Debt payment tactics ! Creditors refusing my offers

[sillygirl1]

Statute barring starts from one of these two points - regardless of what the retarded DCA world likes to think. They could write to everyone they have details for weekly but without any acknowledgement stating you recognise the debt they will be stuffed.

 

Point one - the last payment made on the account

Point two - the last time YOU said you admitted responsibility for the debt PROVIDING it wasn't done under harrassment from said DCAs, in which case it can be reset to point one.

 

Asking for a CCA is okay as long as you put

 

Dear Silly people

 

I DO NOT ACKNOWLEDGE ANY ALLEGED DEBT TO YOU, YOUR ASSOCIATES, AFFILIATES OR CLIENTS

 

before any request, and continue to use that on every letter.

 

You may get some requests back for further information but point out to them they have already established you are at that address and it won't be forthcoming... standard delaying tactic for them.

[Bazooka Boo]

Also the admission must be in writing, word of mouth won't cut the mustard.

[omoeko]

Also the admission must be in writing, word of mouth won't cut the mustard.

 

I just got a letter today from Horwich Farrelly today which was relating to a letter that I sent to them with a full and final offer, now they have asked me for the amount that i'm able to raise, where the funds are coming from, a full breakdown of I&E, a breakdown of creditors, when the funds are available.

 

I also got a letter from JB Debt recovery, its regarding the HSBC debt which doesnt have a CCA and I will just fob them off by asking for the CCA.

 

Any advice.

[sillygirl1]

Horwich Farrelly are out of order asking for that information, tell them an I&E is irrelevant as you do not have to provide one, and that there is no need for a list of creditors as they are not entiteld to that information (you could say that as they are now your SOLE creditor this money is available after you have repaid other debts who accepted your offers).

 

You could pre-empt their 'when are the funds available' by sending a bank draft for the money (or a cheque) so that they can see you mean business, and write on the back of the cheque "Full and Final payment". That would make their threatomatic machine explode with frustration!

 

Then report them to the OFT, Trading Standards and the Solicitors Regulatory Authority, if they are solely involved in debt collecting then they need a few lessons in how to conduct business properly and not send out 'template' letters.

 

Isn't it funny how 'they' don't like US sending out template letters but they are more than happy to do so!

[brokebutnotbeatn]

Hi, I wouldn't send a cheque until you have everything agreed in writing. I would say the funds are from a 3rd party who have advised that they would make them available with 7 days of written acknowledgement of their acceptance. I assume you used the F&F letter as a template from this site? Ignore the I&E request. Report them for what exactly Sillygirl? x

[renegadeimp]

I just got a letter today from Horwich Farrelly today which was relating to a letter that I sent to them with a full and final offer, now they have asked me for the amount that i'm able to raise, where the funds are coming from, a full breakdown of I&E, a breakdown of creditors, when the funds are available.

 

I also got a letter from JB Debt recovery, its regarding the HSBC debt which doesnt have a CCA and I will just fob them off by asking for the CCA.

 

Any advice.

 

Sounds to me like they want to see very bit of financial info you hold, so they can milk you for as much as they possibly can.

[sillygirl1]

They are requesting informaton which is irrelevant to the F&F offer, are making it hard for the creditor to clear this debt is the most suitable manner for all parties, prolonging the process by their friviolous requests for information they can already access via the creditors CRA file, generally making a quick decision extremely difficult, amongst other things.

 

The trouble is if you do not make a complaint they will continue to be able to run rings round other people who have not found CAG, who are not aware that they have the legal right to refuse to send certain types of info to creditors and to not deal with a third party.

[brokebutnotbeatn]

I disagree. if the OP was trying to clear the alleged debt in full then yes, you are right. But the OP is trying to negotiate an offer with conditions attached. I think complaints should be made when there is cause to complain and asking for information that the company sees as relevant for the negotiations to conclude (in their eyes) does not IMHO warrant anything to complain about. Of course, the OP can 'decline' (i.e. NOT) provide such information and the negotiations may or may not conclude as a result.

[sillygirl1]

We will have to agree to differ then on that point.

 

I fully believe that if the company has written to you on many occasions, you have written or spoken back to them there should be no need for this further information they like.

 

It is a delaying tactic on their part which, should we ask them for a SAR or CCA, they would want more than the prescribed time to provide it.

[sequenci]

Point one - the last payment made on the account

Provided the account has defaulted. If it hasn't defaulted then the 6 years runs from the point in which the debt contractually defaults once payments are stopped. So, as an example, if you stop paying on a regulated loan or credit card the 6 years might actually start running from a point in time a few months after payments have stopped.

Point two - the last time YOU said you admitted responsibility for the debt PROVIDING it wasn't done under harrassment from said DCAs, in which case it can be reset to point one.

It's actually when the debtor writes acknowledging liability for the debt. A verbal acknowledgment wouldn't count.

[brokebutnotbeatn]

We will have to agree to differ then on that point.

 

I fully believe that if the company has written to you on many occasions, you have written or spoken back to them there should be no need for this further information they like.

 

It is a delaying tactic on their part which, should we ask them for a SAR or CCA, they would want more than the prescribed time to provide it.

 

I don't disagree, what I disagree with is complaining about their reply to a F&F (that doesn't 'clear' the debt) formally...unless it is a SAR or CCA reuest when there is a prescribed time for a response. Then yes, not complying within the timeframe should be formally comlained about.

[omoeko]

Just a new development guys, within my last efforts to pay off the debts that I own, i.e ones with good CCA, I wrote to creditors who chased the debt offering a compromise in form of a F&F offer, now one of them has written back saying they are willing to consider, but they would want to see proof of my situation P60, wage slips etc.

