Annual Payments?

swampduck

If I come to an agreement to pay a debt at one pound per month to a debt collector - can I then pay 12 pound annually in one payment?

Swampy

lee111s

I would doubt it.

National_Debtline

It would be very unusual for a debt collector to agree to this because they will normally want to review your situation every 6 months (or so) to check whether things have improved.


Laura
@natdebtline

HappyMJ

swampduck wrote: »

If I come to an agreement to pay a debt at one pound per month to a debt collector - can I then pay 12 pound annually in one payment?

Swampy

Even though you have £12 in the bank you need to be paying monthly to hold off further collection action for the time being.

sourcrates

swampduck wrote: »

If I come to an agreement to pay a debt at one pound per month to a debt collector - can I then pay 12 pound annually in one payment?

Swampy

No, is the short answer, it doesn't work like that, although it seems entirely reasonable to me lol !!


They will want to know that your paying as much as you can, so, as others have said, would want to check your income/expenditure, on a regular basis, however, you don't have to tell them squat, if you don't want to, its up to you how much information you divulge to a DCA.

swampduck

These guys are mega annoying me and the awkward little brat in me wants to make life a little more difficult for them.:shhh:
They have refused my offers of full and final settlement - I tried 10% of the balance - they bounced back with 10% off the whole balance. I went back with a third of the balance and they responded with 50%. Which is still more than I want to pay :mad:
As the balance is an old defaulted balance which has now been cleared off my credit file under the six year rule - I've basically told them not to bother me except by email and I will take 27 years to pay it off!! The total sum owed is #330 but I can't be bothered with it or them anymore! Hence my question about annual payments!
Can you tell I had a bad day at the office last week?:doh:


Swampy

fatbelly

swampduck wrote: »

These guys are mega annoying me and the awkward little brat in me wants to make life a little more difficult for them.:shhh:
They have refused my offers of full and final settlement - I tried 10% of the balance - they bounced back with 10% off the whole balance. I went back with a third of the balance and they responded with 50%. Which is still more than I want to pay :mad:
As the balance is an old defaulted balance which has now been cleared off my credit file under the six year rule - I've basically told them not to bother me except by email and I will take 27 years to pay it off!! The total sum owed is #330 but I can't be bothered with it or them anymore! Hence my question about annual payments!
Can you tell I had a bad day at the office last week?:doh:


Swampy

Sounds to me like you were getting there with your negotiations

You offered 10%, they countered with 90%

You went to 33%, they came down to 50%

Sounds like a 40-45% deal was there for the taking if you'd phoned them

Anyway if you want to annoy them ahead of the next round you need to pay them £1 per month.

Did this ever have a period of more than six years when you didn't pay this?

swampduck

This is a debt that has been acknowledged and payments made regularly despite a fairly regular debt collector shuffle. It is not statute barred and is one of seven which we have acknowledged and been making regular payments via a personal DMP since 2009.
I had been hoping for a little leeway but as this debt collector has only had this debt a few months -they were not playing ball - so I've think I've just lost patience now. We've come along way from back then we had some 15 debts, mortgage arrears, utility arrears, council tax arrears and so on. Now everything is up to date except these final seven debts. We'll get there eventually!!

Swampy