Full & Final Settlement advice

[GUnder]

I know it has been a while since updating this post but I had written to all creditors asking them to write off my debts and wanted to give them some time to respond.

 

 

One has agreed and another is still looking into my request.

Three of them I have written to offering approx 20% and I am currently waiting on a response.

 

This leaves me with two that I am looking for further advice on:

 

Lloyds Loan

- this was with Westcot who (after requesting the credit agreement) have passed it back to Lloyds.

Payplan have told me that they will pay the money to Lloyds

but should I still be paying it or do I stop the payments until I hear from Lloyds?

 

Intelligent Finance - they can't send me the original credit agreement

however have sent some sort of mock-up agreement.

How do I stand with this?

 

I am looking to take over the DMP from Payplan myself as I don't feel they are much help

(they told me I couldn't consider F&F payments without at least 80% of what I owe)

 

 

I need to get a good understanding of how my credit file works etc before making any changes.

These debts all dropped off my file years ago,

if I suddenly stop making payments to any one creditor,

can the debt re-appear on my file?

 

I really appreciate all of your help so far & look forward to your replies.

 

Regards

 

G

[dx100uk]

I know it has been a while since updating this post but I had written to all creditors asking them to write off my debts and wanted to give them some time to respond.

 

 

One has agreed and another is still looking into my request.

 

Three of them I have written to offering approx 20% and I am currently waiting on a response. - did you send them a CCA request FIRST? [if applicable?]

 

This leaves me with two that I am looking for further advice on:

 

Lloyds Loan

- this was with Westcot who (after requesting the credit agreement) have passed it back to Lloyds.

Payplan have told me that they will pay the money to Lloyds

but should I still be paying it or do I stop the payments until I hear from Lloyds? - CCA to LLoyds if wetcloths didn't fwd it on?

 

Intelligent Finance - they can't send me the original credit agreement

however have sent some sort of mock-up agreement.

How do I stand with this? - scan up what they have sent please to ONE multipage PDF [upload clickme]

 

I am looking to take over the DMP from Payplan myself as I don't feel they are much help

(they told me I couldn't consider F&F payments without at least 80% of what I owe)

 

I need to get a good understanding of how my credit file works etc before making any changes.

These debts all dropped off my file years ago,

if I suddenly stop making payments to any one creditor,

can the debt re-appear on my file?

 

I really appreciate all of your help so far & look forward to your replies.

 

Regards

 

G

 

 

they cant come back if they've already Dropped off.

 

 

dx

[fletch70]

Hi

I hope all is going well

 

Just some advice from my experience

I stopped paying all my debts in 2012 after sending cca requests to them all. Some sent back compliant agreements but that didn't stop me. In fact I even wrote to a couple suggesting that while st I did not acknowledge the debt, if they thought they had a case , do me a favour and make me bankrupt.

Non have taken me up on that

BUT

What I had in my favour was the fact I was on disability benefits and did not own any property or other assets . This is still pretty much the case and will be until at least July :2018.Therefore if they try anything, there is nothing to get. I believe that makes a huge difference in the way they behave.

 

Remember as well, even if they do not send a compliant cca , they can , and do, find one later . If you have stopped payments and they believe they will get anything they may start a claim.

 

I'm not trying to put you off, but you need to be aware

 

By the way, even if they send a fully compliant response to your cca request, if the account is pre Apr 2007 , if the agreement is flawed it may be unenforceable. What I mean is, they can send you a copy of a signed agreement that can still be unenforceable

[GUnder]

Thanks Fletch, some good advice I wish I had put in my 20% offers, all had sent a CCA hence the offers to them.

 

I will try & get the IF agreement mock uploaded.

[dx100uk]

follow the upload guide

scan them all into ONE MULTIPAGE PDF please

[GUnder]

I have now finally repaid all of my creditors & want to put up what I did in case it helps someone else.

 

1. I wrote to all creditors asking for copies of credit agreements and statements

2. I reclaimed £2000 in PPI from Llouds & £250 in bank charges from them

3. I then wrote to all creditors asking them to write off my debt - Hoist were the only one to agree

4. Next, I wrote offering just under 20% of what I owed to the rest & this is how I got on:

 

Company Balance Accepted %

Hoist £8903 £0 0.00%

Apex £7,200.73 £2854.46 39.64%

Barclays Bank Plc/EGG £1,122.45 £446.968 39.82%

HBOS - New Record £8,448.40 £6250.71 73.99%

Lloyds Bank plc £2,681.15 £1328.56 49.55%

NCO Europe Ltd £1,087.70 £194.76 17.91%

PRA Group Ltd £1,240.48 £491.716 39.64%

 

30,683.91 11567.1815 37.70%

 

HBOS were by far the most difficult to deal with. They would only respond to my letters if they were sent recorded & they just wouldn't budge.

 

I realise that some will say that I shouldn't have paid any & fought them all the way but I now don't have to worry about letters arriving through the door, phone calls, my employer finding out etc.

 

Thanks everyone for all of your help.

 

Joining this forum gave me the confidence to tackle this.