Another F&F question!!

Sapper23

hi

can you request a copy of the CCA on a debt you have been paying off.

Have a loan I defaulted on (thought I did anyway, had the letter to say its put in default, not marked as that on credit report though!)

Been paying it back through DMP. Just had a small lump sum, about 30% of the total outstanding loan, which I would like to make a F&F offer with.

Can i request the CCA, and if they cant provide it (its with a DCA), offer about 20% and bargain a little, stating they cannot provide the cca.

Or when you have been paying, are you bound to it regardless of them having the paperwork or not?

Thanks!!

Sapper23

Anyone??

Would be very much appreciated!!

handyman123_2

Hi Sapper23, Have a look on Never-in-Doubts unenforcability thread. If you are thinking of putting the account into dispute if they can't provide the CCA, you would have to stop making payments. This would show as a default and could lead to further complications. Why not just write to them asking what they would accept as an F&F at this point in time.

Hopefully this will keep you on page one where someone wiser than myself will be along with more relevant advice.
Best wishes, handyman123.

Sapper23

handyman123 wrote: »

Hi Sapper23, Have a look on Never-in-Doubts unenforcability thread. If you are thinking of putting the account into dispute if they can't provide the CCA, you would have to stop making payments. This would show as a default and could lead to further complications. Why not just write to them asking what they would accept as an F&F at this point in time.

Hopefully this will keep you on page one where someone wiser than myself will be along with more relevant advice.
Best wishes, handyman123.

Cheers, been reading through that thread, lot of info there!!

Am in a position to offer the F&F, but its only about 30%. If they accepted, I would be in a position to put my money into other debts, and be debt free within a year!

Have a feeling they wont accept F&F that low, so just been thinking of what could be done to push it in my favour

GeorgeUK

You can request a copy of the CCA at any time. Bear in mind though that in the cca is unenforcable, then you don't need to make any payment.

Sapper23

So, just to make sure I have this correct:

I can request the CCA, directly from DCA (would this affect third party DM company?)

If debt is enforcable, just continue paying at agreed rate, consider making F&F offer anyway, on grounds money is from relative to fully settle debt. If not accepted, use to clear other debts.

If debt is unenforcable, send F&F offer, pointing out the debt is unenforcable on grounds debt is shown as satisfied in full and settled on credit report

??

Thanks guys!!

GeorgeUK

Send CCA request and they have 12+2 working days to provide the CCA.
If it is enforcable, you can make the offer - the worst they can do is say no.
If it is unenforcable you can make a lesser offer and see what they are willing to give you as an incentive. They may agree to have the debt shown as satisfied in full, but usually they insis on it showing as partially settled.

On the credit report, this is okay but make sure any letter you receive does not say that the settlement is a partial or short settlement. Also make sure it states you are not liable for the remainder. There are templates available on the board if required.

This should have no bearing on the DM company - for all they know it was the creditor that approached you with the settlement offer.

Is it one of the DM companies - CCCS or Payplan?