Offers to creditors for "unenforceable" debts

TheDebtinator

I have two creditors who have not been able to produce a CCA when requested.

I want to pay these off so that when I apply for a mortgage I will be completely squeaky clean as the defaults will no longer be on my file after October anyway and I will be otherwise largely debt free.

As the debts are "unenforceable" I want to make them a Full and Final Settlement offer. How should I word the letter? I aim to low-ball as much as possible (I am not interested in the moralities of this, I know that I owe the money yadda yadda yadda, that has never been in doubt, but my best way of getting "out of debt" is a FaF offer), and I am also aware that I may be paying money I do not need to because the debts are unenforceable, but as I intend on buying a house next year with my future wife, if I have to declare these debts, then I am going to be no better of regardless.

Thanks.

Marktheshark

Why would you pay someone you do not owe money to.
With no CCA they have no deed for the debt and you should make them remove references to it on your credit files.
For the cost of a few stamps.

Making an offer restarts the statute barred clock for six years and this may buy them enough time to find the CCA and obtain a CCJ if you do not pay in full.

TheDebtinator

I am pretty certain that I cannot have the defaults removed from my credit files just because they do not have a cca for my debt. This would not be a true representation of my credit history as a result.

I am more concerned about having to declare these debts when I want to apply for a mortgage / further credit in the future.

zenshi

Will follow with interest! I may be in the same position as you, still waiting on CCA but I'm definitely of the same mindset.
I feel to haggle and settle would ease my conscience much than than not paying..... I know it's a very personal choice

fatbelly

TheDebtinator wrote: »

I have two creditors who have not been able to produce a CCA when requested.

I want to pay these off so that when I apply for a mortgage I will be completely squeaky clean as the defaults will no longer be on my file after October anyway and I will be otherwise largely debt free.

As the debts are "unenforceable" I want to make them a Full and Final Settlement offer. How should I word the letter? I aim to low-ball as much as possible (I am not interested in the moralities of this, I know that I owe the money yadda yadda yadda, that has never been in doubt, but my best way of getting "out of debt" is a FaF offer), and I am also aware that I may be paying money I do not need to because the debts are unenforceable, but as I intend on buying a house next year with my future wife, if I have to declare these debts, then I am going to be no better of regardless.

Thanks.

Factsheet

https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx

and letter

https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-(sole-name).aspx#

rizla_king

TheDebtinator wrote: »

I am pretty certain that I cannot have the defaults removed from my credit files just because they do not have a cca for my debt. This would not be a true representation of my credit history as a result.

true. markshark is talking rubbish

HappyMJ

rizla_king wrote: »

true. markshark is talking rubbish

But does in a way make sense.

Paying the debt off, in full or in part, is not going to remove the default.

Why pay anything at all?

It will automatically be removed 6 years after the default anyway and the debt cannot be enforced in court at any time.

Paying a default off makes very little difference to a credit "score" so personally as marktheshark is implying don't bother offering or paying anything at all.

I wouldn't bother applying for a mortgage until the defaults have been removed anyway and after they've been removed nothing is owing so I would not mention the debt at all.

poppasmurf_bewdley

HappyMJ wrote: »

But does in a way make sense.

Paying the debt off, in full or in part, is not going to remove the default.

Why pay anything at all?

It will automatically be removed 6 years after the default anyway and the debt cannot be enforced in court at any time.

Paying a default off makes very little difference to a credit "score" so personally as marktheshark is implying don't bother offering or paying anything at all.

I wouldn't bother applying for a mortgage until the defaults have been removed anyway and after they've been removed nothing is owing so I would not mention the debt at all.

The above is correct and the best way to go.

I would echo that there is no reason to even mention the debts to the mortgage company once the defaults have dropped off your credit file. If the CCA's cannot be produced, then the debt is dead and your creditors know that.

sourcrates

Agreed.

Paying a defaulted account will not remove the default, only time will do that.
Absolutely no point paying them anything at all, you'll just be wasting your money.

The creditor can't take legal action, as poppa smurf sayes, the debts are dead in the water.


You say they will drop off your file in October, that will happen regardless of weather you pay these or you don't.


Why waste good money you can put towards your house deposit ?

TheDebtinator

Thanks all, I will continue to ignore until I need to remind my creditors that they do not have a cca and to go forth and multiply until such time that they do

sunshineyday6

Hi-just what I was going to ask-shall I offer f&f,my problem is I am moving next week and could have my post redirected to family member (but don't want debt letters going there)as I don't yet have an address as such(may be in caravan )
I have looked at offering them all small f&f-saying I will be uncontacble for the foreseeable future and of course that they don't have CCA's,I have managed to ignore letters and phone calls for almost 2 years so am only 4 years off statue barred I think-is that only if they have defaulted you??
Really don't know what to do-I do have a little money as sold my property-really panicking hereI have been looking at redirecting post to a po box address-would really appreciate any tips,help,please.