Full and final settlement help thread

fatbelly

arc2014 wrote: »

Hi all,

Just finished reading the last few pages of this thread, and I've seen that I should send off CCA requests before making any offers. Sorry if this has been asked before but how do I do this?

Thanks!

There's info and links to a standard letter here

https://www.nationaldebtline.org/EW/factsheets/Pages/getting-information/credit-agreement-advice.aspx

You don't have to do this, but it can be useful. The right to information under s77-9 Consumer Credit Act only applies to debts covered by that act, so credit cards, loans, catalogues, HP. Not overdrafts, mobile phones, utility bills.

arc2014

Thank you!

fjimmy007

Hi Everyone,

I am new to this forum , and need an expert advice on my debt issues.

I do have debt of total of 38k with 10 different creditors , including 2 loans, 7 credit cards and one store card. By checking my credit report with noddle , 8 of my debt account which has default I think since 2011 not showing at all, only one credit card account (Mbna currently with Arc) showing ccj and one account barclaycard with links showing default since 2014 .
My questions is that I am paying all of them £1 token payment since 2010 till now except mbna which i have ccj ,
What if I OFFER full and final settlement to the creditors , as i can only offer 20 percent maximum of all my unsecured debt. What are my chances , or if accepted as I mentioned 8 others accounts are not on my credit file but I am paying them £1 token payment till today.If accepted will it show to my credit file partiallly settled even they are not on my credit file I mean all these acccounts are defaulted and not on my credit file. Or if I stop paying £1 token payment , can I get ccj on all these accounts again after default passing 6 years, Please advice

sourcrates

fjimmy007 wrote: »

.
My questions is that I am paying all of them £1 token payment since 2010 till now except mbna which i have ccj ,
What if I OFFER full and final settlement to the creditors , as i can only offer 20 percent maximum of all my unsecured debt.

What are my chances , or if accepted as I mentioned 8 others accounts are not on my credit file but I am paying them £1 token payment till today.If accepted will it show to my credit file partially settled even they are not on my credit file I mean all these accounts are defaulted and not on my credit file.

Or if I stop paying £1 token payment , can I get ccj on all these accounts again after default passing 6 years, Please advice

Hi,

If they are old debts, you have a 50/50 chance of them been accepted.

If settled, and already gone from your file, the entry will not come back no.

As you have acknowledged the debts by paying the token payment, they will not become statute barred, so the creditor could still take legal action absolutely.

My opinion, before you do anything, send CCA requests to each relevant account (Please Google it if you are unsure of what CCA means) just to check they still have compliant paperwork.

Debts without legal paperwork are much more likely to settle for a smaller amount than those with paperwork.

fjimmy007

hi, my debts lists are as follows:

abbey loan 8000(Currently with Dc) robinsons
abby c/card 1300 Moorcroft
mbna -ccj 5800 not paying them (Arc)
Halifax loan 9000 westcot
Halifax c/card 1400 appro fredrickson
AMEX- aic - 590
Argos card 400 Moorcroft
Barclaycard 4300 with Links Financial
Natwest 2800
Capital one c/card with Mortimer solictors
Most of my credit card are well before 2007 for 2 loans i think I got it on may 2017 with halifax and abbey but they are defaulted and with debtor collection agency.
As i dont have any property or assest on my name and all these debts are unsecured credit . I dont have regular payment job ,. What if i offer full and final settlement offer one by one on individual basis .National debt advice online advisors advised me to go for bankruptcy which I dont really want to do. Full and final settlement if it will be accepted after all my defaulted accounts ,My credit file will not come up with partially settled account on all my defaulted accounts which currently not coming up on my credit file. By asking them for CCA as you mentioned all my accounts are with debt collection agency , do you think they have to provide me these request and will not effect me with token payment to them,

sourcrates

fjimmy007 wrote: »

By asking them for CCA as you mentioned all my accounts are with debt collection agency , do you think they have to provide me these request and will not effect me with token payment to them,

Creditors cannot pick an choose which parts of the consumer credit act they comply with, and which they don’t, it is there for your protection, and theirs.

They must comply with every section that applies to their business, sec 77/79 is a request for information about your account, they must provide a legible copy, of your credit agreement, on request, and on payment of the £1 statutory fee.

The only pre-requisite is that a balance must still remain on the account, this applies to original creditors, debt collectors, or debt purchaser, they all must comply, or the account cannot be enforced through the courts.

fjimmy007

Hi ,
Do you know CCA request format from any links if you have please send link to me also can i send cheque for 1 pounds each, does it also apply for ccj account as i did not receive any ccj on my current living address . thanks

sourcrates

fjimmy007 wrote: »

Hi ,
Do you know CCA request format from any links if you have please send link to me also can i send cheque for 1 pounds each, does it also apply for ccj account as i did not receive any ccj on my current living address . thanks

Template letter here :

https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx

Can’t use on any account legal action has been taken on, also does not apply to overdraft, or mobile contract service agreements.

Yes send a cheque if you have them still.

fatbelly

I posted a link a few posts ago.

Yes you could send a cheque but we don't recommend it - we recommend a postal order

No it would not apply to an account with a ccj - the unenforceability element would not apply - but you can still make a settlement offer

David848435

Hello,

What would a settlement offer with CCJ entail?
I have two which I would like to get rid of.