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I have an Egg loan & Credit Card which, through a change in circumstance, I made token payments on (advice from National Debt Line). Egg agreed to take payment of £1/month against the Credit Card Debt for 6 months which I have done, but at the same time a phone conversation indicated that this would cover both the Loan & Credit Card.
I have received a letter from Direct Legal & Collections this week which states that they are collecting the outstanding loan on behalf of EGG.
Having gone through a series of Full & Final Settlements with other debts when I sold my house (all were at 55% - 65%) I thought about getting a settlement and moving on, I am able to do this as I have a bit of cash left from a work bonus which is sat in an ISA.
I have read a lot of threads on this Forum and decided to give the CCA request a go to start with.
I have sent a CCA request by Recorded Delivery 19/10/07, so 12 working days leaves me waiting for 06/11/07 (I will check, but assume they sign for the letter on Monday).
There are a couple of things I would like to achieve with this thread...
Enable me to pay this debt (£5100).
Enable me to pay the Credit Card debt (£11500).
Use this forum as a diary.
Enable others to learn from what I do (right & wrong).
I also have a couple of questions,
Does this site have a search facility, because I can't find it?
What are peoples best Full & Final Settlement figures?
The search button is in the middle of the top line of this page, where your user profile is, it's in the dark blue band under the pale blue bit that gives the details of where you are on the site.
i was offered 75% reduction on a 10k card by the original creditor. Didn't have 2.5k at the time but now had the whole lot written off as no CCA at all could be provided. Probably why they were so keen to accept 25%.
i was offered 75% reduction on a 10k card by the original creditor. Didn't have 2.5k at the time but now had the whole lot written off as no CCA at all could be provided. Probably why they were so keen to accept 25%.
That would be a great start, I have £2500 at the moment so will be happy to deal with them at that level, I may just wait for the CCA an may push them back to 10% if they can't produce, may even go for less.
I am also looking around the forum and getting my bank charges claim started on Natwest...18 years with them, will be looking for a big chunk and will be donating a % to the forum once all settled. :grin:
Vs Egg/DLC - CCA Request in - Overtime (12+2) and no CCA - So on back burner for now.
Vs NatWest - SAR - (Subject Access Request) in
Vs RBS (for partner) - SAR - (Subject Access Request) Complete, Preliminary Letter Sent
Vs Marbles - SAR (Subject Access Request) in
Vs EGG - (next SAR to be sent)
Only want to have 3 active issues at any one time, I don't need any more stress.
Check this link they are very good and have a Full and final settlement on it site and they advise that you could agree to offer a 10% of outstanding balance.
Check this link they are very good and have a Full and final settlement on it site and they advise that you could agree to offer a 10% of outstanding balance.
Thanks, I am enjoying this at the moment, feeling up for the fight. I am looking to pay as little as possible so that I have money available for both debts. May be able to talk with Egg direct currently as they have not transfered the Credit Card to any DCA yet.
What do you guys suggest? Deal direct or let it go to DCA?
Vs Egg/DLC - CCA Request in - Overtime (12+2) and no CCA - So on back burner for now.
Vs NatWest - SAR - (Subject Access Request) in
Vs RBS (for partner) - SAR - (Subject Access Request) Complete, Preliminary Letter Sent
Vs Marbles - SAR (Subject Access Request) in
Vs EGG - (next SAR to be sent)
Only want to have 3 active issues at any one time, I don't need any more stress.
I agree.
I'd rather deal directly with the OC's than some bottom feeding DCA.
Removing the DCA and ensure the correct amounts are repaid ito the OC is my main aim.
Why should a third party DCA profit from our misfortune.
I agree.
I'd rather deal directly with the OC's than some bottom feeding DCA.
Removing the DCA and ensure the correct amounts are repaid ito the OC is my main aim.
Why should a third party DCA profit from our misfortune.
I agree, but was interested to know from a payment point of view, is the OC more likely to give a better settlement figure than a DCA?
Vs Egg/DLC - CCA Request in - Overtime (12+2) and no CCA - So on back burner for now.
Vs NatWest - SAR - (Subject Access Request) in
Vs RBS (for partner) - SAR - (Subject Access Request) Complete, Preliminary Letter Sent
Vs Marbles - SAR (Subject Access Request) in
Vs EGG - (next SAR to be sent)
Only want to have 3 active issues at any one time, I don't need any more stress.
It depends on a number of things e.g. is there copy of the credit agreement, have you been on greatly reduced payments for a considerable period of time (normally at least 12 momths) and how likely are you ever to be in a position to up payments significantly.
That is a hard question. The DCA's will have bought the debt for a pittance - probably as low as 5% of its true value. But in my experience for some reason they are much greedier than the OC's . If you think about it logically, if the OC is proposing to sell a problem debt on for only 5% and you offer them more than that (6%) then they should consider it - in theory>
I am in a position at the moment to provide a settlement of a small part of the debt as detailed above, but will soon have little (about £100/month) to put towards debt payments, my partner is due to give birth in the new year and this will be the max available.
