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About to settle debts.... whats the best approach?

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Hello all, I'm looking for advice on how to approach several DCA with settlement offers. More specifically, the removal of default notices when I am settling the debt.


I have recently sought help on several debts that I have outstanding - all currently with DCA's (7 in total, 5 of them have had small payments made and 2 haven't) - and I am now in the very fortunate position where I financial support to settle the debts.


This is a really great opportunity for me to repair some of the damage I've done and I was wondering if someone would please provide me with advice on the best way to approach this with the DCA's? Ideally I would like to remove all trace of the defaults on these debts, rather than "default satisified". Is this possible?


Any help would be greatly appreciated,

thanks :confused:

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first golden rule is you dont pay anybody anything till you KNOW they are legally entitled to it.


fire off a CCA request to every DCA !


those that fail get a VERY low F&F offer.


those that are enforcable then p'haps have the need to be looked at for poss reclaim of charges &/or PPI.


THEN your decide upon the figures.


as for the default removal etc etc


unless you can PROVE the default were the result of unlawful charges

i think you will have a hard time in getting them wiped




keep us posted

Edited by dx100uk
missed a bit

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I agree with dx, check the paperwork first as this well help with the amount you can offer.


the cca request in in my signature and you need to include £1 po with each and send recorded.


moonlight: certain circumstances come into play i..e if it's with a DCA, if you have reclaimed the charges etc.


Ida x

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In my experience, offers I have made to clear the debt to a DCA (who does NOT have a CCA) of 15% of the amount claimed have NOT been accepted. I have no idea why not.


My thinking is that they bought the debt for 10% (my assumption) and would never agree to sell at a loss. At 15% it gives them a 50% profit (outrageous, but at least an incentive for them), while if they sold it on again, they are likely to get less than the 10%. Seems to me a non-brianer that they woud accept the 15% figure.


Guess what? I find they refuse my offer, sell the debt on (presumably at a loss?) and a new DCA chases me. And there is still no CCA.


Maybe there are all sorts of "financial arrangmets" between DCA so they "share" any fees on an account, even if they sell it on. Who knows?


I know these guys may not appear rational - but surely they have a goal of maximising their recovery.


I am a loss to understand. I am also at a loss as to what strategy/tactics to take to "make/persuade them" to accept what I consider to be a reasonable offer - around the 15% mark

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