Partial Settlement Offers, one refused, enough to pay another one in full

Autumnia

Hello, 
I am on a DMP with 3 loans and offered the same percentage to the 3 of them for full and final settlement. 
1 of them refused my offer and asked for a higher percentage. 
As they refused, it means the share I have offered to them would be enough to pay one of the debts off completely. 

Can I pay off a debt in full with the money I had offered to another creditor to refused it? I read the creditors are a bit funny and should be offered the same percentage, and if I do pay one of them in full (as I have the money), it would mean that I would give them 100% of what is left to pay (this debt is enforceable, not the other 2). 

Could you please advise? Is the DMP going to be funny that I did it myself and that one would be paid off and not another? I am currently paying them all £1 each via the DMP. 

Sorry if this is a stupid question. 

Grumpelstiltskin

OK who is your DMP with?

Have the debts defaulted?

Who are the creditors?

Why are you paying £1 to each?

The answers to these questions will give us a start.

Autumnia

Hello, 
DMP is payplan
The 2 unenforceable ones have been defaulted since 2021. The one I can pay off hasn't been defaulted yet, it doesn't appear on my credit file
Creditors:
Intrum: Unenforceable as unable to provide cca - Said they'll get back to me about my offer
Link: Unenforceable as unable to provide cca  - Refused my offer and offered a 60% instead which I can't afford
Lowell: Enforceable - Only £400ish left to what I owe. 
I am paying £1 each as husband got made redundant a few months back and this month I had my mortgage rate increasing + an unexpected invoice which is basically taking what I was paying the 3 loan companies to pay each month.

Link having refused my offer, I could use the money they refused to add it to Lowell to pay off everything I owe to Lowell. Can I do that? 

agentblackcat

Hi. 

If debts are unenforceable I would not be paying anything towards them at all. Focus on paying off the one that is. 

Grumpelstiltskin

OK the 2 unenforceable debts stop paying them.

The enforceable one, £400? offer them 10% you never know.

Autumnia

Thank you both for your help. 

The thing that is worrying me about stopping paying them is that if they ever managed to find the paperwork in 3-6months or years later, what can happen? 
Could they just take me court or ask me to pay in full by a certain date considering I had stopped paying them while the debt was unenforceable? 
I had requested the CCA in October/November 2024 and received a letter from one of them in december to tell me the documents weren't available and the second one told me end of october and confirmed again in February from this year saying the original creditor couldn't comply with my request so my account is unenforceable. 

Intrum had also said first that they could put my account on hold while my account is under investigation, which I stupidly didn't get back to them to tell them to do so, my mistake as had a lot going on. But now that they confirmed they couldn't provide me with the paperwork they say that they are still in their rights to ask for repayment. 
Why do they offer to stop collections while they investigate and then once they know it is unenforceable they still ask for repayment and tells me the contract was broken because I reduced my payment a few months back? 

Grumpelstiltskin

Yes they can ask you for a payment but if you said no they know they can't do anything.

If the unenforceable ones managed to find CCAs then they would have to let you know and if they decided to apply for a CCJ they would have to go through the legal actions, firstly send you a letter before action and that would give you chance to pay them before any action.

Honestly stop your DMP and hang on paying nothing and see what happens, nothing will happen quickly and as I said see if you are threatened with a CCJ.

Autumnia

Thank you for your advice, when you say "that would give you the chance to pay them before any action": would it be any payment or would it be the full amount they request?

Ok I will stop my DMP, do I just email them to tell them I want to stop, do I need to give reasons? 

Grumpelstiltskin

You could make a monthly repayment offer that you could easily afford if it did get that far.

Just thank  Payplan and tell them you are self managing.

Keep posting if anything crops up you either don't understand or are unhappy with.

Autumnia

It was very helpful, thank you very much for your help! 

Autumnia

Just one more question, if the creditors that have unforceable debts tries to get in touch with me, what should I say to them? Should I ignore them or say anything specific?