debt and bankrupcy help

[karenr31]

Thank you.

[karenr31]

hello ,

advise what to do .

 

got a letter today from shoosmiths llp solicitors instructed by bos to recover balance outstanding,

 

Saying the balance is our responsibility and its important that a mutually acceptable payment is agreed at an early stage.

 

saying our client wants a reasonable resolution and should we be unable to pay in full other options are available which will enable us to resolve our liability as soon as possible.

 

want us in the first instance to call them but enclosed is expenditure form and payment proposal for full and final

asking to state the full amount we wish to offer in f&f and other option monthly payment offer.

 

dont want them to be checking this site so lets say the outstanding balance is 40k,

we want to offer 10% is it likely they will accept?

 

should we also do the income and expenditure ?

 

also states we can email them.

 

help please

[dx100uk]

so this is the overdraft?

 

might be a lot better if all these debts get their own thread

 

dx

[karenr31]

no its not the overdraft it is the morgage shortfall

[dx100uk]

ok sri

 

so they 'appear' to be offering a discount.

 

dx

[karenr31]

hello again, They havent exactly offered a discount but is a part on the form for us to put an offer for f&f ! should we fill in the income and expenditure?

[citizenB]

They will want to see your personal financial situation. If they consider that income could net them more by way of an instalment plan, they might well refuse a F&F offer

 

Did you speak to National Debtline ?

[karenr31]

I have sent a letter with the template from national debtline with full and final offer, we just have to wait on reply. will keep you posted.

[citizenB]

Best of luck

[karenr31]

Can anyone advise about full and final offer for overdraft debts?

 

cabot have been sold our o/d,

do they need supply me with anything to say they bought the debt?

are they likely to accept a full and final and if so is 25% likely to be accepted.

[citizenB]

Yes, they must send you a Notice of Assignment (either them or the original creditor) . You could test the water at 25%, but you would need assurances that any balance will not be sold on for someone else to have a go at pursuing.

 

If you are not sure they are the owner of the debt, then send the attached letter.

 

[ATTACH=CONFIG]45449[/ATTACH]

[firstship]

CitizenB has given you the way forward,it is a good idea to include in the letter a small paragraph along the lines of" you are also required to advise me as to the amount paid for the debt"

 

They are not required to do this,and will give the excuse that it is commercially sensitive data,however they may just slip up and tell you.We are aware it is as low as 4p in the £ and the average appears to be 7p in the £

 

Good Luck

 

FS

[dx100uk]

are you desparate to settle it.

it wont go off your cra file for 6yrs if you do.

 

if its mostly penalty charges then

your stance should be very very low.

 

dx

[karenr31]

Have tried to settle with most creditors as want to do the right thing

, letter today from Barclaycard loan,

 

we req f&f on a £6k loan and we recd a letter today,

 

we write to advise we are prepared without prejudice to accept £1.500 in full and final settlement of the debt provided payment is made by 10/09.

 

can anyone advise if this letter is okay as im happy to go ahead with this if it is.

[dx100uk]

have you got all the statements?

 

dx

[karenr31]

yes why? im happy to pay just need to make sure the letter is okay . thanks

[dx100uk]

then there must be penalty charges and ppi to reclaim

 

that will be the discount they are offering?

 

could be more there under a reclaim than what they are offering.

 

if you do F7F

just make sure you stipulate they remove ALL negative markers [late/over etc]

 

and mark the debt SETTLED, not PARTIAL SETTLEMENT.

 

as that wont make any diff to your cra file if they don't.

 

I know it sounds weird

but why do you want to pay this?

 

need a clean CRa file?

 

dx

[karenr31]

Thanks for reply DX,

i just want to to do the right thing, not interested in my credit file as have no intention of ever repeating the debts .

 

I take it we should write back asking for it in writing that they mark the debt fully settled on credit file and remove negative markers?

 

The letter does say they would accept f&f settlement of the debt is that not enough ? k

[dx100uk]

no its not enough

 

basically it would be a waste of the money

 

if it were not marked settled and markers all removed.

 

i'm sure we've travelled this road before

 

its all very well 'doing the right thing'

 

but who says you ACTUALLY owe all this money

 

I bet you don't.

 

if they are offering a discount

 

that means there is something WRONG with the debt.

 

no big institution would offer a discount

when they have the full power of the courts to force you to pay.

 

tell us the story of the loan

 

and pers i'd be getting that credit file too

 

what is the status of this debt on there?

 

something smells here big time

 

dx

[karenr31]

Hi , sorry for delay in reply,

checked noodle report and debt showing in default,

 

this was a refinanced loan and we owe the money,

 

we asked for f&f and advised it was to prevent bankrupcy,

 

we have sent letter asking for account to be marked settled in full and just waiting on a response.

 

Thank you

[dx100uk]

so this was a refince loan what was the previous debt?

 

this could have charges/ppi that were rolled over and had even more charges & ppi add

 

could be lots to reclaim here

might wipe the debt.

 

you really should be sending Barclays an sar.

 

what is the default date please

 

dx

[karenr31]

sorry for the late reply,

 

there is no ppi or charges on the barclays account,

 

we sent a letter and they have failed to respond although letter was signed for,

 

we have until today to pay,

called barclays and they say the letter they sent was stating they were accepting a full anf final settlement

and the account would be marked as partially setl. ted and that this was normal

they also stated account would not be sold on . should we pay?

[dx100uk]

IMHO NO!!

 

they have offered a discount, so there is something WRONG with the debt

you need to find it

 

you need to SAR Barclays

 

they paperwork you show indicates this was a refinance of a previous debt.

 

you need to be sure that had no PPI or PENALTY charges first.

 

as for the marking of partial settlement.

 

if theres not previous default on the cra file

then you are resetting the 6yrs clock on the cra file

 

and a PS is just as bad as a default.

 

so will scupper any financing plans for a further 6yrs [if there is no default date already showing]

 

ideally you should press for it to be marker settled, and all neg data removed.

 

dx

[karenr31]

Hello,

In 2013 we sold our home with a shortfall of over 37k.

We had an arrangement in place with Shoesmiths through the Halifax and had continued to pay £40 per month .

 

In March this year the Halifax wrote to us and advised they had transferred the debt to Moorcroft group , No reason and no missed payments .

We have continued to pay Moorcroft at same amount .

 

My question

is there is nothing on our credit file and mortgage shows closed and nothing showing anywhere for the shortfall .

We will be long dead before this is paid !

Will we need to pay this for the rest of our lives or is there a time limit ?

 

We have also been paying monthly payments to CSL AND lowell for debts that are no longer on our credit file ,

Can we stop paying ?

Many thanks in advance for any help .

Much appreciated .K

[fkofilee]

Moorcroft dont do court....

 

Let the others offer advice though...