Offer from DCA

Arfhurdaly

I got a letter from a DCA today, saying they'd accept £1 a month (debt is north of £10k), to "put my account" on hold. I defaulted about 9months ago, and havent paid the original creditor, or subsequent DCa anything since.

Is this a good offer, any downsides to it?

jockinleeds

Dont know your circumstance so cant say.
If you were unemployed for example, then yes a good offer til you get back on yer feet.
It wont go away anytime soon.
Otherwise I'd be making an effort to clear somehow.. DMP for example.

WRINKLES

Arfhurdaly wrote: »

I got a letter from a DCA today, saying they'd accept £1 a month (debt is north of £10k), to "put my account" on hold. I defaulted about 9months ago, and havent paid the original creditor, or subsequent DCa anything since.

Is this a good offer, any downsides to it?

No this offer smells funny to me , you have to give more information for us to advise you properly , what is the debt , how old is it .

Arfhurdaly

I defaulted about 9months ago on CC debt. Now with Dca's.

Dont know if its worth paying £1 a month, then a F&F down the road.

WRINKLES

Arfhurdaly wrote: »

I defaulted about 9months ago on CC debt. Now with Dca's.

Dont know if its worth paying £1 a month, then a F&F down the road.

Please answer how old is the debt

handyman123_2

WRINKLES wrote: »

Please answer how old is the debt

I agree with wrinkles something isn't right about this. If it was say for instance an old CC account taken out years ago, it may be that the original agreement was flawed and they realise this?

In order to help you need to be more specific.
Cheers, handy.

Arfhurdaly

Debt is about 8yrs old. But was paying the original creditor until 9m back.

handyman123_2

Arfhurdaly wrote: »

Debt is about 8yrs old. But was paying the original creditor until 9m back.

Hi Arfur, I wondered if the DCA had found a flaw in the original agreement.
or that if requested they will be unable to provide the CCA.

In my case I was chased for an old cc debt. The DCA offered all sorts of inducements, even offering to contribute to my payments. I think it was for each £100 I put in they would add £75.

It was only later that I realised from information I found on the unenforcability thread that the original agreement was flawed and
could not have been enforced even though it was now statute barred.

It may be worth your while to have a look at the unenforceability checker on that thread.
I hope some of this makes sense to you.
Cheers, handy.

Arfhurdaly

Thanks handyman.

I requested a cca before. I said it was unenforceable. They said it was.

So I offered a F&F of about 30% of the balance. They rejected this, and counter-offered at £1 a month.

So dont know what to do with it now?

WRINKLES

Arfhurdaly wrote: »

Thanks handyman.

I requested a cca before. I said it was unenforceable. They said it was.

So I offered a F&F of about 30% of the balance. They rejected this, and counter-offered at £1 a month.

So dont know what to do with it now?

You can bet your bottom dollar it will be unenforceable , that is why they are trying to sucker you in to paying a tiny ammount , if you pay they will start to increase their demands for more and more , can you have a look at never in doubts unenforceability thread , then post a copy of the agreement they sent , make sure you cover anything that can identify you first ,.

Arfhurdaly

Thanks wrinkles. I will look into that.