Accounts With Defaults - which one to pay first

double_mummy

nope default doesnt matter its when you are near to 6 years from your last payment they will go for a CCJ

do the CCA request then they will give you a better settlement discount

stop paying them after the 12 days and then personally i would do the smaller ones first giving it more time not paying the larger ones for them to accept a smaller off

the next and barclaycard ones will not come off of your credit file until 6 years after they default or the last marker is placed upon them - if they are not defaulted you are still getting markers which means they wont be off of your credit file for at least 6 years from now

the ones that are off of your credit file soon dont really matter - i would be asking bcard and next why they havent defaulted you or just try and clear them as quickly as humanly possible to get those 6 years ticking so they will get off your file ASAP

mistertml

double_mummy wrote: »

nope default doesnt matter its when you are near to 6 years from your last payment they will go for a CCJ

the next and barclaycard ones will not come off of your credit file until 6 years after they default or the last marker is placed upon them - if they are not defaulted you are still getting markers which means they wont be off of your credit file for at least 6 years from now

the ones that are off of your credit file soon dont really matter - i would be asking bcard and next why they havent defaulted you or just try and clear them as quickly as humanly possible to get those 6 years ticking so they will get off your file ASAP

Thanks

Sorry but I may just be being a bit dim.

I pay Barclaycard and Next as priority before they default!

The ones with deafult near the end will go for CCJ so try and pay them off also? So I can put the Barclays loan on back burner?

And also get the CCA?

Am I right with the above?

Sorry but its been a lon weekend.

double_mummy

okay will break this down for you

step 1 - send a CCA letter along with the £1 postal order to each of your creditors
step 2 - after 12 working days stop making payments to any that have not sent through your credit agreement
step 3 - save the money you are not paying to creditors
step 4 - wait for responses from your creditors
step 5 - after 3 months offer all of your creditors 10% as a full and final settlement (you should have saved £450 by then) - pay any that accept
step 6 - wait another couple of months then offer 15% advise in this letter that this is your final offer as their debt is unenforcable and that you will enter into no further communications with them other to complete the payment of the settlement
step 7 - pay all who agree
step 8 - ignore the rest for 6 years or until they produce the credit agreement
step 9 - if any produce the agreement get it checked to confirm that it is enforcable
step 10 - write back and tell them why it isnt enforcable
repeat step 8

mistertml

double_mummy wrote: »

okay will break this down for you

step 1 - send a CCA letter along with the £1 postal order to each of your creditors
step 2 - after 12 working days stop making payments to any that have not sent through your credit agreement
step 3 - save the money you are not paying to creditors
step 4 - wait for responses from your creditors
step 5 - after 3 months offer all of your creditors 10% as a full and final settlement (you should have saved £450 by then) - pay any that accept
step 6 - wait another couple of months then offer 15% advise in this letter that this is your final offer as their debt is unenforcable and that you will enter into no further communications with them other to complete the payment of the settlement
step 7 - pay all who agree
step 8 - ignore the rest for 6 years or until they produce the credit agreement
step 9 - if any produce the agreement get it checked to confirm that it is enforcable
step 10 - write back and tell them why it isnt enforcable
repeat step 8

Hi
Thanks for the breakdown. (its more idiot proof now)

I have just checked Noddle. Both Next and and Barclaycard are showing as AR Arrangement to pay.

Not sure how this affects the file.

Thanks
T

double_mummy

AR means that you either need to pay it off or get them to default it for the 6 years before it comes off of your credit file to start

with those you may have a chance writing to them and asking them to back date the default to when you were no longer paying your contractual obligations - theres a chance of getting it off of your file a bit sooner that way

mistertml

double_mummy wrote: »

AR means that you either need to pay it off or get them to default it for the 6 years before it comes off of your credit file to start

with those you may have a chance writing to them and asking them to back date the default to when you were no longer paying your contractual obligations - theres a chance of getting it off of your file a bit sooner that way

Thanks

One last thing (for now)

I was hoping to pay barclays off this month. Should I hold off for now until the CCA info comes back to me?

Thanks

happy_bunny_2

Yep, complain in writing that the 2 AR accounts should have defaulted by now see what comes back.

Good luck

HB

double_mummy

i would sort out the deafult on there before paying it off as well as the CCA personally but you can clear it if thats what you would prefer but they may be less inclined to do something about it if the debt is all cleared off

mistertml

double_mummy wrote: »

i would sort out the deafult on there before paying it off as well as the CCA personally but you can clear it if thats what you would prefer but they may be less inclined to do something about it if the debt is all cleared off

Thanks again

I'll do get the CCA letters sent out first. I have a couple with DCAs Hfx - Idem, Hfx - Marlin and Vanquish - Moorcroft. I take it I still write to the original creditor as they should have the agreements. And then forward the letters to the respective DCAs

Thanks

double_mummy

send them to the debt collection agencies - who ever is contacting you / you are paying

make sure to sign the letter with a font not your actual signature

keep the recorded delivery slip with a copy of the letter date of delivery is day 0 after 12 WORKING DAYS stop making any payments and put them into savings instead