 

Now I am a little worried, although I have nothing to hide in showing them the P60 as the income is only about £7k for a year. what i fear is that they start calling my place of work, or have a earning attachment order against me, as they can use the info given to them against me.

 

How can I play the game with these people, I do want to sort out my debt problems, but the lenders are not helpful, my situation is, pay nothing or accept reduced F&F as I cannot maintain any regular monthly payments right now.

 

Any ideas

[sillygirl1]

No, they cannot use the information to call work or get an attachment of earnings, to get an attachment of earnings in the UK they would have to have had a court case against you and you not make the repayments to them, even then the attachment of earnings when you are on such a low wage would not be viable.

 

The other option is to tell them that they can have £1 a month as a token payment or nothing.... especially as you are on such a low income.

 

Have you checked to see if you are entitled to any benefits on

 

http://www.turn2us.org.uk

[omoeko]

Well the thing is that I dont think that I'm entitled to any benefits, the nature of the work I do is such that its not fixed, and its also temporary job as well, so there isnt any guarantee on income etc.

 

The P60 mentioned is the one that I have received, and there may be another one for similar amount, but again not much. I dont have the P60 yet though. So should I wait for it or just send them this one ?

[sillygirl1]

Try putting the figures in the website and see - you may be entitled to working tax credit at least.

 

Why send them information they are not really entitled to? They don't need this to work out you are vulnerable but if it makes you feel better send them a copy.

 

As I have said, try the turn2us site to see what you could be getting, it isn't a crime to get any money you may be entitled to for working odd hours, you need to work out the average hours per week and your average earnings per week (or monthly if that is how you are paid).

[omoeko]

Hi Guys

 

I have visited the website, and as I suspected I'm not really entitled to any benefits being that I have a property which is being let out. This will obviously count as income. On the other hand, I just received a letter from JB solicitors or so, they have included a I&E form which I will not fill in, instead I will write to them that my offer is all I have and if they are in doubt, they can take me to court and I can prove to a judge if it comes to that.

 

Does anyone have a template of a letter that I can easily use ?

 

Thanks in advance.

[sillygirl1]

A template letter will be shoved in a pile and forgotten about - you need to put it in your own words, that is the best thing. You can keep it short and simply state to them

 

Dear Idiots

 

I cannot fill in the I&E form you sent as my income is so unstable at the moment - I am offering x per month.

 

Yours

[sequenci]

You should always try and complete a budget as good as possible if you want any creditor to consider a reduced offer of payment. Granted incomes can change, but the idea of a financial statement is to reflect a point in time.

[omoeko]

Just a quick question everyone, I got a letter from Nelson offering me 50% off a Lloyds loan, the problem is that I want to sort out all the debt, as I have secured some money from family however, I noticed that the loan balance has increased by £1k since about a year ago, I dont know where the £1k came from but they have added it to the loan. I'm looking for a letter template to say I dont know if they got thier sums right, but I need to understand how they arrived at thier figure which is abount £1k over.

 

My calculations in terms of an offer equates to 25% of the loan, which is a take it or leave it offer.

 

Thanks.

[sillygirl1]

They would have been adding fees and interest, and as they are offering a 50% reduction your 25% seems very reasonable.

 

Go for it and just ask in a few short sentances, leave the legal stuff out for now. I'd write back the following

 

Dear Nelsons

 

FINAL OFFER

Thank you for your offer on this unsubstantiated loan amount, I am offering x amount as a full and final payment, payable in x amount(s).

 

This is the best way for me to deal with this unsubstantiated loan amount without getting into protracted, lengthy, costly correspondence which may end up in a legal case.

 

This offer is open for x length of time and I would appreciate your speedy reply.

 

Remember to do a signature they would find difficult to copy (I print my name very feintly in large type and then sign over it...)

 

If they don't reply within a couple of weeks you could try sending a cheque for the amount with FULL AND FINAL written on the back.

 

T

[brokebutnotbeatn]

Don't send a cheque without closing this out in writing and they will want to talk to you about your offer on the phone and they will want an I&E (although some will make a decision without). If you send a cheque it will most likely be cashed and the remainder of the loan will be pursued regardless.

[Bazooka Boo]

If they do ring, laugh and hang up, financial matters are not discussed on the phone.

And as for I&E forms, these are not required, your offer for a F&F payment is all they need.

 

If they are offering a discount then you seriously need to ask yourself why? Any debt that they offer a discount on in either unen or is full of reclaimable fees & charges.

[omoeko]

Hello everyone

 

I have been able to gather some more money from friends and family, it's now at around 11k, total debts equates to about £36k. 3k is for HSBC credit card which isn't enforceable. I have some questions, I wild love to sort out as much as possible in terms of the debt but not quite sure of how to proceed

 

1) most of the debts are with DCA and I have lost track of who is managing what, is it sensible to write to them all and make full and final settlements.

2) is it sensible to write to the actual banks

3) I have not used debt management companies like cccs or so, will the banks listen to me if i turn to these debt charities and will the bank take them more seriously if I go through them

 

Thanks

[Bazooka Boo]

Personally IMO, I would ignore the DCA's and deal direct with the OC's be it the banks or card holders.

 

What does the credit file say regarding these debts?

[omoeko]

Personally IMO, I would ignore the DCA's and deal direct with the OC's be it the banks or card holders.

 

What does the credit file say regarding these debts?

 

Thanks for the response, I have just got a copy of my credit file, I can see that all the loans that I am dealing with currently have a status of default on them.

Is there anything else you want me to provide ?

 

Also when you say deal with the banks directly, which address should I write to ?