Full and Final settlement for 8 year old debt

Lottie_Dottie_

Looking for some advice from you lovely people. I have a 8 year old debt for £3065. Its no longe on my file but Drydens bought it last year and I find them difficult. last year I ended up with a CCJ because I stupidly ignored one of their letters. I don't want the same to happen again. I'm paying £10 a month for this debt and want to offer a settlement figure - what would start at?

stu12345_2

first question what's the maximum amount of money do you have, so you know whether it's even worth attempting an offer.
I take it the money is coming from a. gift from friends etc, cos at £10 a month I assume you have very little income.

if so how big can the gift be?

Lottie_Dottie_

I'll have £650 which is around 20%

stu12345_2

all you can do is try, haggle up to £650.
 I assume the debt is enforceable, have you done a cca request?

Lottie_Dottie_

I'll haggle
I have others that aren't enforceable but this one is. thanks for the reply 

BadDebtor

Lottie_Dottie_ said:

Looking for some advice from you lovely people. I have a 8 year old debt for £3065. Its no longe on my file but Drydens bought it last year and I find them difficult. last year I ended up with a CCJ because I stupidly ignored one of their letters. I don't want the same to happen again. I'm paying £10 a month for this debt and want to offer a settlement figure - what would start at?

I have had paperwork from Drydens who are owned by Arrow Global, who move my debt to Hoist No.45321 who sold it to Lowell.  They got a backdoor CCJ and made the same threats, but nothing came of it.

 

You say the debt is an 8 year old debt, was the debt 6 years since default at the time the CCJ was obtained?

If so then you might appeal to the Court to have the Judgement set aside on the basis that the debt was statute barred at the time. It will cost under £300 which I think you get back if the application is granted.

You can only afford £10 which suggest you do not have much money, so one option for you (if your financial circumstances qualify) is a DRO or Debt Relief Order.

How this works and eligibility details are below.

How much debt must I owe? £30,000 or less.

What type of debt? Most types of debt except: student loans, magistrates' court fines, maintenance payments or maintenance arrears ordered by a court, Child Support Agency or Child Maintenance Service arrears, money owed under a criminal confiscation order, debts you build up through fraud, debts resulting from certain personal injury claims and budgeting or crisis loans.

How long will it last? You will be discharged from your debts after one year.

How it works

You can apply to the official receiver for a DRO on a special online application form with the help of a money adviser who has been appointed as an approved intermediary.

You will be eligible if: you are unable to pay your debts; you have £75 or less spare income each month after you have paid your normal household bills; your total debts are £30,000 or less; your total assets are worth £2,000 or less; and, if you own a car, this is worth below £2,000. You cannot apply if you have had a DRO in the last six years. If you do not live in England or Wales (or have not lived or run a business in England or Wales in the last three years), you cannot apply.

If your application is successful, most types of debt will be written off after 12 months. 

A DRO could be a good option if you rent your home, have few assets and little spare income.

QUOTED FROM National Debt Line 
https://nationaldebtline.org/fact-sheet-library/ways-clear-your-debt-ew/

stu12345_2

BadDebtor said:

Lottie_Dottie_ said:

Looking for some advice from you lovely people. I have a 8 year old debt for £3065. Its no longe on my file but Drydens bought it last year and I find them difficult. last year I ended up with a CCJ because I stupidly ignored one of their letters. I don't want the same to happen again. I'm paying £10 a month for this debt and want to offer a settlement figure - what would start at?

I have had paperwork from Drydens who are owned by Arrow Global, who move my debt to Hoist No.45321 who sold it to Lowell.  They got a backdoor CCJ and made the same threats, but nothing came of it.

 

You say the debt is an 8 year old debt, was the debt 6 years since default at the time the CCJ was obtained?

If so then you might appeal to the Court to have the Judgement set aside on the basis that the debt was statute barred at the time. It will cost under £300 which I think you get back if the application is granted.

You can only afford £10 which suggest you do not have much money, so one option for you (if your financial circumstances qualify) is a DRO or Debt Relief Order.

How this works and eligibility details are below.

How much debt must I owe? £30,000 or less.

What type of debt? Most types of debt except: student loans, magistrates' court fines, maintenance payments or maintenance arrears ordered by a court, Child Support Agency or Child Maintenance Service arrears, money owed under a criminal confiscation order, debts you build up through fraud, debts resulting from certain personal injury claims and budgeting or crisis loans.

How long will it last? You will be discharged from your debts after one year.

How it works

You can apply to the official receiver for a DRO on a special online application form with the help of a money adviser who has been appointed as an approved intermediary.

You will be eligible if: you are unable to pay your debts; you have £75 or less spare income each month after you have paid your normal household bills; your total debts are £30,000 or less; your total assets are worth £2,000 or less; and, if you own a car, this is worth below £2,000. You cannot apply if you have had a DRO in the last six years. If you do not live in England or Wales (or have not lived or run a business in England or Wales in the last three years), you cannot apply.

If your application is successful, most types of debt will be written off after 12 months. 

A DRO could be a good option if you rent your home, have few assets and little spare income.

QUOTED FROM National Debt Line 
https://nationaldebtline.org/fact-sheet-library/ways-clear-your-debt-ew/

am I confused cos she posted about her current debt that does not have a ccj

Lottie_Dottie_

This is a different debt to the CCJ - I have found that Drydens set tight deadlines and move fast to a CCJ - I don't want another one. I don't qualify for a DRO - I'm aiming to settle most debts over the next couple of years. This is my first go and I wasn't sure what to start at. I could go to 40% if necessary but would prefer lower

sourcrates

County court judgements are not granted at the whim of the creditor, you have the chance to defend any claim, or stop it progressing to a claim by agreeing terms when an LBA is sent.

Lottie_Dottie_

The CCJ was completely my own fault - I had a lot going on, ignored a couple of letters and the CCJ was the result. It was a lesson learnt and I'm trying to do better. I've offered 20% of the debt but reckon they will counter offer - or maybe not. Ideally I'd like to clear them all

Lottie_Dottie_

Update - Drydens have replied asking what I'm offering to other creditors. I'm not offering anything thing to other creditors but I do have a smaller debt with Drydens (£450) and a CCJ of £7500. Is it possible to offer just one settlement ? That was my plan. Or do I have to do them all in one go, but I know I'll need more than £650!

As ever, thanks