Settlement??

[ajm2610]

Hello all, have just registered after 'lurking' about on here for a while now. Ive decided to try to get my not so healthy credit report sorted. Forgive me if this is in the wrong place and feel free to correct me.

 

Here goes, I have two 'defaults' on 2 Halifax accounts, one for just over 12,000 and the other for just over 5,000. The 12,000 debt is now being handled by Westcot and I assume the 5,000 remains with Halifax as I have heard nothing about it in donkeys.

I was wondering if anyone had any experiance of settling debts with agencies such as Westcot and if so the just how many pence in the pound would generally be seen as acceptable?

I have looked at the possiblity of an IVA where 'up to 75% can be written off', I wonder would such a figure be possible with one up front payment.

 

Any help will be greatly appreciated.

[hungrybear]

how long ago did you default?

[ajm2610]

Hello hungrybear, both accounts defaulted on the 31/01/2007. However one has been updated to 11/10/2009 and the lesser amount updated to 30/08/2009.

[hungrybear]

sorry to keep asking questions. Are they loans, credit cards, overdrafts...?

 

And how long ago did you take out the agreements?

[ajm2610]

They are both loans bear, one started in January 2005 and the other in November 2005.

No need to apologise. Sorry for the orignal post being so vauge.

[hungrybear]

Right standard procedures apply then!!!

 

For now forget the 5k - if no-one's chasing it then let the Satute Barred clock tick on!!!

 

At this stage do not admit anything to westcott and ONLY deal with them in writting. Send them a CCA request and lets see what they come back with.

- Before you offer to negotiate lets have a look at what cards they're holding!

[ajm2610]

Thanks for your time and advice bear, will get on the ball with that now.

 

Also is the default vaild for the 6 years after it 1st defaulted or from each time it is updated?

[hunterandthehunted]

dont ever get an iva, at the end of it they will be looking to get the

positive equity in your house. you will gain nothing they are a complete

con. speak to the CCCA...

[ajm2610]

Also I forgot to add that both loans were unsecured (no house to loss equity on)

[hunterandthehunted]

Also I forgot to add that both loans were unsecured (no house to loss equity on)

 

if you get an IVA its secured on the house... bad move if you want my advice

[ajm2610]

Didnt know that thanks, Im a tennant though so no house to secure anything against.

[hunterandthehunted]

Didnt know that thanks, Im a tennant though so no house to secure anything against.

 

 

right then, take hungrybears advice and forget the 5k one ( dont want to stir them up unnessary ).

if you are getting harrassed on the other send them the standard CCA request letter...

[hungrybear]

Thanks for your time and advice bear, will get on the ball with that now.

 

Also is the default vaild for the 6 years after it 1st defaulted or from each time it is updated?

 

 

LEGALLY you can only be defaulted once and that is the end of the matter. Unfortunately these muppets keep applying illegal defaults. I would start the questioning ball rolling on this as well. ie you were defaulted on x date that is the default in line with CCA, what are they doing and what lawful legal right do they rely on to do this.

 

Incidentially, I had dismissed you IVA out of hand without stating why, thanks to all that jumped in to put you straight.

 

get the CCA off (digital signature only) with a one pound postal order and lets see what these lot have on you, if anything.

[ajm2610]

Sorry for being a numpty but whats a digital signature?

[hunterandthehunted]

i just print my name on my letters, i think this will suffice but its

personal choice.. make sure you send it by recorded mail and

remember not to sign the bloody cheque

[hungrybear]

Yours sincerely,

 

Hungrybear

 

-get the idea, no pen involved.

 

 

And DO NOT send a cheque use a postal order and make it clear that it is only to be used for the statutory fee. A cheque has too many bank details on it to let loose on these muppets.

[ajm2610]

Letter copied from the template on here and ready to go tomorrow. Thanks to you both for the help, hopefully have some joy from this.

[hunterandthehunted]

Letter copied from the template on here and ready to go tomorrow. Thanks to you both for the help, hopefully have some joy from this.

 

well hopefully you will hear nothing and when the 12+2 days are up

dont go chasing after them;)

 

here is the cca request i have used....

 

 

Dear Sir/Madam

 

Account/Reference Number *************************

 

this letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

 

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

 

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

 

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection from Unfair Trading Regulations 2008 (CPUTR).

 

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

 

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

 

We look forward to hearing from you.

 

Yours faithfully

 

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