Do I still have to pay?
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Firemonkey
Posts: 5 Forumite
- Hi, my first ever post, I have tried to search for this information in the search bar with no luck. I’m in a management plan with PRG group which was originally a debt with Santander, the debt has been sold a couple of times to different companies.
- The outstanding balance is approximately £4000, I’ve been paying it back for 12 years now. I had to lower the amount to £10 a month about 15 months ago and have paid it every month without fail. So my question is this, can this be written off? If so how do I go about doing that? Thanks in advance.
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Can you elaborate on your reasons for thinking it could be written off? Was the lending irresponsible in your view, or is your income so low that making payments against it is problematic and you have no prospect of ever clearing the debt? That might help people to make suggestions around how best to approach it, and whether you are likely to have an argument for it being written off or not.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00
Balance as at 31/12/23 = £112,000.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her1 -
You can ask them but you need to give a reason. No likelihood of your income increasing and affecting your mental health are sometimes reasons they will write it off. Or just stop paying the £10 a month. Presumably if you have been paying it for 12 years the default dropped off your file ages ago. Does it show up on your credit record?I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.0
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EssexHebridean said:A you elaborate on your reasons for thinking it could be written off? Was the lending irresponsible in your view, or is your income so low that making payments against it is problematic and you have no prospect of ever clearing the debt? That might help people to make suggestions around how best to approach it, and whether you are likely to have an argument for it being written off or not.
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enthusiasticsaver said:You can ask them but you need to give a reason. No likelihood of your income increasing and affecting your mental health are sometimes reasons they will write it off. Or just stop paying the £10 a month. Presumably if you have been paying it for 12 years the default dropped off your file ages ago. Does it show up on your credit record?0
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Firemonkey said:
- Hi, my first ever post, I have tried to search for this information in the search bar with no luck. I’m in a management plan with PRG group which was originally a debt with Santander, the debt has been sold a couple of times to different companies.
- The outstanding balance is approximately £4000, I’ve been paying it back for 12 years now. I had to lower the amount to £10 a month about 15 months ago and have paid it every month without fail. So my question is this, can this be written off? If so how do I go about doing that? Thanks in advance.
Trouble paying, ill health, old age, would all be acceptable reasons why a creditor would look to cut their losses.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
sourcrates said:Firemonkey said:
- Hi, my first ever post, I have tried to search for this information in the search bar with no luck. I’m in a management plan with PRG group which was originally a debt with Santander, the debt has been sold a couple of times to different companies.
- The outstanding balance is approximately £4000, I’ve been paying it back for 12 years now. I had to lower the amount to £10 a month about 15 months ago and have paid it every month without fail. So my question is this, can this be written off? If so how do I go about doing that? Thanks in advance.
Trouble paying, ill health, old age, would all be acceptable reasons why a creditor would look to cut their losses.
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Debts you have been paying can be pursued forever, the limitation act only applies to debts where no payment or written acknowledgement has been made in any period of 6 years.
If you want to get a debt written off on medical/mental health grounds then there is a standard form you fill in.
You would have to have some kind of supporting evidence obviously, Doctors letter, or copies of medical reports, you don`t give them access pur-say, you choose what you want to share with them.
Its not really a question of jumping through hoops, a few posters to this forum have had success with debt write offs just by sending a letter.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
Firemonkey said:enthusiasticsaver said:You can ask them but you need to give a reason. No likelihood of your income increasing and affecting your mental health are sometimes reasons they will write it off. Or just stop paying the £10 a month. Presumably if you have been paying it for 12 years the default dropped off your file ages ago. Does it show up on your credit record?I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.0
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enthusiasticsaver said:Firemonkey said:enthusiasticsaver said:You can ask them but you need to give a reason. No likelihood of your income increasing and affecting your mental health are sometimes reasons they will write it off. Or just stop paying the £10 a month. Presumably if you have been paying it for 12 years the default dropped off your file ages ago. Does it show up on your credit record?
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Firemonkey said:enthusiasticsaver said:Firemonkey said:enthusiasticsaver said:You can ask them but you need to give a reason. No likelihood of your income increasing and affecting your mental health are sometimes reasons they will write it off. Or just stop paying the £10 a month. Presumably if you have been paying it for 12 years the default dropped off your file ages ago. Does it show up on your credit record?
You should stop paying as you cannot afford it, at the same time write to them explaining the situation you find yourself in, explain about your health issues and anything else that is relevant.
In this country bad consumer credit debts are mainly collected by debt collectors who work in a call centre, if you are unlucky, and your creditor takes legal action, and you fail to defend the claim, get a CCJ and then don`t pay what you are ordered by the court, a county court bailiff is just one option for a lender to re-claim the money, but their use is very rare.
So from you stopping payment, there are an awful lot of stages to go through before even the possibility of a bailiff.
If you write and tell them of your health issues and ask them to make a commercial decision to write off the debt, then they will probably do so, forget about consequences which won`t happen, you just need to start the process.
Did you mean PRA Group now own your debt?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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