The start of default road

sourcrates

Just to add to this, its always the original creditor that retains the agreement copies, they are provided on request to the debts new owner, obviously only if they can be found or can be re-constituted.

PRA, Lowell, or whoever it may be, do not retain these documents, they are only supplied to them, and then to you, when you make a request for them.

It`s an important distinction, as the debt purchaser plays no part in this except to pass on whatever the OC provides to them. 

DD1A

Well a letter was received rather quickly and they have enclosed the documents requested.
The letter states to contact their office by 11/04/2024 by phone and their agent will assist with coming to a mutually acceptable agreement.

Do i continue to wait it out or is now the time to surrender and start communicating with them?

I am still not in a stable financial position but not sure what move to make now they have produced the documents.

TIA

fatbelly

It's difficult for you to propose any payment if your finances are not stable.

How long before things settle for you?

DD1A

fatbelly said:

It's difficult for you to propose any payment if your finances are not stable.

How long before things settle for you?

I have just received a slight pay increase at work from next month so could make a small payment each month maybe £20-30 at most as the increase wasn’t a great deal.

fatbelly

You have two debts?

So that's £20-30 across both debts?

That is going to be a very long payment schedule.

Maybe just do token £1 offers while you decide a better strategy

DD1A

fatbelly said:

You have two debts?

So that's £20-30 across both debts?

That is going to be a very long payment schedule.

Maybe just do token £1 offers while you decide a better strategy

Unfortunately so, one is approx 9k and the other is 10k but I have not had any correspondence regarding the second one yet but both went to default couple weeks apart.

Yes £30 max would be affordable atm and if I get any spare change I can add a little here and there.

I have received this from PRA in my inbox which I have just discovered and getting a little anxious now.

Should I contact them via email offering token payments?
How does one go about paying token payments?

TIA

RAS

Have you received a Letter before Action or any other documents regarding the court case. Possibly issued via the Northampton Court?

fatbelly

The phrase 'passed to the county court' is nonsense. Sounds like this organisation is run by 13 year-olds.

To answer your other question

https://www.nationaldebtline.org/sample-letters/token-payment-or-no-offer-payment/

DD1A

RAS said:

Have you received a Letter before Action or any other documents regarding the court case. Possibly issued via the Northampton Court?

Not yet just PRA headed letters emails and text messages

DD1A

fatbelly said:

The phrase 'passed to the county court' is nonsense. Sounds like this organisation is run by 13 year-olds.

To answer your other question

https://www.nationaldebtline.org/sample-letters/token-payment-or-no-offer-payment/

Thank you.

For the following field,

‘Since making the above agreement with you, my circumstances have changed. I cannot now afford to make the agreed monthly payments for the following reasons.’

Should I just be honest and say financial struggling?


Do I enclose a budget summary?


How long can I state to suspend payments for?