Offered 10% early settlement

col81

PRA cannot find the CCA for 1 of my debts so that takes me down to £5300 owing. Sorry to rant on i have been in debt for so long over 6 years now and i have had enough of it. I am not paying them off and having no emergency funds

dinglebert

col81 said:

PRA cannot find the CCA for 1 of my debts so that takes me down to £5300 owing. Sorry to rant on i have been in debt for so long over 6 years now and i have had enough of it. I am not paying them off and having no emergency funds

Either you are a troll or irresponsible.  Nothing I say is going to change that so I'm out.

D3xt3r5L4b

col81 said:

PRA cannot find the CCA for 1 of my debts so that takes me down to £5300 owing. Sorry to rant on i have been in debt for so long over 6 years now and i have had enough of it. I am not paying them off and having no emergency funds

Whose fault is that?

HummingBird76

col81 said:

PRA cannot find the CCA for 1 of my debts so that takes me down to £5300 owing. Sorry to rant on i have been in debt for so long over 6 years now and i have had enough of it. I am not paying them off and having no emergency funds

Sorry, is that a joke?  Your debt is your fault right?  But you've "had enough of it".  You sound completely entitled and irresponsible.  Use £4,000 of your emergency fund to pay off some of your debts.  Keep £1,000 in your emergency fund (then you'll have the same as me - and I work hard and always pay what I owe).  Honestly, get a grip.

ldhme

col81 said:

PRA cannot find the CCA for 1 of my debts so that takes me down to £5300 owing. Sorry to rant on i have been in debt for so long over 6 years now and i have had enough of it. I am not paying them off and having no emergency funds

That's unfortunate, of 12.5k remaining I did CCA requests to 7 DCAs and 12k of it came back as currently unenforceable.
I've taken the unpopular approach of not paying it so I can get financially stable, and get on the property ladder to provide security for my young children. As this is far more important to me than paying 6+ year old delinquent debt. I do however intend on settling the debt down the line and will take responsibility for it.
Point is, I get how you feel but don't risk getting CCJs that will ruin your credit again and will mean they can make you pay it.
My advice is to ignore the unenforceable, for the time being at least, up your offer to around 30% on the others, this will still leave you with circa 3k+ emergency funds if they accept.

Barny1979

I'd love to rack up a load of debt then just say you can have 10% of the value of the debt owed to clear it or jog on

diggingdude

Imagine if you went to work all month then your employer offered you 10% of your wages. 

sourcrates

diggingdude said:

Imagine if you went to work all month then your employer offered you 10% of your wages. 

That’s hardly a good analogy, the original creditors have long since lost interest and washed their hands of these accounts, they have been sold on for a few measly quid to companies that then try to recover the full balance from you, thus profiting from your miserable situation.

People in debt rarely have an easy time of it, there are usually underlying circumstances which necessitates actions such as this, and making judgemental statements when you know absolutely nothing about the OP’s situation can backfire on you spectacularly.

The moral squad always respond in force to posts such as this, as they cannot resist the urge to display how whiter than white they are, first rule when your in debt is to safeguard an emergency fund, as generally you don’t have access to credit, so if the washer blows up, or the car fails its MOT, you have sufficient funds to cover the cost.
Much more prudent having it there for your benefit, than to add to the profits of a debt purchasing company.

Posting as you do, displays a crucial lack of understanding of how the debt industry actually works, and also shows a remarkable lack of empathy for someone having a tough time of it.

ldhme

sourcrates said:

diggingdude said:

Imagine if you went to work all month then your employer offered you 10% of your wages. 

That’s hardly a good analogy, the original creditors have long since lost interest and washed their hands of these accounts, they have been sold on for a few measly quid to companies that then try to recover the full balance from you, thus profiting from your miserable situation.

People in debt rarely have an easy time of it, there are usually underlying circumstances which necessitates actions such as this, and making judgemental statements when you know absolutely nothing about the OP’s situation can backfire on you.

The moral squad always respond in force to posts such as this, as they cannot resist the urge to display how whiter than white they are, first rule when your in debt is to safeguard an emergency fund, much better having it there for you than to add to the profits of a debt purchasing company.

Posting as you do, displays a crucial lack of understanding of how the debt industry actually works, and also shows a remarkable lack of empathy for someone having a tough time of it.

It's for the reasons you've mentioned I've started to post on these forums, as there seems to be a select few who actually help people.
I am fortunate enough to be at the end of a horrendous 7 years and if I knew at the beginning what I know now they would have been so much easier and less stressful.

MattMattMattUK

sourcrates said:

People in debt rarely have an easy time of it, there are usually underlying circumstances which necessitates actions such as this, and making judgemental statements when you know absolutely nothing about the OP’s situation can backfire on you spectacularly.

Maybe they do not have "an easy time of it", but neither to the people they do not pay. We all have to pay higher rates of interest, higher costs, higher charges etc. because people do not pay their debts.

sourcrates said:

The moral squad always respond in force to posts such as this...

So you think it is acceptable to not pay your bills? How about my friends who could not pay his mortgage for six months because people decided it was acceptable to not pay him despite having the money to do so? How about the person I had to spend nearly a year battling through the courts to get payment for a previous employer because they decided not to pay?

sourcrates said:

Much more prudent having it there for your benefit, than to add to the profits of a debt purchasing company.

It might be "prudent", but it is also utterly selfish and has negative impacts on wider society.

sourcrates said:

Posting as you do, displays a crucial lack of understanding of how the debt industry actually works, and also shows a remarkable lack of empathy for someone having a tough time of it.

Most people are aware of how the "debt industry" works, they are aware that non-payment of debt pushes up costs for all of us, the cost of people not paying is added in as part of the calculation for the overall cost of things. Much like people think shop lifting from large stores is a victimless crime, even though that pushes up prices for all of us.

I have been in debt before, I no longer am, I paid every penny that was due because that is the morally and legally right thing to do. Having a tough time is one thing, that is when people should knuckle down and sort things out, not hide money from their creditors and try to screw over wider society.