DCA's and F&F

jchrispin

Has anyone on a DMP (for quite a while) where debts have been passed to DCA's asked the DCA to accept payments made as a an F&F settlement?

I'm currently asking the DCA's of some of my debts for a CCA in the hope that I can get them to accept what I have already paid as final settlement but was wondering if anyone has ever done this? I haven't denied the debt but I have made around 45% repayment.

Thanks in advance

Janine

fermi

Some have. There is a F&F thread here: https://forums.moneysavingexpert.com/discussion/comment/70038210#Comment_70038210

DCAs rarely voluntarily give up on a debt you are paying, which is sort of what you are asking.

Lack of a CCA may encourage them to settle for a small amount though, or if you dig your heals in and stop paying they may decide it's not worth pursuing. Only prob with that is that CCAs can sometimes unexpectedly turn up, often where they original creditor finally digs it out of storage/archive somewhere or finds records to reconstitute.

Basically, each account you will have to look at on it's merits and decide what the best thing to do is once you get your CCA replies.

sourcrates

jchrispin wrote: »

Has anyone on a DMP (for quite a while) where debts have been passed to DCA's asked the DCA to accept payments made as a an F&F settlement?

I'm currently asking the DCA's of some of my debts for a CCA in the hope that I can get them to accept what I have already paid as final settlement but was wondering if anyone has ever done this? I haven't denied the debt but I have made around 45% repayment.

Thanks in advance

Janine

Hi,


Making CCA requests to your accounts, is a good start.


Its unlikely a DCA would accept all payments made to date as a final settlement unless your balance was fairly low, as you are effectively asking them to write off the debt.


They may accept a further F & F offer from you, if you have approx 55% outstanding on each account, possibly offer 20% to clear it ?
You should await the outcome of the CCA requests first though.

jchrispin

Thanks - I'll see what happens.