Do i start to pay now?

Emmel

Stopped paying loans and CC’s 10 months ago. A few have now been sold on. Should i now start paying these ones? Plan was to pay minimal/token amount and continue to save in EF toward F&F.  Starting to get a little anxious now about having not paid anything and dont want any further action, taken to court. Largest amount is 15k (2 loans from same company sold and combined) other is a CC, Loan and overdraft with TSB bank for circa 13k, others are all under 10k each. I reside in Scotland if that makes any difference

Rob5342

If that was the.plan then now seems.like the time.to start paying the ones that have been sold. When it comes to making a settlement offer made sure you.a CCA request first to.see if they are enforceable.

Emmel

Thanks Rob, i have now set up some payments. Just need the TSB ones to be sold on and a Virgin credit card. The virgin card had weirdly been removed from my credit file so perhaps its now bern sold too

Kim_13

Shouldn't you check what's enforceable before paying a penny? As making a payment is acknowledging the debt.

EssexHebridean

Those you are now starting to pay have all been defaulted, just to check? 

Rob5342

Kim_13 said:

Shouldn't you check what's enforceable before paying a penny? As making a payment is acknowledging the debt.

That's definitely worth checking at some point but personally I'd wait until it had been with a DCA for a while, maybe 6 months or a year..DCAs have to go back to the original creditor for the CCA, and I've heard that there is often a limit on how long they will provide documentation for.

Emmel

EssexHebridean said:

Those you are now starting to pay have all been defaulted, just to check? 

Yes all my accounts are now defaulted. Cabot financial who have bought 2 of my accounts now appear on my credit report. But their default date is when they bought it rather than when the original default was (4 months earlier) is this right?

sourcrates

Emmel said:

 Largest amount is 15k (2 loans from same company sold and combined) 

Bingo - sold and combined, common tactic when debts are sold, so this debt never existed previously, as it was two separate loan agreements, each with there own agreement paperwork, now they have combined them to create a 3rd loan, you never agreed too, or signed any paperwork for.

As such, there will be no agreement for this loan, no paperwork at all, so if you make a request under section 77/79 CCA, they won`t be able to produce anything, and it will become unenforceable.

lillypoo

Ooo sourcrates that's interesting. What fab news for you emmel

Martico

Just stopping by to say - Sourcrates, you are a gem

Superhoopza

If a debt is unenforceable, being very basic here, presumably that means you don't have to pay, but if you don't then it still sits on your account beyond 6 years after default as it is not settled. Have I understood correctly?