Paying off DMP running over 13 years old

24

Comments

  • Debtfreewannabe1
    Debtfreewannabe1 Posts: 14 Forumite
    Just an update.

    Please be blunt and tell me what i should expect if you think i have set myself high expectations.

    Balances are now down to a total of 15k. Im still paying this debt management company until I have sorted out what I am doing. I am only doing it for convenience (dons tin hat) dont want to upset the applecart by not paying just yet.

    Oh before anyone screams at me yes it could be half of that had i not used the DMP company lesson learned there!

    I was talking to someone and then subsequently researched this. Would anyone challenge the debt being unenforceable due to them being taken up prior 2007 doing a CCA request?

    Im confused on how that would work and should I try it? Dont know how much that would upset things? Just confused.
  • fatbelly
    fatbelly Posts: 20,457 Forumite
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    Credit cards and loans are consumer credit act debts so you are entitled to make s77-79 requests on them.

    https://www.nationaldebtline.org/EW/factsheets/Pages/getting-information/credit-agreement-advice.aspx

    Do them properly and see what comes back
  • sourcrates
    sourcrates Posts: 28,844 Ambassador
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    Its one of your statutory rights to ask for this information.


    If, a creditor cannot produce what they are supposed to produce, the debt may be unenforceable.

    After you make the requests, the consumer credit act allows 14 days for compliance, after this time your accounts are automatically unenforceable in court until such time as they respond to you, however long that may be.

    So always worth doing.
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  • Debtfreewannabe1
    Debtfreewannabe1 Posts: 14 Forumite
    sourcrates wrote: »
    Its one of your statutory rights to ask for this information.


    If, a creditor cannot produce what they are supposed to produce, the debt may be unenforceable.

    After you make the requests, the consumer credit act allows 14 days for compliance, after this time your accounts are automatically unenforceable in court until such time as they respond to you, however long that may be.

    So always worth doing.

    Some research I have read seems suggest once time has expired people have stopped paying until they comply.

    Is that true?

    Should I go down that route?
  • fatbelly
    fatbelly Posts: 20,457 Forumite
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    Yes that's definitely an option.

    However, if they come up with the paperwork at a later date the debt does become enforceable.

    You could use that opportunity to suggest a small settlement deal, which is what you posted about in the first place.
  • Just_Di
    Just_Di Posts: 385 Forumite
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    Debtfreewannabe1 wrote: »
    I have 3 creditors, Cabot (Egg) 2x Wescot (Lloyds credit card 7 loan)

    Was the ex-Egg debt originally a loan or credit card (portfolio purchased by Barclaycard in 2011)?

    And is the current owner Cabot Financial Ltd., Cabot Financial (UK) Ltd or Marlin etc. It may matter.

    Are you sure the other two accounts are still with Lloyds not assigned to a debt purchaser because that's not always obvious when you're in a DMP especially if the same DCA carries on managing the account for the next owner ?

    Was there PPI on any of these three accounts, or indeed on any of your other debts which you have now paid off? Or have you only ever had three debts in this DMP?

    My feeling is negotiation is best conducted from a position of strength, so sending the s 77-79 CCA Requests to see if the debts are actually enforceable makes sense.

    Di
  • Debtfreewannabe1
    Debtfreewannabe1 Posts: 14 Forumite
    edited 13 October 2018 at 8:58PM
    Im looking at all options now. Just want to pay back what is rightfully due. I know at some point I have been stung with stupid amount of charges for defaulting and interest added to the top before the interest stopped
    Just_Di wrote: »
    Was the ex-Egg debt originally a loan or credit card (portfolio purchased by Barclaycard in 2011)? Loan

    And is the current owner Cabot Financial Ltd., Cabot Financial (UK) Ltd or Marlin etc. It may matter. Cabot financial (europe) limited

    Are you sure the other two accounts are still with Lloyds not assigned to a debt purchaser because that's not always obvious when you're in a DMP especially if the same DCA carries on managing the account for the next owner ? - I get lloyds statements but managed by westcot bit confused there

    Was there PPI on any of these three accounts, or indeed on any of your other debts which you have now paid off? Or have you only ever had three debts in this DMP? - need to check these thanks

    My feeling is negotiation is best conducted from a position of strength, so sending the s 77-79 CCA Requests to see if the debts are actually enforceable makes sense.

    Di
  • nortong
    nortong Posts: 122 Forumite
    First Anniversary First Post Combo Breaker
    sourcrates wrote: »
    You could of had the same piece of mind for free with a debt charity.

    Lesson learned me thinks.

    Why not give them a piece of your mind so that you can have some peace of mind?
    ;)
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    nortong wrote: »
    Why not give them a piece of your mind so that you can have some peace of mind?
    ;)

    Hmm - sourcrates may not have the best grammar skills and the use of 'of' instead of 'have' can be infuriating but I wish that I possessed half of his knowledge and willingness to help others in dire need of advice - as he consistently and tirelessly portrays.
  • nortong
    nortong Posts: 122 Forumite
    First Anniversary First Post Combo Breaker
    edited 22 January at 3:51PM
    [quote=[Deleted User];74918014]Hmm - sourcrates may not have the best grammar skills and the use of 'of' instead of 'have' can be infuriating but I wish that I possessed half of his knowledge and willingness to help others in dire need of advice - as he consistently and tirelessly portrays.[/QUOTE]

    It's a fair cop, guv!
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