Credit card debt and DCA letters

[s3cure]

hi, i have had an M&S card with outstanding balance

since I stopped paying back about 6 years and I have been unable to pay it back due to ongoing financial difficulties.

 

I ahve been contacted by DCAs one after the other and lately a company called Credit Security has been on my nerves with threatning letters/calls.

 

Due to this debt, I have got bad credit rating for a while now.

I had once sent a CCA request to M&S and they sent me the agreement.

I then sent them a SAR in return to which they sent me a form to sign which I never did.

 

I am now thinking to somehow get this debt off my shoulder but although I have work I am still struggling with my finances every month and go overdraft often.

 

I am thinking to borrow a small amount off my family/friends and get the DCA/M&S to agree on a full and final figure

to settle the debt but I do not want to speak to the DCA on phone as they sound like thugs.

 

I need some guidance on how to approach this and how much to offer etc. my total debt on the card is £5000+. Many thanks

[rebel11]

Hi s3

 

Have you got any Penalty Charges or have you been mis-sold PPI on this account?

Have a read of 1, 2, 3, 4, 5, 6 ,7, 8 and 9 in my signature.

 

 

Thread moved to correct forum.

[cashins]

Check the date of your last payment.

 

If it is six or more years the debt is statute barred - they cannot take you to court.

 

David

[dx100uk]

why is it showig on your CRA file

 

have you checked since it went 6yrs since last payment?

 

should not really still be showing...

 

and i'd NOT pay anyone anything!

 

its gonna be SB'ed and gone totally

 

if not already, very very soon!

 

dx

[firstship]

You need to check your Credit File if the date is 6 years ago it should have dropped of your Credit File,and in turn although the debt will still exist it becomes Statute Barred and would not hold up in court..

 

Check it

 

Regards FS

[s3cure]

Thank you all very much ... i need to check as you all suggested that last payment date which may not be as i think ... but because its been so long i can't exactly remember ... i guess the best way would be to check my credit file right ? I shall do that soon and will update this thread ....

@rebel11: thanks for the comprehensive list of info ... i shall read through it one by one ...slow reader regards

[s3cure]

hi, it took me a while to read through various docs and also to find out my last payment. I took the card in Oct 2005 and the last min-payment I made was in Oct 2009 which means unfortunately it won't qualify for statuary barred. In the past (an year ago) I had received a 50% final payment offer spread over 3 months from one of the DCAs out of many so far (fenton cooper). This suggests that I could possibly make a much smaller offer (5-10% may be) but i just don't know how much i should offer and whether i should offer it to the DCA or MnS.

[PriorityOne]

hi, it took me a while to read through various docs and also to find out my last payment. I took the card in Oct 2005 and the last min-payment I made was in Oct 2009 which means unfortunately it won't qualify for statuary barred. In the past (an year ago) I had received a 50% final payment offer spread over 3 months from one of the DCAs out of many so far (fenton cooper). This suggests that I could possibly make a much smaller offer (5-10% may be) but i just don't know how much i should offer and whether i should offer it to the DCA or MnS.

 

If this is doing the DCA rounds in the way that you suggest..... and they are offering huge "discounts", then it implies that that the doc. M&S sent you is a load of tosh.

 

If I were you, I'd start this journey all over again and send a fresh CCA request to whoever is currently chasing you for payment.

[dx100uk]

yep

anyone offering a discount

knows its either crap paperwork

or

its all unlawful penalty fees & PPI

 

that payment you talk of

how did you find that out?

if you are going by the CRA file

it could be a 'phantom' payment

DCA's often claim those to extend the SB period.

 

it rare for a poster to be SO far out on their payment guessing.

 

dx

[s3cure]

I found the last payment by looking through past paper work from MnS where they sent me a default notice in around Nov/Dec 2009. I have requested a statuary credit report from Equifax a few days ago but haven't received it yet. The last time I sent a CCA request for the same card (can't remember to which DCA) they did send me the actual application form with my signature on and the copy of agreement, although there is no way either me or MnS can prove that the copy of the agreement is actually the one I signed because my signature is only on the application. Anyway I don't know how strong or week case they have against me and if they had a strong case why have they not gone into court for it so far or do they ever do so is another question. Do you still suggest I should send a fresh CCA to the "latest" DCA (i.e. Credit Security)?

[dx100uk]

per i'd not bother

 

90% of debts where a discount is offered

means there is an issue

the stops them going to court.

 

have you had lots of penalty fees [over/late/letter ] etc

or

ppi

 

to reclasim?

 

dx

[PriorityOne]

 

Do you still suggest I should send a fresh CCA to the "latest" DCA (i.e. Credit Security)?

 

Yes. Checking credit files won't stop anyone from taking legal action against you, should they own the debt and feel that way inclined. I don't understand the (modern?) CAG pre-occupation with constantly advising people to check credit files to be honest, but hey ho....

 

Just make sure you cover all your bases.

[s3cure]

i have paid penalties and had late payments not sure of PPI though and can't remember the amounts either .. i wonder if i could repair my credit file by paying a small final payment ..

[PriorityOne]

i have paid penalties and had late payments not sure of PPI though and can't remember the amounts either .. i wonder if i could repair my credit file by paying a small final payment ..

 

 

No... you can't..... and it would be a foolish move to pay a company that has no legal entitlement to your money anyway. They will just take the money and your credit file will stay the same.

[boogiemaster]

Lowell's never offered me a bloody discount and my Capital one debt is six years old in July so not long to wait.

 

Its a shame they never offered me a discount because I could have paid it off with my new Capital one credit card