Negotiating settlement debt sold on

[Iggster70]

I am trying to agree a full and final settlement for a debt which keeps moving from DCA to DCA.

 

The original credit agreement was a Virgin MBNA card. The debt was being collected by RMA collections and a settlement figure of 3,500 agreed with payments at 150 per month (original balance 7,300)

 

MBNA recalled the debt and sold it to Varde who refused to acknowledge any previous settlement with RMA or any payments made.

 

Varde instructed Experto Credite to collect. Experto were unable to provide any CCA documents or comment on previous payments made and have in turn passed this to another DCA, called IND. I have spoken to IND and sought to negotiate a settlement bu they insist on the full balance which they now set at 10,300 with charges and interest.

 

I have received a letter from Aktiv Kapital informing me that they have purchased the debt from Varde and wish Experto Credite to continue to collect on their behalf.

 

I have an opportunity to settle this and can rais about 50% of the outstanding balance if only I knew who to pay it to. This debt accrued due to the actions of a family member who had authority to act on my behalf and was hidded from me for some time. It is a blot on my otherwise good credit history and I am looking to apply for a mortgage in the near future.

 

Any advice on how to proceed gratefully received.

[cerberusalert]

Until someone produces an enforceable CCA you should dispute the a/c as they cannot take any enforcement. It will be a carrot to tempt them to enter into a F&F settlement.

[Iggster70]

Thanks. Should I write to the latest in the chain of DCA's or Experto Credite who are named on my credit reference agency report?

[cerberusalert]

Wait until the latest DCA contacts you in writing, do not enter into any telephone conversation with them everything needs to be in writing.

 

When they do contact you send them this; http://www.consumeractiongroup.co.uk/forum/content.php?426-A-letter-when-the-account-has-been-passed-to-another-debt-collection-agency

[PGH7447]

watch IND they litigate at the drop of a hat, with or without proof

[Iggster70]

Thanks again for your help and for the template letter.

[Iggster70]

I've not had any communication from IND yet. I contacted Experto Credite to open negotiations and was told it was now being handled by IND and given their number. I've spoken to them and theyve asked me to write or email with a settlement offer.

[mary+]

Here is a template letter for you to use I sent this on behalf of one of my clients and the debt is now passed back to the original creditor MBNA

 

Faxed **EDIT FAX NUMBER**

 

date , 2012

 

 

Experto Credite

address to be entered here

 

FAO Activ Kapital – enter reference number here

Experto Credite - enter reference number here

 

Ref: enter your name and address and post code here

 

In response to your letter dated , 2012 and received today , 2012 of which has been noted.

 

Please can you validate your claim to this amount in writing by providing me with a complete and full payment history starting from the Original Creditor to date.

 

Can you also provide me with a copy of the original agreement with my signature, with the Original Creditor to whom I had taken out the agreement with regards to the amount that you now say that I now owe.

 

If you can’t then this debt is therefore deemed unenforceable and I would therefore ask you to refrain from any further contact or I will deem this as harassment.

 

Please can you forward on to me all relevant information you hold on this claim.

 

I look forward to your quick response within twelve working days from the date of this letter.

 

I will be forwarding all complaints to OFT in regards to arrears handling. Ref **EDIT REF**

 

your name here

 

 

If you do receive a letter directly from MBNA then you can then neogiate a settlement figure. Remember the longer the debt is outstanding the more of a percentage of a settlement figure you can get.

 

Good Luck

Edited July 2, 2012 by citizenB

[citizenB]

The original credit agreement was a Virgin MBNA card. The debt was being collected by RMA collections and a settlement figure of 3,500 agreed with payments at 150 per month (original balance 7,300)

 

So an agreement for a settlement figure was already in place prior to it being moved on?? Do you have anything in writing to that effect ?

 

I wonder if the following might apply.

 

http://www.consumeractiongroup.co.uk/forum/content.php?840-Stop-your-bank-or-lender-breaching-their-instalment-agreement