DCA - F&F, Not on Credit Report

Newtonlaw

I'm wondering if you can help me…I have 2 queries but I'll split them up
Firstly….
I got my self into some financial trouble going through an auful divorce. I had a ccard that was passed over to a DCA, I think it's now been sold on 2 or 3 times over the 4 years or so….My son is now in a position to help me which is great and he can pay it off and he'll get the money back once my house is sold.
Thing is, Ive been paying £50 a month on a current balance (So they say of 5700), I'm hoping to offer a full & Final settlement to be rid of it.
Now my son & I signed up to Experian & Equifax to hopefully see the balance as we were a little curious why it was so high when I have been paying these £50 payments for a long time, I couldn't find it on either reports at all. Is there a reason for this ? And could the debt of been scrapped and I'm paying it when I shouldn't be (Wishful thinking, but just curious why it wasn't there!)
I need advice on my next steps, I have read that these DCAs take smaller payoffs depending on "how old the debt is?", "How many times it's been sold on?, "How cheaply they bought it?", "How close they are to the 6 years of being defaulted"
Should I stop paying it for a few months allowing them to accept the F&F once It's offered (It could help me pay it off cheaper) or….
Should I not pay it at all as it's not on my credit report? (Bearing in mind I have been paying it off for a long time therefore have already admitted the debt)
Many thanks in advance for your help, This stuff is just so confusing!!!!!?!!! Oh I should state I am in scotland



Second issue please see separate post

Tixy

Hi

As its not on your credit report then its likely that you defaulted on it over 6years ago. Does that sound right? Basically 6years after the original default the debt no longer appears. But unfortunately it doesn't mean its been written off or that you don't need to pay.

Because you have been paying regularly there is no chance of this debt being statute barred (thats when there has been no payments for 5years and you haven't written to them regarding the debt for 6years and if there is no CCJ). In Scotland once its statute barred then it would be effectively written off (extinguished as they call it).

Where is the £5700 balance from? is that from the current DCA and was it written recently?
You could write to them and ask them for a full breakdown of the balance to check it looks right. Then once you have that could make a full & final settlement offer. I'd start at something like 20% of the balance. You can always go up if they won't accept. There is a great factsheet on national debtline scotland website about F&Fs.

One other thing you could decide to try would be to write for a copy of the original CCA - consumer credit agreement. If they couldn't find it, which is quite likely after all this time then you could argue that the debt is unenforceable and stop paying until they can locate it or could decide to offer a very low F&F to get rid of them altogether. If you want to look at this route then there are a number of topics of the subject of unenforceability.

PNPSUKNET

Another reason could be it was taken out before 2004, some banks at that time didnt ask for permission to report to cras

Newtonlaw

Ah thanks for your help so far, yes im sure it's pre 2004...
If im honest I only think it defaulted 4 years ago, my sons been married 5 years so im certain it wasn't before then..
The 5700 is from the current DCA and is from a recent letter they sent to me reminding me my payment is due, Im still in 2 minds weather to pay this month as im going to try and settle it as cheaply as possible.
Ive had a little read about the unforeability route, It seems a viable option, Im am hoping to get this paid and out of my life however...Just trying to find the best way to do it at the minute.