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About JohnnySocrates

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  1. Thanks for continuing to post, I'm more likely than not to be walking down the same road so it's very useful to get your insight from the process.
  2. Thanks Moonlighter, I have seen and used some of the great templates on the sites. I've sent F&F offers and CCA requests in the hope the offers will be looked at more carefully but this is not currently the case. In terms of 'marking the debts as having been settled...', I understand this is the case - I think it gets marked as 'satisfied' or 'partial satisfied' depending on what you can get the creditors to agree to. However, I believe that 'Defaults' can only be removed by the organisation that addes them so when a debt gets sold on I assume the default can no longer be removed -
  3. Thanks Moonlighter, I have looked into the options in great detail as my research and deliberations span a 6 months period. I'm in a position were I may be able to pay all my creditors an amount as a full and final payment but to me this would only make sense if it improved/fixed my credit file. I would prefer not to go down the bankruptcy route as it does present a year of restrictions but handover £,000's of pounds to creditors to get a benefit from doing it. Ida - the defaults are between 1-3 months old so no real term difference over the 6 years.
  4. I can understand the 'stigma' comment, it does have that feeling for most people but 'an admission of defeat' sounds a little off the mark. The situation that leads to bankruptcy is not always in an individuals control. I guess what I'm trying to bottom is in general terms if you get a number defaults on your credit file is having bankruptcy on it worse or the same it terms of moving forward.
  5. I have a question... If default notices are so difficult to remove, as looks the case reading the threads on this forum, then having been issued with one or more is there a strong argument to be made for just moving straight to bankruptcy? They both appear to rubbish your credit file for 6 years. I know in bankruptcy I would have restrictions for a year but the debt would be cleared. If I didn't go through bankruptcy then I could still be chase and even if I settled through a full and final offer (using the lack CCA as leverage) my credit report would be rubbish for 6 years. Is
  6. Hi Alan, thanks for posting an update keep us informed about how it goes and your thoughts about it.
  7. Thanks Ida. I do agree with your comments regarding 'what's right for you', a better person than me once said that 'a wiseman listens to the weight of public opinion before making up his own mind'. I do subscribe to this and as such always research before deciding on a course of action. In this case it is especially important as there are so many variables involved and, of course the lenders have no set public policy for dealing with this situation. If they did it would undermine all their collection efforts. I am mindful at this point of a book I recently read, 'Tipping Point by Mal
  8. Thanks Scott, I see the logic in this but I do get the sense that it can be difficult to get through to someone inside the machine who can make the decision on full and final settlements.I will be exploring this option as it does appear to be a solid approach. Do you know of anyone who as used the very real threat of making themselves bankrupt to get a lender to accept the full and final payment? It does appear that through applying via LILA an individual can almost demonstrate to a lender that it's the offer or nothing. I guess it's a shame that you can't submit your application f
  9. Hi Ida, Thanks. I see the situation, I think but please correct me if I'm reading it wrong: If I "win" on the grounds of CCA I could be chased for 5 years for the debt and any damage on my credit report would remain for 6 years. I am considering bankruptcy after I have explored the options and tried to strike a deal with the creditors. Can I ask what your experience of bankruptcy is? I have read all about the function of bankruptcy but not so much the day to day reality of it. I did find an interesting site Piggy's Bankruptcy Website - Information and advice . I would welcome your vi
  10. Hi Ida, Thanks for your response it is very helpful. I can see that having a hard and fast list is not possible because there are so many variables not least of all how much hassle and pressure a person can take. In regards to closing off the debt, how does this work? If in your example no cca exists you refuse but the company doesn't take you to court then what does happen?
  11. Hi, I've been reading this forum with a great deal of interest and it has been very useful. I would like to therefore ask for opinions on what people believe is the best running order of options. If will assume that the starting point is in arrears with lenders and unable to pay. I have also assumed that every step the lender rejects hte option. What do you think of this as a list of options and the order? 1. Write and ask for the debt to be written off - Sample letter http://www.nationaldebtline.co.uk/scotland/temp/4480_66421.pdf 2. Write and ask for a copy of the orig
  12. "One important factor, always open a basic bank account in advance of application" I don't think this advice is accurate. I understand that you have to disclose all accounts so there is no point in having a new account with £1 in it as the Trustee will take this as an asset. The advice I have read is to wait until after not before. I understand there are a number of banks willing to give you a cash account. The co-op appears to be the peoples choice. Can anyone more experienced than me comments, Ida?
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