PRA Group - settlement offer woes

kelly_p

I wanted to update this post.
I have requested (several months ago) and received Documentation today and a covering letter from Pra Group.
They have basically sent copies of nationwide credit scoring info and Barclaycard statements to me and said waiting further documents and presently deem the debt unenforceable. So I guess this means the documents they need to enforce are either not available at the moment or they dont have them.
I have made an offer to settle the account but they declined it saying they require nearly £2,000 of the near £5k owed.
I've reduced my payments at this point.
Any advise on the above?

sourcrates

I would concentrate on the debts that are enforcable, rather than waste money feeding PRA group profits on an unenforcable debt.

kelly_p

Thanks would you advise making any further offer if I'm able or leave it in their ballcourt?

sourcrates

kelly_p said:

Thanks would you advise making any further offer if I'm able or leave it in their ballcourt?

Its a bit of a myth that they will accept lowball offers if correct paperwork cannot be found.

Occasionally a company will do that, but most, PRA inc, will still hold out for full payment, or offer a very measly discount.

This is because they buy the debts in bulk, what they lose on the unenforable ones, they more than make up for on the rest, so they have no real incentive to accept peanuts from you, they would rather simply sell it on again, than do that.

Its your choice what you do, you may get lucky, unfortunatly there is no way to predict how they will react to your offer.

Suseka97

PRA are renowned for not accepting low F&Fs and the more times you offer, the more keen you look - so they'll just hold the line.  The best thing to do is stop paying altogether and set aside that payment, or put it towards any other enforceable debts you have.  They took over 2 years before they started offering me discounts and at nearly 3 years they are at 65% discount.  I just ignore them and have since 2017.  

kelly_p

Thanks everyone for the advise.

Stretchorama

Hi,
Looking for some advice regarding PRA and saw this thread which has helped a lot but I'm looking for a wee bit more information.
I'm in a debt management plan and over the last few weeks I've been in a position to clear all my debts bar one, yes the one with PRA group. The debt management plan is still running but only for PRA. I called PRA last night and offered to pay £3000 towards a debt of £7000 with possibly a wee bit wiggle room. Not interested was the reply, it has to be paid in full.
Now to my questions. At the moment the Debt management plan pays £140 per month to this debt which I was told last night is non enforceable. Do I go back to the DMP company and get them to try and negotiate a settlement on my behalf? Do I continue to use the DMP paying £140 or month? Or do I leave the DMP and stop paying PRA and wait until PRA contact me? And do I also let them know I've moved home?

I hope this all makes sense and thanks for any help forthcoming.

Cheers

Suseka97

Stretchorama said:

Hi,
Looking for some advice regarding PRA and saw this thread which has helped a lot but I'm looking for a wee bit more information.
I'm in a debt management plan and over the last few weeks I've been in a position to clear all my debts bar one, yes the one with PRA group. The debt management plan is still running but only for PRA. I called PRA last night and offered to pay £3000 towards a debt of £7000 with possibly a wee bit wiggle room. Not interested was the reply, it has to be paid in full.
Now to my questions. At the moment the Debt management plan pays £140 per month to this debt which I was told last night is non enforceable. Do I go back to the DMP company and get them to try and negotiate a settlement on my behalf? Do I continue to use the DMP paying £140 or month? Or do I leave the DMP and stop paying PRA and wait until PRA contact me? And do I also let them know I've moved home?

I hope this all makes sense and thanks for any help forthcoming.

Cheers

Generally its best to start a thread of your own, rather than piggy-back on one that's pretty much been answered  Stops any confusion and will help you keep track of responses.

Stretchorama

Suseka97 said:

Stretchorama said:

Hi,
Looking for some advice regarding PRA and saw this thread which has helped a lot but I'm looking for a wee bit more information.
I'm in a debt management plan and over the last few weeks I've been in a position to clear all my debts bar one, yes the one with PRA group. The debt management plan is still running but only for PRA. I called PRA last night and offered to pay £3000 towards a debt of £7000 with possibly a wee bit wiggle room. Not interested was the reply, it has to be paid in full.
Now to my questions. At the moment the Debt management plan pays £140 per month to this debt which I was told last night is non enforceable. Do I go back to the DMP company and get them to try and negotiate a settlement on my behalf? Do I continue to use the DMP paying £140 or month? Or do I leave the DMP and stop paying PRA and wait until PRA contact me? And do I also let them know I've moved home?

I hope this all makes sense and thanks for any help forthcoming.

Cheers

Generally its best to start a thread of your own, rather than piggy-back on one that's pretty much been answered  Stops any confusion and will help you keep track of responses.

Cheers I'm new to all this so I'll start a thread.