PRA Group and My Debt

January2015

Magic86 wrote: »

I have 30 years left on the mortgage so that!!!8217;s not likely and I imagine income will stay the same.

Is it worth sending the CCA off to PRA? I!!!8217;m just worried they won!!!8217;t be as lenient as MBNA were who let me pay whatever I could.

What!!!8217;s the best strategy going forward?

It's worth sending a CCA request for each debt you have. It's your right and creditors and DCAs won't treat you differently because you have asked.

glentoran99

yeah they wouldn't go below 70% others settled for a lot less

ThisIsMe

PRA Group was fantastic with me. They took over my Welcome Finance loan a good few years ago now, maybe 2013, not sure. I was paying £1 per month for a few years, then one day i happened to mention my mental health, they asked for proof. So sent them a email with a photo of the pills i take, and a copy of the sick note (fitness for work) & they just closed my account with a £0 balance a week later.

They really was good. My worst company i have dealt with was Mil Collections Ltd, but PRA was one of the best. You don't need to worry

NeverendingDMP

I've got two or three of my debts with pra group now. They have been good with me and apart from the first letter about an arrangement which I had already with the c card company I don't here from them. They all accepted the amount I was paying to each of the cards. I got letters about three months after offering full and final amounts of about 65 percent but couldn't afford them. My DMP was organised through stepchange. Everyone gets something. They work out the split in a way that I never quite understand but all the company's seem to accept it. Stepchange will likely work it out that the other debt gets less than 100 so this can get something as well. Theres an online tool for working it out yourself if you want to self manage but I can't think what it's called.

wolf475

Really interested by this thread and others regarding MBNA passing debt onto PRA. I'm in a similar situation, received a letter from PRA last week.

I've been dealing with StepChange since last July (I have several card balances which have been frozen while I sort things out) - MBNA took zero payments until the start of this year and have now passed the debt on. I plan to write to PRA with an offer of what I can afford (which will be approx £50 per month).

Background is I was basically out of work for 2 years with only casual income of around £100 a week for about a year of that time. Currently I have a temporary job until June.

My MBNA card was taken out in March 2015, I've read about a CCA request. Should I do this or simply make PRA an offer?

Thanks (I'm sure this won't be my last question).

Magic86

Just as an update... I sent away the CCA as advised and they have responded advising that they have requested the information (assumingly from MBNA) and that my account has been frozen until they can send the information on.

They have said that if they don!!!8217;t respond within 12 working days the debt will become unenforceable however all that means is they can!!!8217;t issue a CCJ?

It says the debt will still be on my credit file and they can issue a debt collection agency amongst other things. Is that correct?

sourcrates

Magic86 wrote: »

Just as an update... I sent away the CCA as advised and they have responded advising that they have requested the information (assumingly from MBNA) and that my account has been frozen until they can send the information on.

They have said that if they don't respond within 12 working days the debt will become unenforceable however all that means is they cant issue a CCJ?

It says the debt will still be on my credit file and they can issue a debt collection agency amongst other things. Is that correct?

That is correct.

All there original rights and obligations remain the same, they can still report to your credit file, they can issue a default (if not done so already) they can still ask for payment, and they can instruct a DCA, they can even start a court claim.

What they cannot do is obtain judgement against you as long as the request is outstanding.

The same applies if they produce a non compliant credit agreement, or no agreement at all.

The 14 days are just guidelines, they are not set in stone, expect a 2/3 month wait at least for the OC to respond to you, if at all.

Magic86

If it becomes unenforceable then, am I likely to have a better chance to agree a lower repayment amount?

sourcrates

Magic86 wrote: »

If it becomes unenforceable then, am I likely to have a better chance to agree a lower repayment amount?

If you mean a settlement offer, then that is always difficult to predict.

Depends on the creditor, weather or not they need to bump up there cash-flow at the time, or any one of 50 other reasons.

All you can do, if that turns out to be the case, is put the offer to them, and see how they respond, some will accept, some wont, all i can tell you is some people have had good results in this area.

liencam

I just called PRA to make them an offer.

Apparently their system provides a settlement figure for each account, which is updated regularly. For me, this was in the region of 95% of the balance!

I offered them around 50%, the adviser went off to discuss this with their manager. They refused the offer, and stuck with the system generated amount. I politely declined.

I'll call them again tomorrow and try again.....laying it on a little thicker.