Please help! At the end of last year my circumstances changed and I could no longer afford to keep up repayments on my cards, catalogues and unsecured loan. I am now going to be in a position to be able to offer my creditors a full and final settlement. I posted on another forum and didn't get much help but was advised by one poster to send everyone CCA requests because if the companies cannot provide this I would then be in a much better position to make offers? I have got the letter template and am ready to print out the letters to post with the £1 PO but I'm wondering if I should. I can't help thinking there must be some disadvantages to doing this? I had thought, perhaps naively, of trying to find out how much of my current balances are from my spending and how much from fees and charges but from searching this site and google I see people either offer percentages or use a pro-rata formula for offers.

Sorry if I'm rambling on. My creditors are

Littlewoods

Barclaycard

Very

Great Universal

Argos Card

Capitol One

Vanquis

Bank of Scotland (unsecured loan which would have ended last month)

Virgin

What do you guys think? Should I send CCA requests or just go in with offers? I think I understand that I would be in a stronger position to have an offer accepted without a satisfactory response to the CCA request but I don't want to get into even more complications and stress.

Also, I had hoped to keep one of my credit card accounts open, the Barclaycard one. I've been with Barclaycard for over 10 years and use the card for holiday spending abroad, big purchases where I want protection and peace of mind for emergencies, I'd never been late or missed payments until recently. They have sent the account to Debitas so does that mean it's already closed and I won't have an account once it's settled?

Sorry for being ignorant but I've never had a debt problem before, and hope never to have one again! In case my question isn't clear, what I would like to know is should I send CCA requests? What are the advantages and disadvantages to doing this? and should I just make offers? if so, should I go with percentages or pro-rata based on amount available and debts? Is there something else I've not even considered? I'm lost and desperately need some help and advice. Thank you

you need to read sequenci's blog in my sig before you do anything.

yes CCA is a very good idea

and CERTAINLY NEVER EVER offer an F&F unless the OC removes ALL negative markers and guarantees the debt is marked as SETLLED.

nothing else will do, you might as well burn the cash!

dx

Thank you so much! I have read everything you suggested and followed the appropriate links, I'm far from an expert but I feel a lot more comfortable now. I found this

"For credit debts consider a request under the Consumer Credit Act to see if there are any issues with the paperwork. A creditor is likely to accept a very low settlement on a potentially unenforceable debt. "

So based on that and DX's advice I will go ahead with the CCA requests.

DX thanks as well for pointing that out about the OC, I will be very careful when choosing a letter to send when the time comes and will probably come back here for advice on it.

I hope Sequenci knows how much his/her work has helped and how much it is appreciated, there are quite a few points I'll be taking away with me and I don't doubt that I'll be referring the his/her blog again.

Can I be cheeky and ask one more questions? How should I send the CCA requests? Is 1st class ok or should they go special delivery/recorded delivery? Thanks

it matters not really

2nd class is ok.

its not as if its a court action

dx