Negotiating debt payback MMF & old Sunny PDL

[puma85]

I have a couple of relatively small debts, and I'm trying to get them to accept a full and final settlement figure.

 

I read that the best tactic is to offer a much lower amount, say 80%, and most will come back with 40%-50%.

 

One company has replied (Motormile Finance). The debt is for £462.74. I offered £200 to close the account and this is their reply...

 

Debt balance: £462

Debt: Sunny Payday Loans - Debt assigned to Motormile Finance UK Ltd.

 

Further to your recent communication, I would like to offer you the following information.

 

Motormile Finance UK Ltd recognises your willingness to satisfy your liability to us by offering a payment of £200.00 to close your account, unfortunately your offer does not meet our criteria. However we are in a position to accept a settlement figure of £370.00 to close your account.

 

If you wish to take advantage of the settlement offer, please can you forward me the below details in order to process the payment:

 

- Debit Credit Card Number

- Expiry Date

- Security Code

- Name as appears on Card

 

If you are unable to settle your account, we are willing to accept a repayment plan.

Please reply direct to myself via email, I will be your account manager.

 

 

This equates to a 20% reduction. Should I press for more? What is the best way to do this?

 

Thanks!

[dx100uk]

pers I'd never pay MMF anything

 

I hope you've sent CCA requests FIRST to everyone.

 

paying the debt will not improve you credit rating either.

nor remove any defaults

 

dx

[dx100uk]

moved to the MMF forum

 

 

dx

[puma85]

Ok, Thank for the information.

 

No I haven't requested a CCA. Is it too late to do this now?

 

I was loosely basing my 'plan of attack' around this post

thread 20758 (I cant post links)

 

As both debts are around £400, I'm in a position to pay both off immediately. So I was hoping to get some debt reduction, then just pay both in the next few days.

[dx100uk]

tell us the history please

 

and what is the other debt please

 

dx

[puma85]

both are payday loans. The first MMF/Sunny isn't on my Noddle credit report, but the second is.

Both are pretty much the same as far as dates/debt.

 

LENDER BALANCE UPDATED STATUS

Payday Express £543 20/09/2014 Default

 

Account type Advance Against Income

Account number ****

Account start date 18/03/2013

Opening balance £ 428

Repayment frequency Monthly

Date of default 17/08/2013

Default balance £ 428

[dx100uk]

have you the full statements for both?

 

if penalty charges have been added

you can reclaim those

 

have they both been sold on?

 

dx

[puma85]

The first debt I mentioned (Sunny/MMF) has been sold on. Sunny to MMF. All I have is a letter from MMF. I assume they have added penalty charges, but I don't know how much. (this debt isn't on credit report).

 

The second I only know about because it's on my credit file. I haven't been contacted about this, although I possibly received a letter last year to tell me I have defaulted on the repayment. The credit report has Payday Express as the lender, so I assume this hasn't been sold on yet.

Edited October 27, 2014 by puma85

[puma85]

this is Noddle (CallCredit)

 

and the same debt in Equifax.

Edited October 27, 2014 by puma85

[dx100uk]

id be getting the statements

[puma85]

Ok, this is interesting. I was just taking a look through my junk mail and came across this from Sunny (who the original loan was with). This was sent about 5 weeks ago.

MMF are requesting £462.74 for this debt.

 

 

Edited October 27, 2014 by puma85

[dx100uk]

that's nothing just a NOSIN[a] email.

 

if you owe it

pay them directly.

 

dx

[puma85]

OK, so I should be able to pay Sunny even thought the debt has been sold on to MMF?

Can I negotiate with Sunny? i.e. send a request for the debt to be cleared for £200? or can this only be done with the debt collection agencies?

 

Thanks for your help!

[dx100uk]

have you received Notice of assignment?

 

if the debts have been sold

it will show the buyer against the CRa file debt not the OC.

 

if they've been sold

 

invariably that means something is wrong somewhere

[puma85]

Ok, I'm slightly confused now. I'll try to condense the above ^

 

I took the debt out with Sunny at the beginning of the year. Missed a couple of payment's and it defaulted.

 

The only communication I've had is;

1. 17/9/2014 Sunny sent me the email above (which went into junk mail) requesting a total of £267

2. letter from MMF (who say they are representing Sunny) requesting £462.74

 

None of this is on a credit check. I've signed up to Noddle, Equifax (free 30 days), and Experian (free 30 days).

 

What is my best course of action?

Should I negotiate with MMF or contact sunny directly.

[dx100uk]

MMF are representing sunny

 

deal with the grinder NOT some powerless dca.

 

you will ALWAYS get a notice of assignment if a debt is sold.

 

in the true spirit of everything cag

that we've learned about MMF..NEVER EVER PAY THEM A PENNY

 

dx

[puma85]

Ok thanks again!

 

I will contact Sunny and propose to settle the debt for £200.

I'm hoping if I get this closed pretty quick it wont appear on my credit report (as it hasn't yet).

 

just logged into my sunny account and have found this.

[dx100uk]

deal with sunny or get all the statements

 

something smells here

 

dx

[puma85]

Ok, thanks. I've sent an email to [email protected] requesting to clear the outstanding debt for £200. I'll update you when they reply.

[fkofilee]

Good advice by DX all the way through...

 

if paying the original creditor , always do it by standing order...

Dont give them your card details as they will clear out your bank account

[jotty]

I have had a long running email line with a lad called Darren ? at MMF

who I can only think doesn't know how to tie his shoelaces and wears a baseball cap with "killer" on the front,

as some of his replies have been beyond laughable.

 

They wanted £1300 in refinance fees for example which Darren seems to think are totally lawful !!.

 

Problem is they are "arm bending" us all into paying excessive fees using the default markers on credit files.

[renegadeimp]

Not blackmailing at all. the default will be added on my the OC. NOT MMF. MMF must also update the record as a true reflection of the status of the account.

 

They cannot add on charges or ANYTHING unless your original contract says they can ( which 99.9% of the time it doesnt. Even if they are allowed, they can only add on small amounts, not thousands.

 

Thats why we say to laugh at their purile attempts at getting money and start getting the paperwork needed to sort it out. MMF will do court, but ONLY if they are convinced of a default judgement or that the person they are harassing and threatening will pay up without question.

[jotty]

It becomes a form of "arm bending" when the debt they are trying to recoup contains unlawful and excessive charges, for a £250 loan they will insist on enforcing the original debtors figure which can run into thousands.

 

Problem is when a good honest offer is made to repay the original loan then they try and do deals to get as much as possible even when they would have paid peanuts for the debt.

 

I doubt very much if any judge would agree with their claims but along with refusing to amend the default entries they put us in a situation whereby we have to pay the charges or be stuck with bigger problems.

[renegadeimp]

Be very careful when using that word. You need to get the paperwork in order to be sure what you are accusing them of.

[jotty]

Not sure what you mean buddy,

but if they really wanted to help us clear our debts properly then serves no-ones purpose if they insist on trying to claim back fees and charges which are now being finally recognised as wrong.

 

Holding out and just letting people who are already in trouble get further in the brown stuff are not the actions of a caring sharing outfit they claim to be.