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I have sent out reduced payment letters and need some help!

2

Comments

  • yogibear999
    yogibear999 Posts: 17 Forumite
    10past6 - Wow! You really know your stuff! I will keep those letter templates for future reference! ;)
  • 10past6
    10past6 Posts: 4,962 Forumite
    yogibear999 wrote: »
    Surely by taking on the agreement, I am liable for it?? Sorry, it's the end of the day!!
    Providing the agreement meets with the correct legislation, yes, this gives them the right to collect, however, if the agreement falls down on any one of the prescribed terms, then the agreement becomes unenforceable, meaning they'll throw their dummy out of the pram again :p :rotfl:

    And whist it remains unenforceable, you're under NO legal obligation to pay :eek: :D
    Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.

    All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional
  • yogibear999
    yogibear999 Posts: 17 Forumite
    Oh ok, I see! :rotfl::rotfl:So is it worth getting a copy from each creditor, or should I wait and see what happens?
  • 10past6
    10past6 Posts: 4,962 Forumite
    Always try and keep one step ahead, make the CCA request asap.

    If, for whatever reason they're unable to produce the agreement, this puts you in a stronger position, i.e. you can negotiate paying the debt back on YOUR terms, and not there's ;)
    Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.

    All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional
  • yogibear999
    yogibear999 Posts: 17 Forumite
    Right, that's my next plan of action then! Thanks for your help 10past6!
  • yogibear999
    yogibear999 Posts: 17 Forumite
    Sorry, another question! Should I send them recorded delivery? I'm guessing yes and panicking about the amount it's going to cost!! :eek:
  • scouselad1974
    scouselad1974 Posts: 655 Forumite
    I also understand 100% where you are coming from, I to tried to get reduced payments in place before my next payment was due, a couple of my creditors set up plans within a few weeks, but the rest wouldn't accept reduced payments until I had missed a few payments, so in the end I opted for a DMP with National Debtline/CCCS
    DMP mutual support thread member:327
  • 10past6
    10past6 Posts: 4,962 Forumite
    yogibear999 wrote: »
    Should I send them recorded delivery?
    Yes, if possible, use postal orders, write on the reverse of the postal order "CCA Request" and take a photocopy, some creditors use the fee as a payment to the account :rolleyes:

    To send RD costs £1.08 per RD.
    Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.

    All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional
  • yogibear999
    yogibear999 Posts: 17 Forumite
    10past6 wrote: »
    Yes, if possible, use postal orders, write on the reverse of the postal order "CCA Request" and take a photocopy, some creditors use the fee as a payment to the account :rolleyes:

    Why am I not suprised! We need to send around 10 letters, so it's going to cost a bit! Still, as you said it's better to be one step ahead. That's a project for my day off on Friday! :T
  • yogibear999
    yogibear999 Posts: 17 Forumite
    Scouselad - Sorry I missed your reply there for a minute! Thanks for sharing your experience, it seems that's the way it goes. Some of my creditors have accepted immediately, others are completely ignoring me right now! How quickly did cccs get your DMP set up?
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