Debt payment tactics ! Creditors refusing my offers

[Series3]

make a list of the banks you owe.

their addresses will be on this site.

make them an offer of F+F

 

series3

[omoeko]

make a list of the banks you owe.

their addresses will be on this site.

make them an offer of F+F

 

series3

 

They are as follows

 

Lloyds (2 loans & 1 bank account)

Halifax (1 loan)

Hsbc ( 1 loan, 1 credit card with a CCA dispute and 1 bank account)

 

Also can I combine the offers per bank or per debt, can someone also pls provide me with the correct address to write to?

 

Thanks

[omoeko]

Anyone with any ideas please ? Should I combine offers per bank of list them seperately ?

[Series3]

Banks use the off-set to claw monies back from your account.

If you have money in your account with them, they will just take it to pay your loans.

You may want to open an account with a bank you don't have a loan with to have your money paid into so they can't off-set.

Offer them what you can reasonably pay and ask them to stop interest and charges.

Don't offer more than you can afford.

Are the loans secured?

[omoeko]

Money not in any account, loans aren't secured. Should I write to the banks directly as I'm not sure who now owns the loans, I only get letters from DCA. Should offers be made per debt or per institution ?

 

Thanks in advance

[Bazooka Boo]

How old are these accounts?

 

When was the last time you made a payment too them?

 

Yes deal direct with the bank if possible, check your credit file and see whose name is against the defaults.

 

Check the letters from the DCA's and read them properly, your looking for 'client' this and 'client' that, this will tell you who owns the accounts.

 

If you've not received a notice of assignment from the bank, then my guess is that it is still owned by the bank.

 

Have you received a default notice? Did you rectify the default? Have they terminated the agreement?

[omoeko]

How old are these accounts?

 

When was the last time you made a payment too them?

 

Yes deal direct with the bank if possible, check your credit file and see whose name is against the defaults.

 

Check the letters from the DCA's and read them properly, your looking for 'client' this and 'client' that, this will tell you who owns the accounts.

 

If you've not received a notice of assignment from the bank, then my guess is that it is still owned by the bank.

 

Have you received a default notice? Did you rectify the default? Have they terminated the agreement?

 

Most of the debts were taken out between 2004 - 2007 after a failed business venture. Except for the lloyds bank account which I have had for close to 20 yrs.

 

HSBC:

Credit card balance: £3,500,Unenforceable CCA,Defaulted

Loan: Balance = £4,000, defaulted

Bank account = 900, defaulted

 

Lloyds

 

Loan1: Balance = £6,500, Defaulted, taken out in 2004, last payment over 2yrs ago

Loan2: Balance = £7,500, Defaulted, taken out in 2007, last payment over 2yrs ago

Bank account = £2,700, defaulted, last paynment over 2 yrs ago.

Credit card: Balance = £6,300, Defaulted, taken out in 2007, last payment over 2yrs ago.

 

halifax

 

Loan: £6,500 balance, defaulted, pay £1 token sum

 

 

For the default dates, please see the dates below

 

HSBC credit card def was in 04/2009

HSBC loan: 10/2009

Lloyds account: 03/2010

Lloyds card:09/2010

Lloyds loan:09/2010

Lloyds loan2: 06/2010

Halifax: 2011

 

I do not recall seeing a DCA on the credit file, just mainly the name of the bank. I do recall that a lot of the DCA letters refers to clients. I have not been paying anything towards any of the loans, what I used to pay was a token sum of £1 to halifax, this stopped a year ago when I felt I wasnt going anywhere. I have not rectified the default. I dont know what can be done to rectify the defaults, I have concentrated on offering a F&F, but noone has accepted, the positive is that the money I have for F&F has increased slightly to about 40-45% of all debts.

Edited January 8, 2013 by omoeko

[omoeko]

Just to update everyone, a letter was recently received from HSBC on a credit card that they couldn't provide a valid CCA for, and now they have sold the debt to Marlin.

 

In cases like this, should I just send them a letter saying show mea valid CCA ?

[citizenB]

Just to update everyone, a letter was recently received from HSBC on a credit card that they couldn't provide a valid CCA for, and now they have sold the debt to Marlin.

 

In cases like this, should I just send them a letter saying show mea valid CCA ?

 

IMHO, you are wasting your time asking for something you know is not available.

 

HSBC have told you they dont have a copy of the agreeement - have they done this in writing ? Have they not even bothered to reproduce a copy ? Has the debt definitely been assigned/sold to Marlin or are they just acting as agents !

[omoeko]

Marlin have bought the debt.

[citizenB]

Then all you can do IMHO is to advise Marlin that they purchased a debt that was disputed and that on DATE HSBC confirmed to you that there is no agreement in place.

[omoeko]

ok, I seem to remember that when I sent a CCA request to HSBC, they seem to be sending me a bunch of irrelevant documents which doesnt look like a CCA, this was over 3 yrs ago or so, now what I will do is either try to look for that letter, advice them that the account is under dispute or should I just ask Marlin for a new CCA ?

 

I seem to remember that when the debt was transferred to other people, whenever I asked them for a CCA, they will then say that they will revert back to thier client and it ended there. So will a new CCA request to Marlin suffice ? Just in case I cant find that specific letter from HSBC ?

[renegadeimp]

Yep. Get that CCA request in. The fact that every other DCA hasnt been able to get hold of it should make you breathe a sigh of relief.

