said that the credit agreement has "Missing PT's".

    The letter I received from Capital One did say my agreement was enforceable and that I had copy of my terms of my original agreement when I signed back in 2005.

    Whats my chance of getting them to agree on 10% stating that there are missing PT's?

    Thanks.
    • alianza
    • By alianza 19th May 17, 8:35 PM
    • 26 Posts
    • 29 Thanks
    alianza
    missing PT sounds similar to my case where they did send something but it referred to other clauses that they did not send so basically incomplete and apparently unenforceable. When I told PRA it was in my expert's opinion unenforceable they passed it to their in house 'impartial' dispute department who surprise surprise said it was enforceable. I have since ignored all subsequent letters and will wait it out and see how seriously they believe it is enforceable.
    • fatbelly
    • By fatbelly 22nd May 17, 3:41 PM
    • 11,082 Posts
    • 8,260 Thanks
    fatbelly
    Had a response from Capital One and had it checked by someone who said that the credit agreement has "Missing PT's".

    The letter I received from Capital One did say my agreement was enforceable and that I had copy of my terms of my original agreement when I signed back in 2005.

    Whats my chance of getting them to agree on 10% stating that there are missing PT's?

    Thanks.
    Originally posted by shaun196809
    Prescribed terms are essential to a valid agreement. They ought to consider themselves lucky you are offering 10%
    • sourcrates
    • By sourcrates 22nd May 17, 4:01 PM
    • 11,577 Posts
    • 11,151 Thanks
    sourcrates
    Had a response from Capital One and had it checked by someone who said that the credit agreement has "Missing PT's".

    Whats my chance of getting them to agree on 10% stating that there are missing PT's?

    Thanks.
    Originally posted by shaun196809
    Depends if they roll over or still insist its enforceable.

    If they stick to there guns, i doubt they'll settle at 10%, but if they roll over and admit defeat, then they may do.

    If they refuse your offer, that would be the point to walk away for me.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 22nd May 17, 6:48 PM
    • 11,082 Posts
    • 8,260 Thanks
    fatbelly
    I agree

    It could be very expensive for them to try a claim on an agreement that they had already admitted did not contain the prescribed terms.

    HFO tried it on an unenforceable Barclaycard agreement and it cost them 10k!

    http://www.bailii.org/ew/cases/Misc/2012/19.html
    • Jm90
    • By Jm90 22nd May 17, 10:50 PM
    • 34 Posts
    • 18 Thanks
    Jm90
    Hi there hope it's ok if I ask a question.

    Me and my husband each have various debts all of these have been sold on to places such as lowell. Do they still need to provide all of the relevant paper work?

    Also if it turns out that a debt is not enforceable but you then pay 10% would it still show as only partly settled. Many thanks.
    • fatbelly
    • By fatbelly 23rd May 17, 5:21 PM
    • 11,082 Posts
    • 8,260 Thanks
    fatbelly
    Hi there hope it's ok if I ask a question.

    Me and my husband each have various debts all of these have been sold on to places such as lowell. Do they still need to provide all of the relevant paper work?

    Also if it turns out that a debt is not enforceable but you then pay 10% would it still show as only partly settled. Many thanks.
    Originally posted by Jm90
    Yes that's fine - the first 5 posts on this thread set out the principles
    • bilko89
    • By bilko89 23rd May 17, 9:07 PM
    • 116 Posts
    • 260 Thanks
    bilko89
    Hi, sorry to jump in your thread OP but will an email suffice for the CCA request, or do you need to send the letter in writing/type and send via mail? I have 3 old accounts which have been passed around a few times, with my 50% F&F offers completely rebuffed.
    SPC10 #560
    • fatbelly
    • By fatbelly 23rd May 17, 9:13 PM
    • 11,082 Posts
    • 8,260 Thanks
    fatbelly
    The link in post 4 gives a template for the letter and the requirement for a £1 fee - use old-fashioned mail
    • shaun196809
    • By shaun196809 30th May 17, 7:42 PM
    • 22 Posts
    • 7 Thanks
    shaun196809
    Hi there,

    The saga continues!!

    Gutted, PRA have come back today to state that they were not willing to accept my offer of 10% but only 80%. They believe they provided a copy of my credit agreement.

    My previous letter stated that they were still awaiting documentation and deemed the debt as unenforceable.

    Advice on next steps? Tell them that I have now removed them from my DMP and will not discuss any further unless they provide sufficient details? And my offer of 10% still stands.

    Thanks.
    • glentoran99
    • By glentoran99 30th May 17, 7:52 PM
    • 4,409 Posts
    • 3,297 Thanks
    glentoran99
    Hi there,

    The saga continues!!

    Gutted, PRA have come back today to state that they were not willing to accept my offer of 10% but only 80%. They believe they provided a copy of my credit agreement.

    My previous letter stated that they were still awaiting documentation and deemed the debt as unenforceable.

    Advice on next steps? Tell them that I have now removed them from my DMP and will not discuss any further unless they provide sufficient details? And my offer of 10% still stands.

    Thanks.
    Originally posted by shaun196809

    Sounds very familiar, wouldn't budge on 80% for me and never produced an agreement, I was stuck though as I was getting a mortgage in the near future and needed it cleared
    • shaun196809
    • By shaun196809 30th May 17, 7:56 PM
    • 22 Posts
    • 7 Thanks
    shaun196809
    Sounds very familiar, wouldn't budge on 80% for me and never produced an agreement, I was stuck though as I was getting a mortgage in the near future and needed it cleared
    Originally posted by glentoran99
    Thats disappointing especially as these debts no longer feature on my credit file - over 9 years old. Worried that another debt agency might pick it up and raise a default.
    • fatbelly
    • By fatbelly 30th May 17, 8:49 PM
    • 11,082 Posts
    • 8,260 Thanks
    fatbelly
    Hi Tell them that I have now removed them from my DMP and will not discuss any further unless they provide sufficient details? And my offer of 10% still stands.
    Originally posted by shaun196809
    That sounds like a plan.

    A fresh default should not happen - it would be against ICO guidance.

    Keep an eye on your files though.
    • glentoran99
    • By glentoran99 31st May 17, 8:29 AM
    • 4,409 Posts
    • 3,297 Thanks
    glentoran99
    Thats disappointing especially as these debts no longer feature on my credit file - over 9 years old. Worried that another debt agency might pick it up and raise a default.
    Originally posted by shaun196809


    Has it already been defaulted? presume so if PRA have it


    If defaulted, Nothing on Credit file, No agreement, Tell them to take a running jump


    If someone else is foolish enough to buy it you simply tell them its unenforcable and ignore them too
    • shaun196809
    • By shaun196809 31st May 17, 8:45 AM
    • 22 Posts
    • 7 Thanks
    shaun196809
    Thanks for the response - just what I wanted to hear!!!

    And yes, it had defaulted but now clear.



    Has it already been defaulted? presume so if PRA have it


    If defaulted, Nothing on Credit file, No agreement, Tell them to take a running jump


    If someone else is foolish enough to buy it you simply tell them its unenforcable and ignore them too
    Originally posted by glentoran99
    • glentoran99
    • By glentoran99 31st May 17, 8:50 AM
    • 4,409 Posts
    • 3,297 Thanks
    glentoran99
    Thanks for the response - just what I wanted to hear!!!

    And yes, it had defaulted but now clear.
    Originally posted by shaun196809


    The same debt cant be defaulted twice so it cant be reappearing on your credit file, Unless they get a CCJ which they couldn't do without an enforceable agreement.
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