Need to make final payment offers after years of paying my debts off - can no longer afford them..

[dazza3956]

hi

i'm in a lot of debt and have been struggling for a long time juggling debts.

it's come to a point now that i can't cope.

i've been paying what i can afford but it's nowhere near what i'm supposed to pay.

i'm in two minds whether to go for an iva

 

but was wondering if i could offer a lump sum as final payment to the creditors .

i can get money from my pension but it's only half of what i owe .

 

i've only been paying minimum payments for years but now with all this covid and other things going on the last three months i've only been able to pay what i can afford .

 

would it be a good idea to offer a final payment in hope they will accept it.

 

all the debt is with credit cards

thanks in advance.

 

[dx100uk]

who says they are even enforceable.

as you've been here since 2007 and have many threads

i will gather you have already sent each debt owner a CCA request?

 

dx

 

[comebackjimmy]

Dazza a few months ago I discovered a good friend of mine who had ten debts with cards and catalogues which he was slavishly paying off at detriment to his own family quality of life, and I mean hardship, not just absence of second holidays or flat screen TV's.

 

I wrote to all his creditors asking for supporting documents and not one could provide any material that would allow them to enforce the debt.

 

As a result he stopped paying and they have been unable to do anything, one even admitted it was unenforceable.

 

If circumstances have got to the point where you are finding it unmanageable you must ask yourself why you feel the need to pay.  I guarantee you that these companies have built bad debt into their business model and no one over there is losing any sleep over your debt to them!  They will see you as a victim and cash cow and they will be reluctant to discuss final offers, only ways to keep you paying with threats of court action or seizing your assets if you have any.

 

They are not your friends and you owe them no loyalty or moral duty, that must remain only for yourself and your family.

 

If it was me I would send them all a CCA request.   I would bet that not one will provide the correct response and you can quite legally stop paying them until such time as they do provide a response.   Even when they do you should check back here as they mostly send dodgy photo copies or generic rubbish that has no connection with your supposed debt.

 

The money you are paying them should, as far as you are able, be put to a savings account for yourself and as a means of paying of one of these fleecers should they ever manage to get to to the point of a successful court judgement.  After six years they will not be able to start court action and that money will then become yours.

 

They will of course pursue you for the funds and pass your file around various departments of their business and out to third parties.

 

Your response is that you should treat it as a hobby.  I have numerous files of correspondence each faithfully organised showing the various letters from different DCA;s , solicitors etc with a mix of threats, inducements and offers.   It is like my stamp collection and I show it to anyone who is interested!

[BankFodder]

... and if you picked up all of these tips from the CAG – tell your friend he should make us a donation!!!   

[BankFodder]

 

Sent them all the CCA – and when you find that they're not enforceable, you can pay the lump sum to us!  

 

Oh how we laughed.

[comebackjimmy]

Bank fodder you are forcing me to go out to my car and find my wallet so I can punch in my card numbers.  Not even my thread!

[BankFodder]

No I suggested that your friend should do it if he has taken the benefit of all the years of wisdom from this website

[comebackjimmy]

I sent a tenner Bankfodder. My friend is not going to do it, he is hanging on for grim death just now.

 

I am hanging on for Death but not the grim part so welcome to my tenner.

[BankFodder]

Well I hope you realise that it was only meant to be a joke – but of course we are very grateful – I'm quite embarrassed now.

However, maybe I should go round to everybody's threads making similar jokes.!

 

Anyway, when your friend is in a better position, we'll help you make a small claim against him to get your money back plus interest.

 

And, thanks by the way. We've received it.

[comebackjimmy]

No need to be embarassed Bankfodder.  I get an enormous amount from this site and happy to contribute a bit of dollar along with the occasional encouragement to needy people.

[dazza3956]

thanks for your replies.

i haven't sent any cca requests .

the threads from before were debt for my wife mostly and i never  thought i'd be in this position again but i am .

thanks 

 

could someone guide me to the template letters . can't seem to find them .

i know they used to be on here but can't find them anywhere.

thanks

[dx100uk]

but the same advice then applied to your debts then too....

 

stop being a cash cow.

get those CCA request off! click the link<<

 

list your debts please

 

type of credit

when taken out

how much owing

original creditor

defaulted date

IF DCA now Dealing and name them