Full and final settlement help thread

stu12345_2

if you feel worried ( no need to be worried)keep up your payments😅 until you hear back from them, then take it from there, write back here to what response they gave you.

thus you are still keeping up your side of the repayment deal in the meantime 
remember to enclose a £1 cheque or postal order, they return it, they never cash it

sourcrates

TiredCat said:

Thank you stu12345_2. Makes sense I'm just worried about the fallout I think but I know what you are saying 🙂

Do you think you will be somehow punished for exercising your statutory rights?

You have been in a DMP for 20 years, and you are worried about how they will react?

They should be worried about you taking on such an obligation, 20 years is about 14 years too long for a DMP, this should have been wrapped up years ago, paying nothing for 6 years would have seen them statute barred over a decade ago, lets see if we can extricate you from this mess.

First point of call, send the CCA`s, there is no requirement to make any payment whilst CCA requests are outstanding, essentially you have potentially been paying money to these debts for years that the creditors have had no legal right to as they have not provided proof of liability before.

I would put money on non of them being able to find anything like correct paperwork after 20 years, you could just walk away from this if that`s the case.

TiredCat

Thank you so much sourcrates and stu12345_2  I am feeling much better about this now and feel I can face it. I think I have been worrying for far too long and putting it off thinking about worse case scenario and not wanting to rock the boat. Thank you again 🙂

TiredCat

A quick Q.... If they have the CCA what's the worst that can happen? Can they take me to court if I am still paying them? I don't thi k I will stop paying them until I know they haven't got the CCA. Thank you

sourcrates

TiredCat said:

A quick Q.... If they have the CCA what's the worst that can happen? Can they take me to court if I am still paying them? I don't thi k I will stop paying them until I know they haven't got the CCA. Thank you

For the avoidance  of any doubt, without a copy of the credit agreement, they cannot enforce their rights in court, so they can`t do anything, nada, nothing, zilch.

Stop thinking about court, its never going to happen, your way overthinking what is essentially a very simple and often used section of the consumer credit act.

In fact once a request is made, the lender has, to conform to the CCA, put your account "on hold" until the request is actioned one way or another, you do not have to pay anything whilst this is in progress, but that is up to you.

TiredCat

Thanks sourcrates, you can see why I've taken so long to take the leap 🙄
Thanks again I will definately now be requesting the CCAs 🙂
Love this site, so many helpful souls 😍

sourcrates

Just be aware it may take a good few months before any responses arrive, some may not even respond.

Keep us updated and we can steer you in the right direction.

TiredCat

Will do, I think that was what was scaring me.... The unknown! 🤭 Which was why I thought if I offered a F&F they would respond quicker and hopefully go away quicker. I will send off in the week and let you know, what happens 👍

zeroms2024

Good afternoon all,

I'm new here, 45 year old in debt, and worried... if anyone could give me some advice I would be really grateful.

I am currently on a DMP with Stepchange (2 years in) after a horrific divorce, losing my home, my children and taking on alot of debt in the process, some marital and some fighting my ex wife for shared custody of my children, which I now have. The debts are around 5 years old and are all defaulted.

I have 3 creditors with Moorcroft.
MBNA 13k
Santander 6.5k
Lloyds Link 900

I also have 1 creditor with Capital Resolve 
Sainsburys 14k

The total just shy of £35k, I am currently paying £91 per month towards all of these, with a debt free date of 2055.

My partner has offered to help and has £11k that they could potentially share, where do I start please? I really can't talk to them on the phone as I end up breaking down, mentally this has ruined me.

Thanks in advance

fatbelly

zeroms2024 said:

Good afternoon all,

I'm new here, 45 year old in debt, and worried... if anyone could give me some advice I would be really grateful.

I am currently on a DMP with Stepchange (2 years in) after a horrific divorce, losing my home, my children and taking on alot of debt in the process, some marital and some fighting my ex wife for shared custody of my children, which I now have. The debts are around 5 years old and are all defaulted.

I have 3 creditors with Moorcroft.
MBNA 13k
Santander 6.5k
Lloyds Link 900

I also have 1 creditor with Capital Resolve 
Sainsburys 14k

The total just shy of £35k, I am currently paying £91 per month towards all of these, with a debt free date of 2055.

My partner has offered to help and has £11k that they could potentially share, where do I start please? I really can't talk to them on the phone as I end up breaking down, mentally this has ruined me.

Thanks in advance

A 30-year dmp is too long unless there really is no other strategy. I wonder if stepchange set this up before you lost the house and whether they should review it.

Do you own property now?

Have you done cca requests on these? I think that's where I'd start but you can't do them on overdraft debts or if there is already a ccj.