cca ?

[southpaw]

Hi Guys ,sorry if posted in wrong section ,

we have a bit of debt , various credit cards , loans etc , couldnt make payments so had to negotiate a DMP , (via payplan) , some accounts have been passed to DCAs and some are accepting the lower payments , my question is

 

What is the reason for CCA request , Is it purposely to avoid paying the debt ,

 

is it suitable for my circumstances ,

[Luminol]

I requested CCA's for my debts after they were passed around many different DCA's, and I wanted to make sure they had the right to collect them, and I didnt want to take these people on face value (especially as they were rude and agreessive).

[clemma]

If a CCA turns out to be unenforceable, it just means that the OC or DCA cannot take it to court to enforce that debt.

 

It does not mean that the debt no longer exists, just that further action/demands can not be made.

[fuzzybobble]

It also means you can easily negotiate a full and final settlement for a fraction of the original amount too.

 

Or you can teach them a lesson for being so rude and intimidating and not bother to pay them at all.

[maroondevo52]

Hi,

 

A debt becomes unenforceable under the CCA if a creditor does not supply a true copy of the signed credit agreement within 12 working days of it being requested.

 

The debt remains unenforceable for as long as the creditor fails to produce the signed credit agreement – this means if they produce the agreement some months down the line, they are quite within their rights to enforce it. They do not need to take any further action to enforce the debt. A debtor cannot take any action against the creditor for failing to produce the signed credit agreement within the prescribed time, because that is up to the agencies that the offence has been reported to. Any sanctions that may be imposed are at the discretion of these agencies, and it is not a matter that the debtor can take to the civil court.

 

 

 

Regards.

 

Scott.

[1foxie]

It also means you can easily negotiate a full and final settlement for a fraction of the original amount too.

 

Or you can teach them a lesson for being so rude and intimidating and not bother to pay them at all.

 

Hi Fuzzybobble. Am interested in a full and final settlement with a number of DCA's who cant supply the CCA, just to get rid of the debt. How would i negotiate a lower amount? Would it be a case of 'anything is better than nothing?'

[fuzzybobble]

That's correct. But when you go for a full and final settlement, make sure you have it all in writing from them before paying anything. Also state you want the default removing from your credit files and not just marked as partial or fully settled.

 

If you don't do this, they'll take the settlement, then they, or another DCA will start chasing your for the remaining amount.

 

If it's in writing then they cannot do this.

 

Also remember DCA's pay around 10%-30% of the total value for a debt. So offering them 15% on something with an unenforceable CCA is more than generous.

Remember to enclose a copy of the CCA with it marked where the problems are with it to make it unenforceable. Just so they know, that you know, where you stand legally.