Discounted offer

[hev106]

Hi, Thought it best to post on a new thread with regards to 1st Credit.

This is one of two outstanding final debts being paid to DCA's (the DCA's being 1st credit and Interim Justitia), and at a figure I can reasonably afford.

 

Every now and then I get letters/calls from 1st Credit asking for me to up the payment (we are reviewing your acct etc etc), which I decline and they go away and hassle me no more for around 12 months.

 

Today however,my postman has just delivered a letter from 1st credit to me offering me a generous 50% discount if I settle by the end of May. WOW!

 

Now if I had only found your site many years ago, I probably would not have been paying anything but that asides,

 

1)do I take them up on their offer and settle

 

or

 

2) as I have been paying it for a couple of years now would I be wrong to ask them for a CCA at this late stage?

 

It will take me around another 2 yrs to finally clear the debt with 1st credit, but paying them a full and final based on their offer would get rid of the debt once and for all, and I could just about scrape the amount together to get rid of it.

 

I hope this makes sense, your site has helped me already with two other DCA's so hope you can guide me with this one

 

Hev

Edited May 26, 2009 by hev106
mispelt

[PGH7447]

depending on what the debts are you can cca anytime you wish

[hev106]

depending on what the debts are you can cca anytime you wish

 

Hi, I think if memory serves me right they were for credit cards, Halifax and MBNA

 

DOes it make a difference that they are cards or can i cca them and do I then stop paying any of them until they prove the debts?

 

I know I have been paying them both for two years or more and probably have another two years left of payments to clear them, surely the 1st credit offer is probably more than they actually paid for the original debt so they are still quids in

 

H

[lilly white]

The answer is yes to all of your questons.

 

HOWEVER YOUR CALL

[hev106]

The answer is yes to all of your questons.

 

HOWEVER YOUR CALL

 

 

Hi Lilly

 

Decisions decisions, will have to think about this long and hard.

 

If I were to CCA them both and they could not oblige, surely I would still have to pay as the debts would not be statute barred due to the payments made or would it just become unenforceable because they cant provide the info?.

 

On the other hand, if I settle with 1st credit its one less debt???? Arghhh

 

Why cant i win the lottery and get all the monkeys off my back!

 

Cheers

 

H

[Nottsdave]

no agreement = no money in my book as they are not entitled to collect from you.

 

I would not pay them, but thats me.

 

 

Notts

[PGH7447]

Hi

 

You can CCA for credit cards

 

they have 12+2 days to reply with a valid agreement, after this time you can if you so wish withold payment.

 

If you wish to settle ensure that you get in writing that this is a full and final and that it is marked as such on your credit file. it has been known for DCA's to sell on the remaining debt after you have settled with them.

[hev106]

Hi

 

You can CCA for credit cards

 

they have 12+2 days to reply with a valid agreement, after this time you can if you so wish withold payment.

 

If you wish to settle ensure that you get in writing that this is a full and final and that it is marked as such on your credit file. it has been known for DCA's to sell on the remaining debt after you have settled with them.

 

 

Hi Nottsdave and PGH

Thanks, will have a long hard think abour Full and Final, it would leave me with no emergency cash so need to think hard about that given the time it has taken me to get some cash set aside. Might just send off the CCA and see what reactions I get nothing to lose really on that

 

H

[saintly_1]

For the cost of £1 plus postage the CCA requestwould be worth a punt IMO

[BECCALOU]

Have had similar 50% & the like from other DCA's. Sought advice on this forum and was told that if you agree to it they take your cash and then sell on the remaining 50% to other DCA's who start all over again with you.

[hev106]

Have had similar 50% & the like from other DCA's. Sought advice on this forum and was told that if you agree to it they take your cash and then sell on the remaining 50% to other DCA's who start all over again with you.

 

Hi Saintly and Beccalou

 

Saintly - Think I will probably send the CCA after all to them both.

 

Becca - Am beginning to see the trend as others have advised they would possibly sell on so think I will hang onto my emergency cash for emergencies!

 

My head is now reeling what with reading and writing al the advice down, think I will have break before composing my plan of action, may even leave until the morning!

 

Thanks peeps for all your help

 

H