DMP - Plan

ManyWays

There is nothing you can do to make a lender sell on a debt.

Have you looked at affordability complaints, especially about the two loans that haven't been sold on? And Monzo Flex if PRA come back with the CCA?

Starfish75789

That's fine…just wanted to make sure I hadn't missed something. Thank you for responding.

I have put complaints in for all of them and even escalated for an ombudsman decision as they initial response was in favour of creditor. Frustrating as they don't look at the big picture. Just I had no markers, I paid everything on time and therefore all the data showed I could afford it. Even argued that I had larger loan with same provider, shuffled debt etc….. I shuffled and carried on my ways as I thought I could now afford it…until I couldn't. Lesson learnt, changed my ways and now just trying to find the best/quickest way to move on.

Rob5342

Best and quickest are somewhat contrary terms when it comes to settling debts. To get the best offer you really need to play the long game, make an offer and then try again in 6+ months time if they don't accept.

Someone mentioned in another thread that PRA are desperate for money at the moment and that now may be the time to strike if you want to make a settlement offer. Of course they might not be able to find the CCA.

Starfish75789

So just for info I went on their webchat and PRA offered me 50% off payable over 6 months. Was too much for me but was interesting to see how quick they offered that. I went in with 20% but they wouldn't budge on the webchat so I ended it….long game it is at the moment.

Blackcat71

Morning,

The 2 debts below are with PRA and I have just tried to settle with a very poor discount applied to my 2 accounts, I wondered if anyone could comment or advise.

Thanks for your reply regarding my settlement offer, you have given me a discount on the balance owed of 5% on x and 17.5% on y, which is a very small percentage discount.

A family friend has offer a payment of 45% or £6576.92 of the remaining balance and he will offer a further 5% making the payment £7307.68 which is 50% of the outstanding balance.

We have been paying off this debt for 16 years and never missed a payment, I am 71 and my wife 68, we are now pensioners and feel the offer is a fair payment, looking at comments I can see you have settled accounts for less than our offer so I hope you will consider our offer and accept, if not we will have to remain on our existing plan. We would make the payment within 10 days and in one payment

ArtyJ931

https://forums.moneysavingexpert.com/discussion/comment/81973043#Comment_81973043

16 years? How much are you paying them every month?

Blackcat71

Hi, I am paying them £98 a month for both acccounts.

sourcrates

@Blackcat71 Do you know what a CCA request is?

Please read here, as Debt Camel explains the process well:

Debts - why, how & when to ask for the CCA agreement · Debt Camel

Its your statutory right under sec 77-79 CCA to ask for a copy of your credit agreement, if one cannot be provided, the account is rendered unenforceable, and you may not have to pay them.

Rob5342

You should definitely ask for the CCA, if they can't produce that then you csn simply stop paying it. Don't be afraid to play hardball either, they'll try every trick in the book to try and deceive you so don't be afraid to play them at their own game (make up something about a one off gift that you can only use for the first company that accepts or something like that)

Blackcat71

I have asked PRA for a CCA, not heard anything back yet,

I have looked at the discounts given previously to others with PRA and CABOT and they are significantly lower than my first and second offers, to be honest I was offering 45% and they came back wit 70% and 75% with CABOT, PRA were 95% and 85% which was ridiculous after paying the lender and these two companies for 16 years. They will have bought them for peanuts perhaps 10% or 15%, its very depressing, yes I incurred the debt lost a fortune using cards on stock market but trying very hard to do my best to settle, aged 71 and wife 68 so both pensioners, a family friend is happy to gift me the agreed figure. Stressful isnt the word, I'll keep trying.