F&F offers

[Greeting]

Greetings to all

New to this site but not to my debt.

 

 

In a nutshell I borrowed beyond my means,

struggled for a while and robbed Peter to pay Paul and

then about 8 years ago I set up a DMP which I paid for 6 years.

 

 

During those 6 years all my creditors eventually stopped interest and I managed to half the balance to 28k.

 

 

Stopped paying DMP about 2 years ago and haven't paid a penny since.

 

 

The last 2 years have been a CCA request to each creditor followed by a constant flow of letters

being exchanged but

 

 

I'm now in a position where I want to put all these debts to bed and can offer my creditors a f&f settlement

but nothing close to the full amount.

 

 

The accounts all no longer appear on my credit file as they were defaulted whilst on my DMP

so in theory don't exist to anyone other than me and my creditors.

 

 

2 accounts have been sold to DCA's and the rest are still with the original creditor.

 

 

Could offer 25-30% in f&f.

Thanks in advance for any response

[dx100uk]

I'd be looking at ensuring all the CCA's are enforceable AND you've reclaimed everything you can FIST

before you even think of offering an F&F.

 

 

as it stands, you say they don't show, so good news there

they cant comeback and harm you!!

 

 

as this is the case I'd not be rushing to pay anyone

it wont 'improve' things for you...

 

 

could even be deemed as a waste of that money in a way...

 

 

all very nice to clear ones debts, but, there could well be other more important matters where the money could be put to better use......

 

 

dx

[Greeting]

Hiya.

 

 

Thanks for your interest and input.

 

There's nothing much to reclaim as the DMP Provider got interest stopped on all of them within 6 months

of being on the plan and I'm sure I didn't have PPI on any of them.

 

As far as I'm aware the only way that they can harm me now is through the CCJ route

so was guessing f&f ing the accounts would eliminate things and as a result improve things.

 

I'm just worrying as I'm reading stories of folk getting ccj's with sneaky dcas

and not knowing anything about them and only finding out at a later date

 

when they couldn't defend them and i'm wanting a mortgage soon so this would ruin that.

Thanks

[dx100uk]

if your cra file is upto date with your current address

 

 

there is NO excuse for a backdoor CCJ.

 

 

go have a holiday don't waste that money.

 

 

dx

 

 

 

 

dx

[Greeting]

Yeah everything is up to date on the credit files and a holiday sounds good to me!

Cheers for the words of wisdom you've certainly put my mind at rest.

Thanks

[Coughdrop]

F&F's are usually best made once an Assignment in Absolute has taken place - ie - the debt has been sold on.

 

 

This is because the OC offsets the debt against tax, so it's 'paid' in a way by the taxpayer.

 

 

They then make more money on it by selling it on for x pence in the £1.

 

 

If they pay say 20p in the pound, and you offer £30% F&F they've made a handsome profit.

 

 

If you do that to the OC, they lose money.

 

 

That's why it's best to wait for it to be sold on.

[mikeymack2002]

As with any F&F you need to make sure all fees have been reclaimed and that the debt is enforceable, Have you a completely up to date credit report to view? do any/all of these debts show up?

 

 

MM