Pay the settlements or CCA?

RVZ

What would you do??

I think I've almost made my mind up but another perspective would be useful.....

Basically I have settlement offers on 3 debts @ 50%,70%,70% totalling £11500. I've got the money to clear these but can't help but feel like I'd be paying to much.

On the other hand the CCA route just seems like a load of hassle with the potential for CCJ (especially from PRA who have a habit of going to court even when UE apparently) and seeing as I now have a great credit score (defaults have all dropped off now) I'm not sure it's something worth risking.

To be honest after 6 years I just want to be done with it.

All opinions welcome, Thanks

Willing2Learn

I would definitely go the CCA route as it is pretty important to know whether the accounts have compliant paperwork. If it turns out any debt do not have compliant paperwork then that could save money

EssexHebridean

If you acknowledge that the debt was incurred by you - ie you knowingly paid for things or services using credit and got the benefit of the money spent - and you're now at a point where you want the debt gone, then it may be that purely to remove the stress from the situation and walk away then paying it off will sit best with you. It's like you say - even though it shouldn't, the CCA route does come with a side order of potential hassle.

RVZ

EssexHebridean wrote: »

If you acknowledge that the debt was incurred by you - ie you knowingly paid for things or services using credit and got the benefit of the money spent - and you're now at a point where you want the debt gone, then it may be that purely to remove the stress from the situation and walk away then paying it off will sit best with you. It's like you say - even though it shouldn't, the CCA route does come with a side order of potential hassle.

Yes I take full responsibility for the debts incurred, even though the credit companies make it sooo easy for you to build up a debt you can't possibly afford! and then sell on your debt to the bottom feeders of the industry who are probably the only ones to come out with a profit.
I'm not stressed about it and never have been really... If you haven't got the money to repay then there isn't much you can do about it!
I could stay on a DMP for another 8 years and see it paid in full but now I have a pot of money it just seems like it's time to be done with.
Fortunately all the DCAs have been ok and I haven't experienced any hassle, want to keep it that way. Getting to old for this s**t

Willing2Learn

I would not be too wary of hassle though. The DCAs are used to getting CCA requests. It happens all the time and they mostly respond without any hassle of the debtor. I personally would not be too worried about them...

sourcrates

I would recommend you get them sent, if only to clarify your own position.

You still have choices if they come back unenforceable.

Just_Di

RVZ wrote: »

I've got the money to clear these but can't help but feel like I'd be paying to much.

On the other hand the CCA route just seems like a load of hassle with the potential for CCJ (especially from PRA who have a habit of going to court even when UE apparently) and seeing as I now have a great credit score (defaults have all dropped off now) I'm not sure it's something worth risking.

If your debts have been assigned the debt purchaser would have typically paid 10p in the pound to buy them from the original creditor so recovering anything over 10% of the balance would be pure profit made off the back of your unfortunate circumstances.

I have first hand knowledge of PRA taking people to court despite the credit agreement being unenforceable, only they lost and had to pay the legal costs in PRA v Diana Mayhew (me )

Issuing a claim and winning in court are two different things.

Di