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I think this is a bit of a moral question really. RBS have admitted they have no CCA and that they wouldn't be unable to enforce any non payment of debt (just under £2k) in court.
My OH, whose card it is, says great one less bill but I'm not so sure. I am bit more moral than him so wondered if it would be best to do a Full and final offer?
If it is, is there a good way to work out what we should offer - obviously taking into account the lack of funds or should we just keep paying on an installment plan. I don't really want to do this as it just carries it on and on.
All opinions welcome!
If what doesn't kill you makes you stronger I should be the world's strongest woman by now!
I'm not sure if you're aware but if this debt has been sold on, chances are the bank have got their money from the tax man so you'll be giving them a further profit if you were to pay.
Secondly, debts are bought for a fraction of the amount so again, paying a DCA means they make a nice healthy profit.
So who's morally guilty now?
If you have to make an offer, start at the 5-8% they bought it for.
The debt hasn't been sold on and I have to say that RBS have been great with us every step of the way. They are one of the ones I would be inclined to pay - unlike Sharklycard and MBNA!
Will have a good think but it would be great to clear one off of the list and off of the credit file records.
If what doesn't kill you makes you stronger I should be the world's strongest woman by now!
The debt hasn't been sold on and I have to say that RBS have been great with us every step of the way. They are one of the ones I would be inclined to pay - unlike Sharklycard and MBNA!
Will have a good think but it would be great to clear one off of the list and off of the credit file records.
Don't expect that it will come off your credit file record.
If you want to be moral about this - then good for you. People should take a lesson.
However, I think that it is reasonable to expect an reciprocal attitude from them.
I suggest that you talk to them about a FF settlement but that part of the deal will be that they must remove all trace of any CRA entries relating to the matter. You would want this in writing as a matter of contract with a stipulated binding time for the CRA entries to be removed. And that you will want a letter confirming that the matter has been cleared completely and that there is nothing outstanding.
If necessary you should discuss putting the money in escrow with their solicitors against their undertaking.
Do nothing on trust.
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I think I will write to them as you say but is it best to make an offer (say 5% as per MrMT's post above) or ask them to give me a figure that I can then "haggle" with.
Is there a letter here with all the info you've mentioned?
DC
If what doesn't kill you makes you stronger I should be the world's strongest woman by now!
It is up to you as to what satisfies your sense of morality.
However, I would have thought that if there was a prospect of a CRA cleanup too, you should be thinking of quite a bit more
Please don't pm me about specific questions unless you have posted and it has not been dealt with or unless the matter is confidential. Please include a link to the post you want me to look at. If you have received a defence, contact me.
Advice & opinions of BankFodder, The Consumer Action Group and The Bank Action Group are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
I hope you don't mind if I ask a question about dealing with RBS - I have recently asked them for a copy CCA and have received an application form in response. I haven't taken it any further yet. Your thread caught my eye and I wondered what led up to them admitting to you they had no CCA.
Did you go through a process of sending a CCA request etc?
Any advice welcomed.
OH got a similar letter saying they had "misfiled" his agreement. He had already stopped paying them. A word of warning though they did default him so it is entirely up to you.
Sounds like we got the same "misfiled" letter, we were doing a dmp and then OH's work dried up. He's self employed and I can't work as am full time carer for our disabled son.
After finding this site (than god!) I decided to CCA all 10 of our debtors. That's when we got the response from RBS. Mint (same people really) sent a copy of the application form as a CCA which it isn't.
We've already stopped paying too and to be honest I'm not that bothered about credit file being bad for 6 years - I know that sounds flippant but lessons learned and all that.
I was just going thru the paperwork to work out how much to offer as FF and noticed that when we applied for the PPI to be refunded as mis-sold they said they had checked the CCA!!!!! Not feeling so moral about paying them back now
If what doesn't kill you makes you stronger I should be the world's strongest woman by now!
To be fair to RBS, I sent a total of 13 CCA requests to various creditors and RBS acknowledged within 2 weeks and said that as they did not have the agreement they were considering the balance as zero. With no damage by them to my credit file.
They were even very good when i was on reduced repayments with them for a number of years and they never ever sold it on.
Oh, how i wish the other 12 had acted in the same manner, Cabot, Lowell, Bryan Carter etc.,
RBS have been the same with us, always good on reduced payments, never sold debt on and never hassled us. It's one of the reasons why I would consider offering them a F+F amount. Thought I'd go through everything we've paid and ofset that against what we've actually spent and see if we can agree a decent figure. I know for sure that the others wont be getting the same sort of offer!
Mind you I'm actually missing Barclaycard's phone calls - don't think they love me anymore
If what doesn't kill you makes you stronger I should be the world's strongest woman by now!
You always get your eyes opened with these companies.
I have a couple of RBS credit cards (RBS, Mint, Tesco) and they have all responded to my CCA request with a copy of an application form. I am not going to rush into anything with them yet.
I am definately going to request refund of PPI and charges over the last 6 years.
Good Luch & thanks
W6
Just remember that if you go down the route of saying that the agreements unenforceable due to no CCA I don't think that you can then ask them for money back for mis-sold PPI and excessive charges.
I know it sticks in the throat but I think you have to choose one or the other
If what doesn't kill you makes you stronger I should be the world's strongest woman by now!
Then say Give me a 80% discount and remove the defualt or I'm not paying a thing ever again (see letter template and amend)
If a was the DCA I'd bit your hand off, they know if you stop paying theirs nothing they can you.
I Prefer geting a Full and final, just gives you the peace of mind that the case is closed. Other will disagree and say you owe them nothing, the choice is yours ....
I think I would prefer a F+F too but won't pay until get an agreement with the figure and the credit file cleared. Also need to save up the pennies to pay it!
1 down 9 to go
If what doesn't kill you makes you stronger I should be the world's strongest woman by now!
RBS admit no CCA - what do I do?
have admitted they have no CCA and that they wouldn't be unable to enforce any non payment of debt (just under £2k) in court.
so wondered if it would be best to do a Full and final
offer?
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Originally Posted by Duffychick
