Full and final settlement help thread

Debfro

Hi thank you for replying. No after my husband died I paid a debt collector £20 a month until 2015 when I gave up work when my eldest son died and my autistic second eldest son tried to commit suicide. I will not work again and live with my parents so trying to sort it.

fatbelly

Debfro wrote: »

Cabot has come back to say my Egg credit card was taken out in 2000 with my email address and was paid until 2010.

As it was an online application and acceptance they have no paperwork just statements of the account.

From what you say, your first argument (unenforceable under s5 Limitation Act 1980) may fail but it's still worth making if they have said it was only paid until 2010.

The second argument is stronger, as s127(3) CCA existed until April 2007, requiring a signature. It was only for agreements made online after December 2004 that the Consumer Credit (Electronic Communications) Regulations 2004 allowed the signature in the signature box to be replaced by a tick box.

s127(3) says 'The court shall not make an enforcement order under Section 65(1) if Section 61(1)(a) (signing of agreements) was not complied with unless a document (whether or not in the prescribed form and complying with regulations under Section 60(1)) itself containing all the prescribed terms of the agreement was signed by the debtor or hirer...'

Given that ultimately only a court could declare an agreement unenforceable and you are in a generous mood you could use the National Debtline standard letter (headed 'without prejudice') to make a F&F offer of 10% - take it or leave it.

Debfro

Thank you I will try that. It was National Debtline web chat that told me as they had sent an agreement I had to pay it and to make an offer. It wasn't until I saw some things on here I began to doubt the advice They don't seem to understand that paying a pound a month for life is pointless and the debt collectors will harass me to increase it all the time as that is what they did when I was working.

fatbelly

Debfro wrote: »

Thank you I will try that. It was National Debtline web chat that told me as they had sent an agreement I had to pay it and to make an offer. It wasn't until I saw some things on here I began to doubt the advice They don't seem to understand that paying a pound a month for life is pointless and the debt collectors will harass me to increase it all the time as that is what they did when I was working.

I've set out my thoughts on £1 token offers in other posts. I agree with you and sometimes wonder where the debt charities are coming from. Having said that, NDL are usually pretty good.

nextyeartina

Last June I offered 1st Credit 30% of my debt but they refused and came back with an offer of 80%. I'm ready to try again. Where do I start?


TIA

DrWatson1

Does last June mean last month, or 13 months ago?

I guess either way, I would just up it to 40% and see how they respond. However, I'd guess you have less chance of success if you only contacted them last month, as it might appear you are eager to settle.

nextyeartina

Sorry, I meant June 2016. I will try 40%. Thank you

DrWatson1

Last September, I CCA'd my creditors. One of my creditors sent through what was basically an application form, and so (in my opinion) did not comply with the request as several of the prescribed terms were missing.

I wrote to them pointing this out, and they basically said that they thought it did comply and if I disagreed I should write to the ombudsman, which I failed to do within the 6 month period.

What's my best play with this account moving forward? I'm paying £5pm on a £4500 debt, and in the interim offered them 10% as an F&F settlement, which they refused.

fatbelly

DrWatson1 wrote: »

Last September, I CCA'd my creditors. One of my creditors sent through what was basically an application form, and so (in my opinion) did not comply with the request as several of the prescribed terms were missing.

I wrote to them pointing this out, and they basically said that they thought it did comply and if I disagreed I should write to the ombudsman, which I failed to do within the 6 month period.

What's my best play with this account moving forward? I'm paying £5pm on a £4500 debt, and in the interim offered them 10% as an F&F settlement, which they refused.

If you believed it was unenforceable you could have (still could) stop paying.

Ultimately only a court can determine enforceability, not the FOS. See if they are confident enough in their paperwork to do it.

[Deleted User]

DrWatson1 wrote: »

Last September, I CCA'd my creditors. One of my creditors sent through what was basically an application form, and so (in my opinion) did not comply with the request as several of the prescribed terms were missing.

I wrote to them pointing this out, and they basically said that they thought it did comply and if I disagreed I should write to the ombudsman, which I failed to do within the 6 month period.

What's my best play with this account moving forward? I'm paying £5pm on a £4500 debt, and in the interim offered them 10% as an F&F settlement, which they refused.

I hope things work out for you. Good Luck:beer:

Sorry to be obtuse but I'm totally baffled by these 'Prescribed Terms' that people keep mentioning:o. How did you know that several of the terms were missing please? What do we need to look out for? I've read all sorts of threads and help pages but the jargon and legal-speak just confuse me further.