Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Tidymind
    • By Tidymind 13th Jan 19, 11:02 PM
    • 2Posts
    • 0Thanks
    Tidymind
    Offering settlements
    • #1
    • 13th Jan 19, 11:02 PM
    Offering settlements 13th Jan 19 at 11:02 PM
    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
Page 1
    • Gary_Dexter
    • By Gary_Dexter 13th Jan 19, 11:20 PM
    • 3,100 Posts
    • 1,791 Thanks
    Gary_Dexter
    • #2
    • 13th Jan 19, 11:20 PM
    • #2
    • 13th Jan 19, 11:20 PM
    It will still be from the date of default
    • Willing2Learn
    • By Willing2Learn 13th Jan 19, 11:24 PM
    • 1,977 Posts
    • 1,538 Thanks
    Willing2Learn
    • #3
    • 13th Jan 19, 11:24 PM
    • #3
    • 13th Jan 19, 11:24 PM
    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

    • Gary_Dexter
    • By Gary_Dexter 13th Jan 19, 11:27 PM
    • 3,100 Posts
    • 1,791 Thanks
    Gary_Dexter
    • #4
    • 13th Jan 19, 11:27 PM
    • #4
    • 13th Jan 19, 11:27 PM
    Depending on what the debt is for as not all debts require a CCA.
    • Willing2Learn
    • By Willing2Learn 13th Jan 19, 11:28 PM
    • 1,977 Posts
    • 1,538 Thanks
    Willing2Learn
    • #5
    • 13th Jan 19, 11:28 PM
    • #5
    • 13th Jan 19, 11:28 PM
    Depending on what the debt is for as not all debts require a CCA.
    Originally posted by Gary_Dexter
    Yup, It does apply for most non-secured non-priority debts though
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Tidymind
    • By Tidymind 14th Jan 19, 4:01 PM
    • 2 Posts
    • 0 Thanks
    Tidymind
    • #6
    • 14th Jan 19, 4:01 PM
    • #6
    • 14th Jan 19, 4:01 PM
    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?
    • zx81
    • By zx81 14th Jan 19, 4:02 PM
    • 20,122 Posts
    • 21,474 Thanks
    zx81
    • #7
    • 14th Jan 19, 4:02 PM
    • #7
    • 14th Jan 19, 4:02 PM
    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.
    • sourcrates
    • By sourcrates 14th Jan 19, 5:05 PM
    • 16,171 Posts
    • 15,292 Thanks
    sourcrates
    • #8
    • 14th Jan 19, 5:05 PM
    • #8
    • 14th Jan 19, 5:05 PM
    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.
    Originally posted by zx81

    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.
    Last edited by sourcrates; 14-01-2019 at 5:16 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly". I have extensive experience of debt, and itís solutions, as well as the collection industry in general.

    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,397Posts Today

8,861Users online

Martin's Twitter