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hi can anyone tell me the next step please link financial bought my debt from ford credit and immediately demanded full payment of 3;700 i sent them a cca letter in which they didnt conform within the 12 + 2 but belatedly sent me a true signed copy in which they state where this request was made under section 77 or 78 of the consumer credit act 2006 this document fulfils our obligations were to go now please any advise greatfully recieved

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Hi,

Before any real advice can be given, are you able to post the "agreement" up on the forum (minus personal info)?


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sorry not that bright on here but it looks like a true copy i have the original

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Are you able to post up the CCA as although it may look like a true copy there can be lots of resons why its not enforcable.

Roughly when is it dated and was it signed by all parties

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As it was a loan (Ford Credit) was there any payment protection on it?

Does the agreement have:

Amount of credit?

The APR?

Repayment terms?

 

Was the agreement signed at their place of business or was it done by post?


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no ppi it does have amount of credit and apr and repayment terms and date and signed by both parties on their premises it looks proper to me dated 24/3/06 i am already on a dmp cant afford this what should i do ps they didnt send the cca till after 12:2 days so i did send of the second letter

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it is dated 24/3/06 and yes it was signed by all parties over to you thnks for your interest

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hi just got the original aggreement out to compare and noticed on the original copy right at the end in a box ford credit use only is empty on my original copy but on theirs is filled in also on the direct debit slip there is no ref nos although it states please fill in the whole form dont know if this makes any difference

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From what you describe, it sounds enforceable.

The differences between your copy and their copy can be explained by there being twp copies of the agreement. One which you sign and give to them and the customer copy which you keep.

If you were to add it to your dmp(It's not a fee paying one is it?), wouldn't the other crediotrs be taking less as payments are pro-rata


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thnks thought it was more likely to be,the dpm does have a fee involved i pay a total of 200 pounds per month to ten creditors £50 going on management fees should i make a offer of say ten to fifteen% of the total debt as a full and final settlement or spread it amongst the others i am now thinking of going down the same route ie unenforcable on the other debts what do you advise appreciate your help

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My advice would be to dump the fee paying one and go with CCCS or Payplan. They don't charge and most creditors will deal better with them than the fee paying ones.

 

If you haven't CCA'd all the creditors, it can do no real harm to do so but only for loans and cards-not for overdrafts.

I would do this before you swap dmp's. CCCS and Payplan don't like you removing debts from the dmp when they are unpaid.

 

If the debts are still with the original creditors, I think they won't accept such a low F&F however, if they can't supply an agreement, it "might" put you in a better position when offering a low F&F.

If the debts are with a DCA, that is better (if that's the right word) They paid less than the full amount of the debt so may be more amenable to a low F&F.


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thanks am actually thinking of going to a company called innovative finance who manage the debts plus do all the cca work with all of the creditors for a lesser fee and they hope to either write some of the debt off or get it drastically reduced they claim to have a team of lawyers etc going over the cca,s have you come across this company? thnks for your interest

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I'm not familiar with the firm you mention but I would be genuinely sceptical that they don't/can't do anything you can't do yourself. Research carefully and act with caution mate.

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i realise i could cca them all myself but some experience looking over them would spot something in error or wrong i would imagine will post on here my progress thanks for everybodys interest and advice

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If you post up the CCA's here you will get the advantage of many experienced heads as opposed to one head (with a vested interest). Wisdom of crowds and all that...

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i realise what you are saying it makes a lot of sense but the time involved and stuff i am not familiar with it seems in my circumstance it makes more sense to pass the buck and see how it goes the last 18 months i have had things couldnt get any worse i am in unfamiliar territory and need to get sorted pronto or i lose everything i have worked so hard for thanks so much for your input

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Hi

 

See today's OFT announcement on Debt management Companies: OFT website.

 

regards

 

vic

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If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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