20 yr Old debts

DUNITECNO

Been in dmp since 2006 all debts had defaulted by 2007 
clear of my credit reports now but still owe 14000 due to end in 4 yrs 
wish to know what discount I may get to pay all off them most individual debts of the total i range from anything from 100 pounds owing to largest of 1200ish split between 8 debt company’s many been sold multiple times looking to settle with help from family to rid them all 

DUNITECNO

All These are all defaults that were recorded in my case that date back to 2007 as default dates so none now on credit files but still pay via dmp
Were originally gradually sold many times since then to various debt company’s 
around 33 debts now all been sold to around 7/8 that hold all so question is for example if one company owns 10 or 12 of these alone how do u negotiate that as said above if one em owns collectively all of so many can they seek court action even they are all separate debts so to speak ? Should one just stop paying 
how would one approach making offers in this respect given one debt out fit for example May own 12 debts equating say 6000 pounds or so 

ManyWays

These are such very old debts that you may get a lot of good results by asking the lenders to produce the Consumer Credit Act agreement for the debts as this article explains (it has a link to the letter you should use to ask for this)  https://nationaldebtline.org/get-information/guides/credit-agreements-getting-information-ew/. If the debt collector cant produce the CCA, you can stop paying as they cant take you to court

Then in a few months time think about settlement offers on any debts whether they did produce the CCA.  

DUNITECNO

Thanks for rapid reply 

just to clarify as I posted for example if one debt company owned 10 or 12 of these alone how would one negotiate down given they own so many?
 could for example they seek court action even though  they are all separate debts so to speak
example -  say 12 owned by one debt outfit ? Assuming then they produced cca for most that is 
if this were the case
 even though they all individual debts  from any thing like 300 to 800 pounds
Could they all end up being viewed by the debt co as one debt for all equating say 4/5k and then could they seek ccj collectively on all rather than have to be taken with an individual view?

RAS

The absence of a debt from your credit record does not prevent them applying for a CJJ because you have been acknowledging these debts for the last 10-15 years by making payments.

However, the creditors need to supply the required documentation and if they can't do that, then you defend any court action by reminding of their failure. 

So use the link above to find out if any of the debts are enforceable. If not, stop paying. 

I'm really surprised whoever's managing your DMP hasn't raised this before. Who is helping you?

Have they ever discussed a DRO or write-offs with you, as these might be options.

DUNITECNO

I'm really surprised whoever's managing your DMP hasn't raised this before. Who is helping you?

Have they ever discussed a DRO or write-offs with you, as these might be options.

Been approached by them few time re:
dro
iva etc but have maintained payments for all of these years without need for this with original debts totalling over 87k
now down to roughly 14k
only have bout 3.5 yrs left but looking to remortgage 
soon end of next year so want rid of all where possible 

DUNITECNO

Am skeptical as to potential of creditors having the cca
some may though as all statements they send over years mention original accounts that were held with respect to credit cards / loans etc inc account nos 
so me thinks they could well have them ?
others one company for example changed hands some time back in 2021 and they no longer send me 6 month or yearly statements 
some send statements but don’t refer to original lender but just last debt co that sold it to them 
I can see that all debts are being repaid pro rata via my dmp over all the years in question though 

RAS

Who has been advising you? A debt charity like Stepchange, national debtline or a debt company? 

If you've paying down the mortgage for years, you'll may have too much equity to qualify for an IVA. And as a mortgage owner you don't qualify for a DRO.

With more information:

These debts are OLD. They should not show up on your credit records so cannot affect your mortgage. But it's worth checking all three of your credit records, which can be done free of charge. Report back on any AP markers. And then head over to the mortgage forum here where there are some really helpful people who advise voluntarily.

A good many of the creditors will not have the supporting paperwork needed to enforce the debt. Likely you could halve what you owe easily by writing those CCA letters, go back to ManyWays' link.

Any that do come back valid may well offer you a settlement figure. Remember, they paid £200 for that £2k debt, so if you'll cough up £100 to clear the remaining £200, they are quids in because you've already paid off most of the £2k.

If valid debts don't suggest a settlement figure, After a few months, offer 25% and see what happen. 

Hopefully you render dead or settle this lot for £5k ish.

DUNITECNO

Not sure the dmp will ask them on my behalf though as I have the impression they would want me to continue payments thereby to their and creditors advantage for all moneys outstanding 
I have had letters in past from some offering 20/30 percent discounts to settle  
was never in position though for this 
interestingly the dmp were aware but never contacted me over this 
they have recently with couple of very small debts where debt company’s have not for same ones 
so I think they may have had many reduction offers sent to them that were never sent to me and they have declined to let me know 

DUNITECNO

So am not feeling like I could trust them to achieve much here at all somehow 
hence the predicament 

DUNITECNO

Thanks RAS some great helpful info their 
Q?
would u stop the payments to dmp prior asking for cca s or continue ?
also if payments stopped would that alert dmp to contact all debt owners rapid to seek action etc