Requesting Settlement figure with PRA Group

monkeybuster

Hi Fatbelly,

If I do decide to try to negotiate a reduced amount can I do that directly with the creditor or does it all have to be via the court now that a CCJ has been issued - i.e. do the court actually need to change the value of the CCJ, or can I just deal with the creditor in the hope that they might agree to accept a lower amount than stated on the CCJ?

Likewise with negotiating instalments. If I decide that I'll just have to accept the total and then negotiate acceptable monthly payments, can I do that directly with the creditor or does that have to be set via the court?

Thanks.

fatbelly

monkeybuster wrote: »

Thanks.

Doesn't look like I've got much hope for negotiating a reduction then - I do work and and have a house.

The CCJ said that since the amount was over £5000 (it's £9K) the creditor may be able to apply for interest (at 8%). If I do pay a small amount over many years, the extra interest could spiral out of control. Is this a likely thing for PRA Group to do?

Try an offer anyway

Interest after judgement is a bit of a minefield if they try it (they may not) - National Debtline have a factsheet here

https://www.nationaldebtline.org/EW/factsheets/Pages/countycourtinterestcharges/interestonaccj.aspx

monkeybuster wrote: »

Hi Fatbelly,

If I do decide to try to negotiate a reduced amount can I do that directly with the creditor or does it all have to be via the court now that a CCJ has been issued - i.e. do the court actually need to change the value of the CCJ, or can I just deal with the creditor in the hope that they might agree to accept a lower amount than stated on the CCJ?

Likewise with negotiating instalments. If I decide that I'll just have to accept the total and then negotiate acceptable monthly payments, can I do that directly with the creditor or does that have to be set via the court?

Thanks.

Directly with the creditor for a settlement deal. You can also negotiate instalments with the creditor. However, they could decide to enforce the debt by bailiffs or attachment to earning if you are in default of the current order.

They can try a charging order at any time as that is considered to be securing the debt rather than enforcing it.

monkeybuster

Hi Sourcrates and Fatbelly. Thanks for your advice.

Regarding the possibility of setting aside the CCJ on the grounds of disputing the amount etc, I've just looked back at my original spreadsheet from 2008 when I first got into financial trouble. I've listed my MBNA debt as being £7500. This debt changed hands several times after I defaulted, before PRA finally put in for the CCJ at £8700. But they (or the court?) must also have added £500 in costs I think, so the final CCJ is for £9200. Does this seem a reasonable amount of costs to have been added on over the years, or do you think I actually do have grounds to set aside the CCJ and ask PRA to prove the amount; send details of all charges and payments that were made etc? Or is it too late? Once the CCJ has been issued, do I still have the entitlement under the CCA to request all the aforementioned information? Could I (even thought the CCJ has been issued) still now write to PRA and request the CCA information, stating that I believe excessive costs have been added, and asking for a full statement of payments etc? And if they can't produce it does that give me hope to be able to do something (at the very least to negotiate a lower settlement with PRA)? Or is it the case that in order to have obtained the CCJ in the first place they must have already had to submit all the satisfactory CCA stuff to the court?

Thanks.

monkeybuster

Just to add, I have already had a Warrant of Control issued and threats that the bailiffs will come. If there is any hope that I may be able to set aside the CCJ, or request the CCA information from PRA, is there anything I can do right away to stop further action whilst I catch my breath!

From what I've read here, requesting the CCA information prevents further legal action until the debt agency provides the information you've requested. But does that only work BEFORE the CCJ is issued, or even now would a CCA request prevent PRA from taking any further action (e.g. an attachment to earnings?) whilst I figure out if there's any mileage in disputing it?

Thanks again.