I have been on reduced payments, token £1, for over 12 months now.
I would be able to up payments if I got a pay rise, but that is unlikely to happen in the near future.
I would like this to end in settlements as I don't want to continue with a debt around my neck, already on increased mortgage rate due to this!!!
Vs Egg/DLC - CCA Request in - Overtime (12+2) and no CCA - So on back burner for now.
Vs NatWest - SAR - (Subject Access Request) in
Vs RBS (for partner) - SAR - (Subject Access Request) Complete, Preliminary Letter Sent
Vs Marbles - SAR (Subject Access Request) in
Vs EGG - (next SAR to be sent)
Only want to have 3 active issues at any one time, I don't need any more stress.
You're probably already in a reasonable position to negotiate then (remember babies are expensive and a credit card is a non priority debt - things like mortgage, council tax are priority debts). I would pursue the CCA route to perhaps put you in an even stronger position, although please be aware Egg usually can supply a copy of the agreement. When negotiating remember to start as low as you possibly can, make sure you emphasis this is a onetime offer and that they only have x amount of time to accept it. Any acceptance must be in writing.
Sounds like good advice, thanks. I will ring Egg and offer a small amount hopefully the DCA will not produce the CCA in time and I can force a low payment to them too. £2500 into large debts seems impossible, but that is where it is.
I will report back on progress as soon as I get news.
Vs Egg/DLC - CCA Request in - Overtime (12+2) and no CCA - So on back burner for now.
Vs NatWest - SAR - (Subject Access Request) in
Vs RBS (for partner) - SAR - (Subject Access Request) Complete, Preliminary Letter Sent
Vs Marbles - SAR (Subject Access Request) in
Vs EGG - (next SAR to be sent)
Only want to have 3 active issues at any one time, I don't need any more stress.
Thought i'd add i'm in a similar position with Egg - have two loans and a credit card - so far after two CCA requests (through two diff DCA's) they've only managed to supply me with the CCA for the larger loan - and appear to not be able to supply the one's for the smaller loan and the credit card - they just keep sending statements - which apparently don't count as CCA's.
I will ring Egg and offer a small amount hopefully the DCA will not produce the CCA in time and I can force a low payment to them too.
If you do phone them and manage to speak to someone who is in a position to make a decision on the account (you might end up having to write to them in order to get in touch with someone who can make this decision) ensure that you get any acceptance confirmed in writing before you pay any money.
Thought i'd add i'm in a similar position with Egg - have two loans and a credit card - so far after two CCA requests (through two diff DCA's) they've only managed to supply me with the CCA for the larger loan - and appear to not be able to supply the one's for the smaller loan and the credit card - they just keep sending statements - which apparently don't count as CCA's.
Sounds like a good situation so far, are you refusing to pay on the non-CCA debts? if so what has the reaction been?
Vs Egg/DLC - CCA Request in - Overtime (12+2) and no CCA - So on back burner for now.
Vs NatWest - SAR - (Subject Access Request) in
Vs RBS (for partner) - SAR - (Subject Access Request) Complete, Preliminary Letter Sent
Vs Marbles - SAR (Subject Access Request) in
Vs EGG - (next SAR to be sent)
Only want to have 3 active issues at any one time, I don't need any more stress.
If you do phone them and manage to speak to someone who is in a position to make a decision on the account (you might end up having to write to them in order to get in touch with someone who can make this decision) ensure that you get any acceptance confirmed in writing before you pay any money.
I did ring up and offer a settlement a while back when I had sold my house, they said no, full amount, they don't do offers. I will ask who to speak to this time and may end up writing. I will make sure I get a letter to confirm.
Vs Egg/DLC - CCA Request in - Overtime (12+2) and no CCA - So on back burner for now.
Vs NatWest - SAR - (Subject Access Request) in
Vs RBS (for partner) - SAR - (Subject Access Request) Complete, Preliminary Letter Sent
Vs Marbles - SAR (Subject Access Request) in
Vs EGG - (next SAR to be sent)
Only want to have 3 active issues at any one time, I don't need any more stress.
BanannaBoy vs EGG/DLC
loan & Credit Card which, through a change in circumstance, I made token payments on (advice from National Debt Line). Egg agreed to take payment of £1/month against the Credit Card Debt for 6 months which I have done, but at the same time a phone conversation indicated that this would cover both the Loan & Credit Card.
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Re: BanannaBoy vs EGG/DLC
but now had the whole lot written off as no CCA at all could be provided. Probably why they were so keen to accept 25%.
Originally Posted by rory32
. If you think about it logically, if the OC is proposing to sell a problem debt on for only 5% and you offer them more than that (6%