Full and final settlement help thread

Little_Miss_Sunshine

Both my mbna are unenforceable. £22k and £7k. I'm very lucky. Both were from the early 90's

marzom

sourcrates wrote: »

Ah ha, your chances of success have just expanded exponentially !!
Yes a CCA request is what you have described above, and with older debts especially, should be done as a matter of course.

Creditors are only obliged to keep paperwork 6 years, so the chances of them still having it 20 years later, is quiet slim, not impossible, but slim.

That should be your next move, send an official CCA request to each relevant debt, include a £1 postal order with each one, which is the statutory fee required by the consumer credit act, the National Debtline website has a very good template letter to use for this purpose.


If they cannot supply what there supposed to, for each account, then that account becomes, potentially unenforceable in court, so they would possibly be more open to a low offer to settle, or you could just stop paying and walk away.

Sit back and see what they come back to you with, post back if you need further advice, expect to wait up to 2 months for a proper response though.

Fantastic! I will give it a go. I too have the same question as another poster, who do I send the request to, the original creditor or the new one. I am guessing the new one as this is why they find it harder to get the paperwork?

sourcrates

marzom wrote: »

Fantastic! I will give it a go. I too have the same question as another poster, who do I send the request to, the original creditor or the new one. I am guessing the new one as this is why they find it harder to get the paperwork?

Correct, they will have to refer back to the original creditor, which is why it takes a little time to compile the paperwork !!!

sourcrates

carbootcrazy wrote: »

sourcrates, that's really useful advice which will help a lot of us, not just the poster you aimed it at. Thanks:T

Just a quick query. Should we send our CCA requests to the original creditor (in my case MBNA) or the company (Link)now dealing with it who I assume it has been 'sold on to' please?. These are debts originating from the 1990s.

Whoever is writing to you now, they will have to refer back to the original creditor, good luck with it !!!

[Deleted User]

Little_Miss_Sunshine wrote: »

Both my mbna are unenforceable. £22k and £7k. I'm very lucky. Both were from the early 90's

If you don't mind my asking:o, what have you done about them, Little Miss_Sunshine? You say you are lucky, have you stopped paying them altogether? Or have you managed to negotiate a really good F&F deal with them?

Little_Miss_Sunshine

carbootcrazy wrote: »

If you don't mind my asking:o, what have you done about them, Little Miss_Sunshine? You say you are lucky, have you stopped paying them altogether? Or have you managed to negotiate a really good F&F deal with them?

I don't mind at all. I've not paid anything since I had the letters saying they were unenforceable but please pay. I've heard nothing at all other than a monthly statement. They haven't being sold on or defaulted.
I won't offer F&fs. I know many won't agree but that's our decision and legally we are entitled to do it.

Interestingly my CCA request for BOS - despite 2 reminders - hasn't being sent. I'm not paying that either. Although that has defaulted.

zenshi

Little_Miss_Sunshine wrote: »

Interestingly my CCA request for BOS - despite 2 reminders - hasn't being sent. I'm not paying that either. Although that has defaulted.

How long since the CCA were sent? And that you haven't paid? Have they started pestering yet?

Reason I ask is I've not had a reply re CCA either yet from them but am loathe to rock the boat and stop paying as its a very small amount and they also hold my mortgage account.....

sourcrates

Little_Miss_Sunshine wrote: »

I don't mind at all. I've not paid anything since I had the letters saying they were unenforceable but please pay. I've heard nothing at all other than a monthly statement. They haven't being sold on or defaulted.
I won't offer F&fs. I know many won't agree but that's our decision and legally we are entitled to do it.

Interestingly my CCA request for BOS - despite 2 reminders - hasn't being sent. I'm not paying that either. Although that has defaulted.

One of my accounts could not produce the CCA, it was an old bank of Scotland card, after a few weeks they sold it to Cabot, who then started pestering me.

I wrote one letter stating that my CCA request had not been complied with, as BOS could not provide the CCA, Cabot replied saying they were looking into it, the very next day another letter arrived saying the account had been closed and returned to BOS.

That was 2012, I've heard nothing since.

[Deleted User]

Thanks very much Little Miss S and sourcrates:T

Both of my MBNA accounts (now with Link) were defaulted about 3 years ago by MBNA themselves pretty much as soon as I embarked on my Stepchange DMP:j.

I'm just wondering if a default combined with any subsequent failure to produce information requested under CCA is an even better bargaining tool for F&Fs? I just feel so uneasy about ignoring the debt and walking away from it entirely should the CCA info not be able to be provided. I'm just a total wimp:o

Little_Miss_Sunshine

Maybe leave those debts till last and see how you feel then. You shouldn't feel guilty - it's just a process and the law is there to protect both sides.