CCA or SAR???

[yoyoscot]

Hi,

 

I've made pro-rata final settlement offers to my eight creditors [high-street credit card cos]. One or two have now accepted these offers, but unfortunately the remaining six or seven haven't.

 

Although I'd have preferred to settle, I'm up the creek and have no choice other than to change tactics. With this in mind I'm considering asking for my Credit Agreement under the CCA, or submitting a SAR.

 

My question is this:

 

Which is more effective/appropriate, asking for my Credit Agreement or submitting a SAR? Perhaps I should I use both, one after the other? If so, which one first?

 

Any feedback would be most welcome.

 

Thanks in advance!

Edited December 1, 2009 by yoyoscot
making my question clearer

[cashins]

Standard practice is to CCA them 1st - it's cheaper and you can always SAR them later if you need further info.

 

David

[yoyoscot]

Thanks v much for your feedback cashins!

[42man]

As part of your 'settlement' with them request in any full and final their positions on leaving defaults / adverse information on your credit files....and bear in mind they usually sell the debt for anything between 5% and 30% of the original debt value....you should also look at those that have added any PPI premiums on them too.... - Daily Express | YourMoney :: Bank in dock over an £8,000 credit card bill

[yoyoscot]

42man: Thanks for your additional advice. As you might imagine I have several 'defaults'. As part of my 'full & final' settlement offer I asked that these be removed, and that my creditors should look favourably at any attempt that I make to repair my credit file. At this stage I'm not convinced that my defaults will actually be removed, but that's certainly part of the deal that I proposed.

 

The settlement offer that I made was based on the amount of money I could raise rather than a percentage [as a percentage it worked out at about 20%]. As I said, most of my creditors have chosen to reject this - which is a pity ...but it's all that I could raise, so I have no choice other than to take a less-positive approach going forward : (

 

Thanks again!

[diddydicky]

sar's are generally best left until after default notices and terminations have taken place

[yoyoscot]

diddydicky: Thanks for your response. The default notices have taken place, with many terminations but not all. I plan to do a bit of research before the weekend, as I believe that there was a change in the law [in Scotland] on the 1st of December 2009. I need to understand what the implications of that change are, and then make sure that I use the right terminology to request a true copy of my credit agreements. Thanks

[diddydicky]

diddydicky: Thanks for your response. The default notices have taken place, with many terminations but not all. I plan to do a bit of research before the weekend, as I believe that there was a change in the law [in Scotland] on the 1st of December 2009. I need to understand what the implications of that change are, and then make sure that I use the right terminology to request a true copy of my credit agreements. Thanks

 

remember that the SAR will NOT oblige them to send you a copy of the cca (although many do send what they have already sent in response to the s78 request)

 

they are only "obliged" to send you the information they hold on you, not the actual documents the information is recorded on