Part Settlement Offers

freddie2020

RAS said:

To reiterate, have you made CCA requests?

Any of the debts defaulted in the last 6 years?

Not yet requested them as of yet.

No all defaulted over 6 years - about 10 years

bcs7

freddie2020 said:

RAS said:

To reiterate, have you made CCA requests?

Any of the debts defaulted in the last 6 years?

Not yet requested them as of yet.

No all defaulted over 6 years - about 10 years

Requesting the CCAs should be your first priority.
If they can't provide them then the debt becomes unenforcable and you can stop paying until they produce the CCA. If they are unable to do this in 6 years, then the debt becomes statute barred and you no longer have to pay it.

As your debts defaulted over 10 years ago, there's a very high likelihood that the current creditors will not be able to get the original CCAs.

tigergambit

bcs7 said:

freddie2020 said:

RAS said:

To reiterate, have you made CCA requests?

Any of the debts defaulted in the last 6 years?

Not yet requested them as of yet.

No all defaulted over 6 years - about 10 years

Requesting the CCAs should be your first priority.
If they can't provide them then the debt becomes unenforcable and you can stop paying until they produce the CCA. If they are unable to do this in 6 years, then the debt becomes statute barred and you no longer have to pay it.

As your debts defaulted over 10 years ago, there's a very high likelihood that the current creditors will not be able to get the original CCAs.

You definitely need to request the CCAs now. Once you have done so suspend all payments until you get a definitive response. For those that can provide a CCA you can start a F&F process. Be aware that this can take several months and that as Sourcrates says you must have commitment in writing or by email that any payments clear the debts forever.

For those who won't play ball follow Rob's advice, recommence payments at a lower amount and try again in 12 months. You should aim to start at just over 20%. 

Further to my earlier post PRA have now supplied the paperwork so I've settled another at just under 23%. You can phone creditors but they will generally want to see an SOA first.

freddie2020

tigergambit said:

bcs7 said:

freddie2020 said:

RAS said:

To reiterate, have you made CCA requests?

Any of the debts defaulted in the last 6 years?

Not yet requested them as of yet.

No all defaulted over 6 years - about 10 years

Requesting the CCAs should be your first priority.
If they can't provide them then the debt becomes unenforcable and you can stop paying until they produce the CCA. If they are unable to do this in 6 years, then the debt becomes statute barred and you no longer have to pay it.

As your debts defaulted over 10 years ago, there's a very high likelihood that the current creditors will not be able to get the original CCAs.

You definitely need to request the CCAs now. Once you have done so suspend all payments until you get a definitive response. For those that can provide a CCA you can start a F&F process. Be aware that this can take several months and that as Sourcrates says you must have commitment in writing or by email that any payments clear the debts forever.

For those who won't play ball follow Rob's advice, recommence payments at a lower amount and try again in 12 months. You should aim to start at just over 20%. 

Further to my earlier post PRA have now supplied the paperwork so I've settled another at just under 23%. You can phone creditors but they will generally want to see an SOA first.

I read that somtimes creditors can re produce one - and use in court, if cannot get the origonal?

tigergambit

freddie2020 said:

tigergambit said:

bcs7 said:

freddie2020 said:

RAS said:

To reiterate, have you made CCA requests?

Any of the debts defaulted in the last 6 years?

Not yet requested them as of yet.

No all defaulted over 6 years - about 10 years

Requesting the CCAs should be your first priority.
If they can't provide them then the debt becomes unenforcable and you can stop paying until they produce the CCA. If they are unable to do this in 6 years, then the debt becomes statute barred and you no longer have to pay it.

As your debts defaulted over 10 years ago, there's a very high likelihood that the current creditors will not be able to get the original CCAs.

You definitely need to request the CCAs now. Once you have done so suspend all payments until you get a definitive response. For those that can provide a CCA you can start a F&F process. Be aware that this can take several months and that as Sourcrates says you must have commitment in writing or by email that any payments clear the debts forever.

For those who won't play ball follow Rob's advice, recommence payments at a lower amount and try again in 12 months. You should aim to start at just over 20%. 

Further to my earlier post PRA have now supplied the paperwork so I've settled another at just under 23%. You can phone creditors but they will generally want to see an SOA first.

I read that somtimes creditors can re produce one - and use in court, if cannot get the origonal?

Yes, they can but they need all the original details, dates, etc.  For a simple letter and the cost of a few stamps this could save you a significant amount. Apart from anything else you can stop payments until you receive a response, which helps build your fighting fund and gives you more thinking time.

sourcrates

freddie2020 said:

I read that sometimes creditors can re produce one - and use in court, if cannot get the original?

Its known as a "re-constituted agreement" and is a perfectly acceptable substitute.

However, they can only use details they already have on their systems, they cannot simply make stuff up, if they do not hold sufficient information to re-constitute an agreement, they are required to say so.

freddie2020

sourcrates said:

freddie2020 said:

I read that sometimes creditors can re produce one - and use in court, if cannot get the original?

