Debt Collectors - What Next?

X-man

My mum took out a joint loan out last August with my father who unfortunately passed away in September, leaving mum to repay the loan.

Due to her financial situation since my fathers death, she cannot afford to make any repayments on the loan. The loan was with the Bank of Scotland and then passed to their debt collection agency Blair, Oliver & Scott who are now at the stage of telephoning numerous times a day.

I’ve contacted them and also sent letters explaining her current financial situation and asked them to stop phoning her. As a last attempt to get them off her back, I offered to pay 50% of the outstanding balance in full and final settlement, otherwise they will have to pursue the debt through the county court.

They refused the offer and stated that they would now pass the debt on (as is their protocol). My question is: What are we to expect now? I assume yet another barrage of phone calls will follow from a different DCA, or will they take a tougher approach and if so, what?

Broken_hearted

Change the phone number. We have been dealing with BOS and not had anything like this, they take £5 a month on a debt of over £3,000, their idea of a F&F figure is £2,500.
Don't let them get to you, inform them or any DCA you deal with to only contact in writing. Send a full SOA with payment offer in and as long as you are doing all you can they are pretty toothless. All words and no action.

fermi

If the debt has been passed (or even sold) to an external DCA you may find they are more likely to accept a F&F offer. They will normally turn it down at first, but it can be worth persevering.

Factsheet | Full & Final Settlement offers

As said, DCA's are or bluster than action.:rolleyes:

X-man

Thanks for your advice. I have sent SOA's to both Bank of Scotland and Blair, Oliver & Scott, showing greater out-goings than income. I offered a full & final settlement payment but they refused. I'm concerned that they (Blair, Oliver & Scott) will now pass the debt on to some other DCA who may take a much tougher approach to try and recover the debt............

Ames

In my experience as it gets passed on the dca's become more approachable and understanding, the well known ones ignored my £1 offers and sold it on to ones who then accepted them. I think it's because as it gets passed on they pay less to buy the debt and so they can take less for it and still make a profit.

X-man

Following on this thread, my mum has now been contacted by IQOR Recovery Services who are really abrupt and trying to pressure her into making payments she cannot afford. Once again, I've forwarded a statement of her account, showing income and expenditure, which clearly shows she cannot afford any monthly repayments at present. I also forwarded a letter requesting them to cease all phone calls and for future correspondence to be in writing.

Once again I've offered to pay 50% of the debt in full and final settlement but haven't heard anything yet. Would it be worth sending an official offer letter to them?

chevalier

I take it that there was no estate left, from which your fathers half of the loan, if you like, could have paid?

Also no PPI or other insurances tied to the loan?

Just trying to think of ways of getting them off your back.

Sorry for your loss
chev

chevalier

ps I take it that they have a copy of the death certificate? Just thought that if they did, maybe they would be a bit more compassionate. Then I remembered that I was talking about DCA's so maybe not.

chev

skylight

Please change her phone number. Its not worth it at all. She has just lost her husband and they are possibly playing on that while she is still vulnerable.

And its not something that you need either.

X-man

No estate, no PPI or other insurances unfortunately. This issue needs resolving asap and although mum is vulnerable at the moment, I will give her all the help and advice (with the help of you guys) that she needs to resolve it. This is the only debt she has ever had (other than the mortgage) and is unable to repay, so all this DCA is new to us both but we're learning fast..............

itsnever2lateisit?

Hi x-man, might I suggest that your mum sets up a standing order for a nominal amount that IS affordable. This shows intent to pay. Do this as well as the things you are attempting. Although it can be a worry it might be a better outcome if a DCA grew a pair and took her to court. If she demonstrates to the court that she is paying, and hands in her statement of affairs the court wont award the DCA more than she can reasonably afford. This is why DCAs bully and harass, because they know that a court award will mean it takes longer for them to get the money