We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
If a DCA has no credit agreement...
mb73
Posts: 84 Forumite
Hi. Quite a few months ago, I was advised to ask the two DCAs chasing me for old debts to provide copies of credit agreements. The debts are from 2003/4 time. One of the DCAs, Intrum, acknowledged my request, is still taking payments, but has failed to provide the credit agreement. The other, Lowell, suspended the account, then yesterday sent me a copy of the credit card application, along with account statements, but no credit agreement. How should I handle this now? I will shortly be in a position to offer these companies an amount, probably around 10-20% of the debts, in full and final settlement. What is other people's experience of doing this with these particular companies?
Debt at light bulb moment - £15K
Currently stands at £2.6K
Current debt-free date: far far away
Proud to be dealing with my debts
Official DFW Nerd Club Member 1221
DFW Long Haulers Supporter #173
Currently stands at £2.6K
Current debt-free date: far far away
Proud to be dealing with my debts
Official DFW Nerd Club Member 1221
DFW Long Haulers Supporter #173
0
Comments
-
Have you made any contact about these debts in the last 6 years? may be barred.0
-
No credit agreement means they cannot take you to court to enforce their rights.
You can either just walk away, or make a small settlement offer to them.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
It's not barred as I've made token payments toward it. However, at the rate I was paying, I'll be long dead before it's cleared. I'll be able to offer them a couple of hundred, so with any luck they'll accept that as full and final since the debt isn't legally enforceable. I guess I need to write rather than calling them. Thanks for the help. 😊Debt at light bulb moment - £15K
Currently stands at £2.6K
Current debt-free date: far far away
Proud to be dealing with my debts
Official DFW Nerd Club Member 1221
DFW Long Haulers Supporter #173
0 -
Good luck!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards