old car debt sold to DCA - who do i F&F too?

[7ewis7]

hello

 

i am currently in the process of paying off the last 2 of my 9 debts,

 

in total i owed in excess of 10k,

 

over the past few years i have managed to clear a considerable amount,

 

currently im down to £3200 owed to DLC/hillesden on behalf of a car finance loan from blackhorse.

 

all of my previous debts were paid off in full either as a full payment or payment plan over a set amount of months,

the last debt totals £3200, in this case i am wanting to send a letter to offer a settlement figure and need some advice.

 

first of all im not sure whether i would need to send this to the original creditor;

black-horse or would i send it to the debt collection agency hillesden/direct legal collections.

 

also i am hoping to offer a reduced offer, any tips/realistic % to offer

 

any help is greatly appreciated and i look forward to hearing from anybody who has similar issues or can help

 

thanks

[renegadeimp]

With regards to these debts. Have you checked to see if they are even enforceable and youve reclaimed any and all penalty charges/insurances on the accounts?

 

If you have reclaimed everything, and you have checked that the debts are actually enforceable, then you can start negotiations. If a DCA owns the account, then you could start at 15%. If the DCA is only acting on behalf of a creditor, then ignore the DCA completely and negotiate with the creditor.

[fkofilee]

Stop!!!! Right, with these debts, have you checked for the following?

 

- Late Payment fees

- Penalty Fees

- PPI or Equivalent

 

You would also send the Offer letter to the original creditor, make sure you get it in writing it would be FULLY SETTLED

[7ewis7]

thanks for the speedy replies,

 

i have successfully reclaimed ppi and interest, on the debt in question,

 

what do you mean by late payment and penalty fees? @fkofilee

 

also how would i check if the debt is enforceable? @renegadeimp

[theoldrouge]

Hi and welcome to CAG

 

Before you do anything send a cca request to DLC,

 

Do you have all the statements of your ac, so you can check what fees have been charged

 

if not send a SAR to Blackhorse.

 

When does this ac date from?

[ims21]

 

 

You would also send the Offer letter to the original creditor, make sure you get it in writing it would be FULLY SETTLED

 

That would very much depend on who owns the debt. If the debt has been sold on then the OC would not be the one to negotiate with.

[7ewis7]

Thankyou

 

i have the account statements, will have a look and have them organised tonight/tommorow,

 

the original agreement started in august 2008, i voluntarily forfeited the car in 2009 and if i'm correct it defaulted in 2010 will have to confirm dates

[dx100uk]

if you've paid off / reclaimed on other debts already

 

why do you not already know about this debt being legit or not?

 

you do realise paying off a debt

does stuff all to your credit worthiness

 

and all you are doing is prob lining the pockets of DCA's and debt buyers?

 

dx

[7ewis7]

pressure from a very demanding fiancee in regards to sorting my credit file

and clearing debt in order to get a mortgage in the future,

 

so i guess i did alot of things and made payments/agreements in haste, however im in the process of learning more about debt,

 

i dont dispute the debts as they are my responsibility so i do want to repay them

 

however if there is an easier way to deal with them or ultimately help me clear the debts with less loss to finances

and less stress then id obviously want o take that route

[theoldrouge]

you definitely need to be checking the figures and circumstances surrouding the Voluntary Surrender,

 

or was it Voluntary Termination,? of your car

 

together with any associated charges, in addition to the above requests

[7ewis7]

i will give blackhorse a phonecall tommorow and ask who i need to contact in regards to the surrender and where i can obtain the terms and conditions,

is there a specific way to do this or are they likely to tell me how to do it over the phone?

[theoldrouge]

you really need to send them a sar, which should get you all the details inc,

 

the important comms log

[dx100uk]

paying off your debts if they already have a default in the summary line

does not improve you chances of a mortgage.

 

any default will kill a mortgage application stone dead.

 

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off or not.

.

the WHOLE ACCOUNT WILL VANISH, never to return.

.

however, this does not mean the debt itself is not still owed

consider a CCA request.

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

[7ewis7]

okay i have the templates, will personalise them tonight and post tommorow, really appreciate the advice so far

[7ewis7]

dx100uk

 

so i cease payments until i do or dont receive the cca, and then if its found to be unenforceable then will it be written off?

also if it is enforceable would it then be wise to then make an offer? or am i to drag it out until 6 years after the default? (2016)

[dx100uk]

don't sign the CCA

leave the £1 PO blank.

 

as for the sar

 

if you have moved since you took out the finance

 

inc your old address

and a copy of your current CTAX bill.

 

sign the SAr.

[dx100uk]

dx100uk

 

so i cease payments until i do or dont receive the cca,

 

and then if its found to be unenforceable then will it be written off?

 

also if it is enforceable would it then be wise to then make an offer?

 

or am i to drag it out until 6 years after the default? (2016)

 

don't stop payments until/if they fail the 12+2 working days deadline.

 

no the debt is not written off

 

just becomes unenforceable until/if they ever find the enforceable agreement.

 

dx

[7ewis7]

okay i understand, well seeing as i intend to pay the debt then would all of this be a waste of time? or will i potentially find out that the figure i am being asked for is higher than they are entitled to?

[dx100uk]

it already smells to me.

 

they have been known to only tell people about VS [full value payment]

rather than VT [50% of agreement]

and they add heaps of PENALTY fees

repo fess

etc etc

and the insurance they told you you had to have [PPI/GAP Mach breakdown?

[7ewis7]

Hi just to confirm I do sign the SAR and leave the £10 postal order for the SAR blank? Or do I sign that aswell

[dx100uk]

you can sign both

[7ewis7]

Thanks

 

All done so I guess it's a waiting game, thanks for the help so far and I will update as soon as I get a reply or of I get a reply should I say