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Small Claims Mediation Appointment coming soon...
engsnayl_2
Posts: 8 Forumite
Hi,
Have a Mediation Appointment coming up soon with a Debt Collector who bought a defaulted Credit Card debt.
The amount in dispute is relatively small only about a grand.
Does anybody have any experience of going to this stage?
I'm assuming this would have been purchased somewhere between 5% and 15% of it's face value if my research so far is reliable so any guidelines as to what one could reasonably expect to be able to settle on in terms of pence/£?
Financial situation is pretty dire, not worried about having to go to Court if need be, not much to lose to be honest but am prepared to enter into the conversation in the spirit of coming to an agreement should one be possible.
Thanks
RH
Have a Mediation Appointment coming up soon with a Debt Collector who bought a defaulted Credit Card debt.
The amount in dispute is relatively small only about a grand.
Does anybody have any experience of going to this stage?
I'm assuming this would have been purchased somewhere between 5% and 15% of it's face value if my research so far is reliable so any guidelines as to what one could reasonably expect to be able to settle on in terms of pence/£?
Financial situation is pretty dire, not worried about having to go to Court if need be, not much to lose to be honest but am prepared to enter into the conversation in the spirit of coming to an agreement should one be possible.
Thanks
RH
0
Comments
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Have they produced the CCA ?You can pay by instalments if this went to judgement, if you can afford to make an offer, start at 30%, make sure they are aware of your dire financial status beforehand.A thousand pound debt will have been bought for anything up to £100 or so.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-letter1
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Thanks, yeah they did produce all the requested paperwork.
Thanks for the advice, much appreciated.0 -
If you are short of cash and you can demonstrate you are short of cash, then stick to your position.
The issue for these companies in collecting small amounts is they want a known and regular amount. There is no point in them pressing you to pay an amount that is unaffordable as it costs more in time/money if the payment plan continues to fail. They'll simply want to know that you can continue to pay for a period. Work out what you can pay regularly, stick to it, and point out that if the arrangement fails it will cost them more.- All land is owned. If you are not on yours, you are on someone else's
- When on someone else's be it a road, a pavement, a right of way or a property there are rules. Don't assume there are none.
- "Free parking" doesn't mean free of rules. Check the rules and if you don't like them, go elsewhere
- All land is owned. If you are not on yours, you are on someone else's and their rules apply.
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An agreement was struck.
Wasn't entirely happy with the the mediator it had to be said.
Had to check this individual twice for questioning my position and proposition in a way which I felt was beyond the scope of their remit but that aside it was a relatively straightforward process.
Thanks for all input.0
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