[omoeko]

Hi Guys

 

I have just received 3 letters from Lloyds and 1st credit, lloyds saying that they have transferred the debt to 1st credit. 1st credit ave also written saying that they now have control of the debt and that they are not aware of any reason why the debt should not be settled.

 

Now I have a situation where all my debt with lloyds has now been transferred to one DCA, about 50% of my debt is with lloyds, so I'm comfortable writing to them regarding all the 3 debts. I have claimed PPI on all 2 loans and 1 current account.

 

The 2 loans I have requested CCA and we have been going back & forth for the last 4 years, I really want it over and done with tbh. I want to consider some options and want to seek some advice here.

 

1) Ignore them which is what I have been doing for the last 18 months hoping that if I make no contact for 6 years debt gets written off.

2) make them a F&F offer as I have sme money from family, if I can clinch Lloyds that's about 50-60% of my debt and I feel confident since I can deal with one DCA and can offer F&F of around £3k after owing around £15k.

3) Fob them off and tell the to go get agreement, this will cause another merry go round again, whilst I just want to get my life back.

 

 

Any ideas guys?

 

Thanks in advance

[odetter]

,option one.

[omoeko]

Any perspective guys

I want a solution of some sort

[BRIGADIER2JCS]

1. The debt does not get written off after 6 years, it becomes unenforceable via the courts it will still exist and remains collectible by any other means but court action.

2. Beware of 1st Credit and 'mystery' payments at some point during the 6 year period.

3. Full & Final offers of payment need to be carefully worded and made under certain conditions other wise the debts can still come back to bite at a later date.

 

Conditions: That any remaining balance is not sold or assigned to any 3rd party.

All adverse data is to removed from credit reference files or the account is marked settled.

 

Any offers should start at no more than 10 - 15% of the outstanding balance, so you can negotiate, go in high as a first offer you will almost certainly pay more than necessary.

 

4. Fobbing them off: Unlikely to work with 1st Credit, this company is expert at producing 'reconstituted' agreements to satisfy CCA requests.

 

5. If the balances are high (over £750.00 BR threshold 1st Credit will use statutory demands or charging orders on property.

 

Be clear that SB 6 year period as stated by the OFT in it's Guidance on Debt Collection is: 6 clear years with no payments and/or no unequivocal written acknowledgment of the debt. Any payment at any point resets that clock.

 

There is some discussion at present as to when the 6 year period starts which is 'muddying' the waters on this.

[omoeko]

Thanks BRIGADIER2JCS

 

Just the kind of response I was looking for so that I can make an informed decision.

The balances are as follows

 

Loan 1: £6,500

Loan 2: £4,300

Current account: £2,650

 

The balances are well over £750. As for charging order on property, info have a property which the lender happens to be part of the Halifax family, which I believe lloyds also own. The property hasn't been mentioned at all, but I'm not sure if they know.

 

The total debt is just short of £15k that's with lloyds alone, I have not written to them nor acknowledged any debt in the last 12-18 months. In the past there has been offers of 50% off, just that I couldn't afford it at the time, I think that's when the debt was with nelson or so.

 

I intend to write to them now to offer between 10-15% as F&F incorporating the conditions you mentioned above. I believe I have standard template letters to this effect but they may not have the conditions mentioned above, does anyone have any template I can check. Alternatively I can post a copy of what I intend to send them here.

 

Anyone see any problems with this approach ?

[omoeko]

Hi All,

 

Just a bit of an update,I sent low f&f offers to 1st credit last month, just around 15% of the debt. then they wrote back saying that we should get in touch via telephone despite writing in my offer letters that all communication should be in writing, anyway we ignored them.

 

Now we are getting letters from Cannaught collections saying that unless we can give them a reason not to pay the debt, they will be taking further action and also stating that they are aware that I own assets that they believe will allow for settlements of the debts. All I have is a flat. Any advice on what to do here ?

[citizenB]

Hi All,

 

Just a bit of an update,I sent low f&f offers to 1st credit last month, just around 15% of the debt. then they wrote back saying that we should get in touch via telephone despite writing in my offer letters that all communication should be in writing, anyway we ignored them.

 

Now we are getting letters from Cannaught collections saying that unless we can give them a reason not to pay the debt, they will be taking further action and also stating that they are aware that I own assets that they believe will allow for settlements of the debts. All I have is a flat. Any advice on what to do here ?

 

I think all you can do is to confirm that you are in discussions with 1st credit. That you will not be bullied into talking to them on the phone and want all communication to be kept in writing, as is your legal right. This is in order to protect yourself in the event that they proceed to litigation as they are implying. That in the event that they do take this route, you will provide the court with evidence that you have been trying to resolve this without wasting court time.

[BRIGADIER2JCS]

You could always write to Eddie Nott their CEO and complain about the inmates of the 1st Crud zoo and their conduct.

[omoeko]

Thanks everyone

 

should I then just keep quiet for now ?

[sillygirl1]

I would write back to them and copy in the OFT stating that you have tried to come to an arrangement and the creditor clearly is looking to use court to secure their alleged debt.

 

This is not on and the OFT are now going to have to be a bit more pro-active against the debt industry - I am sure the new regulator will love to have a couple of 'big scalps' to prove it is no pushover and make the so called industry behave itself.