Offering settlements
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Tidymind
Posts: 9 Forumite
Hi,
Just looking for some advice/information regarding my credit file.
I am currently on payment arrangements with my creditors, all but one of the accounts are showing as Default on my credit file and as I understand these will drop off my file 6 years from the default date, which is in approximately 3 years . I am thinking of offering some full and final settlement offers, if they accept an offer and change the account status to settled, will the 6 years start again from then?
Thanks
Just looking for some advice/information regarding my credit file.
I am currently on payment arrangements with my creditors, all but one of the accounts are showing as Default on my credit file and as I understand these will drop off my file 6 years from the default date, which is in approximately 3 years . I am thinking of offering some full and final settlement offers, if they accept an offer and change the account status to settled, will the 6 years start again from then?
Thanks
0
Comments
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It will still be from the date of default0
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Hi Tidymind,
Before you offer any F&F Settlements, make sure to make a CCA request for each debt first.
This will ensure that your creditors have the correct paperwork. If they do not have compliant paperwork, then you can use this to leverage lower settlement figures or alternatively not pay at all.I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
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Depending on what the debt is for as not all debts require a CCA.0
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Thank you for your replies. Do I have to pay to get the CCA or do I just ask for it, and what would they need to provide me with to be compliant please?0
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It's free.
They will supply you with a copy of the credit agreement. It doesn't need to be a photocopy or signed - it can be reconstituted.0 -
Deleted_User wrote: »It's free.
They will supply you with a copy of the credit agreement. It doesn't need to be a photocopy or signed - it can be reconstituted.
Well to be precise, its a £1 statutory fee for each relevant account.
Information and template letter can be found here :
https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx
What they are required to send you depends on how old your particular accounts are, if they date from before April 2007 then any credit card account agreement must include the prescribed terms in force at the time of signing.
For accounts after that date, that is no longer a requirement, a copy agreement does not have to be the original signed piece of paper, a reconstituted version made up from information held on file is acceptable, although if nothing is held, it cannot just be made up.
Some agreements fall down in other areas, so its always best to get someone with legal contract knowledge to give it the once over.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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