Hi there

I have an RBS loan of £19k taken out in the year 2000, is it enforceable and how will I know?

I have been paying it off since 2005 through a DMP.

Same as the 5k credit cards x2.

They are still with RBS and I have claimed charges and PPI from them in the last 2 years.

I just want to get rid of these now and have been in a position to offer them at least 40% of the debt by offering a F&F payment.

They are refusing to negotiate with any F&F payment. Any advice?

I am tempted to bankrupt these to force their hand?

I have no assets as I rent through the council and have a £600 car and currently a student so not in a great financial position, apart from the F&F payment I have offered.

If you have been paying since 2005 and still are the debt has been admitted and it is not statute barred.

Statute Barred = 6 (5 in Scotland) clear years with NO payments or unequivocal written acknowledgment of the debt.

So yes the debts are enforceable.

Full and Final Settlement offers need careful handling never start offers higher than 10-15% of the outstanding balance to give room for negotiation.

An F&F offer if accepted results in the CRA entries being marked partially satisfied if the debt is defaulted the entry remains on file for the balance of the 6 year default period.

This is presuming that the debt have been defaulted on entry or before entering the DMP.

If you have been paying since 2005 and still are the debt has been admitted and it is not statute barred.

 

Statute Barred = 6 (5 in Scotland) clear years with NO payments or unequivocal written acknowledgment of the debt.

 

 

So yes the debts are enforceable.

 

Full and Final Settlement offers need careful handling never start offers higher than 10-15% of the outstanding balance to give room for negotiation.

 

An F&F offer if accepted results in the CRA entries being marked partially satisfied if the debt is defaulted the entry remains on file for the balance of the 6 year default period.

 

This is presuming that the debt have been defaulted on entry or before entering the DMP.

Many thanks for the prompt advice. So can I clarify something?

At it stands the RBS loan debt and RBS credit cards do not show on my credit file at present.

If I do come to an arrangement with a F&F payment.

Will RBS update the Credit file with partially satisfied and Will that update be seen on my credit file in 2013- 2019?

I hope I have made my question clear.

Thank you again.

It these have already been removed due to the 'time scale' of 6 years from the default date then the accounts can never be reported again to CRAs.

So you have no problem there at all!

the accounts will prob already have been defaulted and dropped of

they cannot return.

as they are not going you any harm

why F&F?

keep doing what you are doing

oneday they'll sell them to a DCA and the F&F will be very low to them.

I know it sounds strange

but as such I would not 'waste' that money paying a debt that is already off your file and not harming you.

who is the DMP with?

dx

the accounts will prob already have been defaulted and dropped of

they cannot return.

 

as they are not going you any harm

why F&F?

 

keep doing what you are doing

oneday they'll sell them to a DCA and the F&F will be very low to them.

 

I know it sounds strange

but as such I would not 'waste' that money paying a debt that is already off your file and not harming you.

 

who is the DMP with?

 

dx

Thank you all so much for your info. This is priceless info.

Yes DMP is with B&E, yes I know a fee paying DMP, soon to be changed to a non- fee.

The reason why I need to get these debts paid off is, I want to buy my council house next year.

One of the conditions of being able to buy the house is that you are not allowed to have debts with any creditors.

So although these debts are 10 years old and don't appear on the CRF, they still need to be paid.

All in all I have paid £140,00 per month for about 75k worth of debt.

I really thought I would have got some really low F&F acceptances.

I started offering them 15% on all of them from last year. I know it's a waiting game!

But time is running out!

So far the best offer was 30% of the debt.

And RBS are claiming to still want the remaining balance total of 20k across a loan and 2 credits card.

But what has been interesting is that another RBS loan being collected on behalf of Apex.

( so apex didn't buy the debt) are happy to accept 50% of the loan.

Is that a good F&F or are Apex trying their luck.

What should I reply to them?

having done council moves 3 times in the past with debt myself under the same rules

if it don't show on your CRA file - then they wont know about it.

as for the F&F's

it puzzles me why you are being offered discounts

ig you've done PPI/charges

then there got to be something else wrong for them to offer a discount.

ok they do offer them, with no 'reason'

but just seems strange to me

I assume you have CCA's them all too?

dx

having done council moves 3 times in the past with debt myself under the same rules

 

if it don't show on your CRA file - then they wont know about it.

 

 

as for the F&F's

 

it puzzles me why you are being offered discounts

 

ig you've done PPI/charges

then there got to be something else wrong for them to offer a discount.

 

ok they do offer them, with no 'reason'

 

but just seems strange to me

 

I assume you have CCA's them all too?

 

dx

Hmm yes,

well I have instigated the F&F's to be honest.

But yes actually the Apex ones approached me?

Shall I ask all for CCA's on all my debts even the ones which are still with RBS?

Thanks dx

you are right if they are not the credit file,

I should just pay them the token payments until I die!

I fact I am going to cancel my plan with the DMP and offer less to RBS to force their hand to accept an F&F!!

Thank you for all your excellent advice!

if its with a dca you'll be bang to rights to guess they brought the debts for peanuts

then claim the full wack.

yes CCA them.

pers I've never liked the idea of paying off any debt that's no longer 'harming' you by inflicting a poorer score.

anyone in debt has more important debts to rid themselves of to minimise active cra file damage.

dx