Its known as a "re-constituted agreement" and is a perfectly acceptable substitute.

However, they can only use details they already have on their systems, they cannot simply make stuff up, if they do not hold sufficient information to re-constitute an agreement, they are required to say so.

OK thanks,

If I were to stop paying them under my DMP, until they produced a CCA.

Can they without any prior warning, start a CCJ case? (Have been paying under the 6 years)

Or would they have to give prior warning to starting court procedings?

My worry is, I stop paying - and then have a CCJ with no warning, as have defaulted on the agreed DMP repayment plan.

freddie2020

bcs7 said:

freddie2020 said:

Rob5342 said:

You could try phoning, you might have some luck but they can be stubborn. Saying it's their final offer is just a negoting tactic, they will be open another offer later. If you don't get anywhere then reduce your payments and try again in 6 months time, they are probably more likely to accept when they can see it will take a long time for them to get their money back. 

Have already been in a DMP for 10 years...
20% of the debt already paid off under DMP

Paying a small amount each month, would have to go to £1 per month to get any lower, to be honest...

Currently would take till 2067 to fully repay the debt.  

Sounds like you can't really reduce your payments any more so the only option is to keep paying the low amounts and try offering again in 6 months time.
Some creditors can be more stubborn than others and will wait longer to see if they can squeeze more out of you.
It can also depend on the size of the debt.
For example if you've got a £5K debt, you're paying £10 a month for (40 years) and you offer 30% (£1500) they're going to be thinking getting £1.5K would take over 10 years if you carried on paying £10 so getting that much straight away is tempting.
But if you've got a £500 debt, paying £1 a month, is going to take 40 years. You could offer 30% (£150) but they could think it's far more likely you'll be able to get hold of £150-£500, so they'll be more likely to hold out and not accept a low discount.

Thanks - I did notice that, ringing around creditors myself rather than going via PayPlan Settlement.

The larger debts (all with Lowell coincidentally)  - did offer 20% F+F

The lower amount creditors are not quite at £1 per month.

Should I contact PayPlan, and ask to drop all creditors down to £1 per month?
Surely the creditors are aware - by lowering payments and trying again later, might result in a lower F+F

sourcrates

freddie2020 said:

sourcrates said:

freddie2020 said:

I read that sometimes creditors can re produce one - and use in court, if cannot get the original?

Its known as a "re-constituted agreement" and is a perfectly acceptable substitute.

However, they can only use details they already have on their systems, they cannot simply make stuff up, if they do not hold sufficient information to re-constitute an agreement, they are required to say so.

OK thanks,

If I were to stop paying them under my DMP, until they produced a CCA.

Can they without any prior warning, start a CCJ case? (Have been paying under the 6 years)

Or would they have to give prior warning to starting court procedings?

My worry is, I stop paying - and then have a CCJ with no warning, as have defaulted on the agreed DMP repayment plan.

Accounts are generally put "on hold" whilst a CCA request is actioned, so no payments are necessary.

Making a request for information under sec 77 CCA, is a right granted to you under the consumer credit act and has no bearing on whether a creditor takes legal action against you or not.

If they did take action through the courts they would have to follow the civil procedure rules which starts with a letter before action, but this cannot happen whilst there is a dispute to be reconciled.

You will not have defaulted on DMP payments as these are made on a voluntary basis not under any legal or regulated financial agreement, sec 77 has been around since 1974, and is there for all and sundry to use at there discretion, you cannot be penalised for exercising your statutory rights.

freddie2020

sourcrates said:

freddie2020 said:

sourcrates said:

freddie2020 said:

I read that sometimes creditors can re produce one - and use in court, if cannot get the original?

Its known as a "re-constituted agreement" and is a perfectly acceptable substitute.

However, they can only use details they already have on their systems, they cannot simply make stuff up, if they do not hold sufficient information to re-constitute an agreement, they are required to say so.

OK thanks,

If I were to stop paying them under my DMP, until they produced a CCA.

Can they without any prior warning, start a CCJ case? (Have been paying under the 6 years)

Or would they have to give prior warning to starting court procedings?

My worry is, I stop paying - and then have a CCJ with no warning, as have defaulted on the agreed DMP repayment plan.

Accounts are generally put "on hold" whilst a CCA request is actioned, so no payments are necessary.

Making a request for information under sec 77 CCA, is a right granted to you under the consumer credit act and has no bearing on whether a creditor takes legal action against you or not.

If they did take action through the courts they would have to follow the civil procedure rules which starts with a letter before action, but this cannot happen whilst there is a dispute to be reconciled.

You will not have defaulted on DMP payments as these are made on a voluntary basis not under any legal or regulated financial agreement, sec 77 has been around since 1974, and is there for all and sundry to use at there discretion, you cannot be penalised for exercising your statutory rights.

Thanks - 

In terms of requesting a CCA - is best is to email?  (as have record of asking)  And will put into process holding the account / payments - WITH proof of asking.

And follow up again with phone call / letter?