Neck deep in debts

tylery

tylery said:

tylery said:

I received a letter from my defaulted loan creditor telling me to call them to negotiate and if i dont call in 72hrs they will pass the debt to a debt collection agency or solicitor..so my question is this which is the best option to negotiate with the original creditor or should i wait till the debt is passed to a debt collector and then negotiate with the DCA. I have 2 loans with the same creditor so waiting for a second default. 

Grumpelstiltskin said:

Do not contact them, the 72 hour thing is just an empty threat, wait for the second default.

The first default is now passed to debt collector. The second debt no default. I wonder why they are not defaulting the other debt which have a higher amount. First default small amount. I have now received a ANNEX 1 INFORMATION SHEET

Anyone to the rescue

sourcrates

Be kind to the environment and recycle it carefully.?????

Don`t overthink things, creditors move at their own pace, remember they have 100`s of thousands of customers, many more who miss payments, the system is all automated, its not like some bloke is watching a screen looking at your payment history.

The only thing you need take notice of is a letter before action, again, as we discussed previously, nothing else requires your attention.

tylery

sourcrates said:

Be kind to the environment and recycle it carefully.?????

Don`t overthink things, creditors move at their own pace, remember they have 100`s of thousands of customers, many more who miss payments, the system is all automated, its not like some bloke is watching a screen looking at your payment history.

The only thing you need take notice of is a letter before action, again, as we discussed previously, nothing else requires your attention.

So the annex letter requiring Financial Statement is nothing at all?

sourcrates

Ok, 

Everything that is happening is all geared up to get you to contact them and start paying the debts again.

Its called collection activity for just that reason.

You want your accounts to default, so I`ll just repeat this again, I know this is the first time you have experienced this, and not knowing what to expect, can be frustrating, but the only thing you need to take notice of is a "letter before action" again, nothing, repeat nothing, else that they send to you matters.

It would be different if you wanted to agree terms now, without defaulting, you could fill in all there silly bits of paper and show them your income/expenditure and pay what you could towards the debts, which would result in AP markers, and they may still charge you interest.

Now if that`s what you want fine, if on the other hand its defaults you want, then ignore all but what I said above, and just wait it out.

tylery

sourcrates said:

Ok, 

Everything that is happening is all geared up to get you to contact them and start paying the debts again.

Its called collection activity for just that reason.

You want your accounts to default, so I`ll just repeat this again, I know this is the first time you have experienced this, and not knowing what to expect, can be frustrating, but the only thing you need to take notice of is a "letter before action" again, nothing, repeat nothing, else that they send to you matters.

It would be different if you wanted to agree terms now, without defaulting, you could fill in all there silly bits of paper and show them your income/expenditure and pay what you could towards the debts, which would result in AP markers, and they may still charge you interest.

Now if that`s what you want fine, if on the other hand its defaults you want, then ignore all but what I said above, and just wait it out.

But the one i am talking about has defaulted already...

fatbelly

Have you actually received a pre-action letter?

It comes with Annex 1 information sheet and Reply Form You have 30 days ...

If so you need to follow

https://debtcamel.co.uk/letter-before-claim-ccj/

Tick boxes C and I and ask for everything it suggests

tylery

fatbelly said:

Have you actually received a pre-action letter?

It comes with Annex 1 information sheet and Reply Form You have 30 days ...

If so you need to follow

https://debtcamel.co.uk/letter-before-claim-ccj/

Tick boxes C and I and ask for everything it suggests

Yes i have received that...thats what i mentioned above although i have 2 debts with the same lender they have only defaulted 1 debt the smaller amount 

fatbelly

So you've received a preaction letter. You need to respond to it as i've said.

If you were intending to start making payments, now is the time

tylery

fatbelly said:

So you've received a preaction letter. You need to respond to it as i've said.

If you were intending to start making payments, now is the time

Ok thanx i will

tylery

I received county court paperwork, but the 30 days preaction have not lapsed. Help