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Change of Circumstances...Full & Final Settlement offers


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  • 3 years later...
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Hi

 

since late 2010 I have been managing my debts with the help of advice from CAG members.

 

Most of my creditors accepted monthly reduced payments, with one exception.

 

Two creditors, Sainsbury's and MBNA apparently 'sold off' or assigned my accounts to debt collection agencies; Sainsbury's to Arrow Global and MBNA to Idem Servicing; whilst I do not recall receiving any official document to confirm this I have checked my credit file and it confirms they have been assigned

 

Last year to stop the bank repossessing my flat I sold it, fortunately I had sufficient equity to buy a property outright; I have not updated my creditors with my new address, my mail is re-directed.

 

I still pay all my arrangements to the O/C's, and have heard nothing from A/G however I/S have instructed Arden Credit Management to collect the money.

 

I receive telephone calls/texts regularly asking me to contact those 'appointed' all have been ignored. Now I am receiving threatograms from Resolvecall stating they will send a representative to my address (THEY ONLY HAVE MY OLD ADDRESS); not worried about telling resolvecall to 'fudge' off but unsettling to have to start fighting off creditors again.

 

I have checked my credit file today and was just about to update my address, however I am not sure if this is a wise decision.

 

Whilst I have no mortgage, I am self employed and work is still sparse and there is no money to increase my monthly payments or make an offer to pay off these debts.

 

Not sure how I should play this; there was no PPI with the assigned debts so no claim there.

 

Do I update my credit file with new address, write to Arden/Resolvecall and say no idea who you are or how you became involved., lots of questions I know any suggestions would be greatly appreciated.

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I am surprised that your CRA file has not already been updated.. you would have had to register with the Electoral roll - presumably you have utilities and telephone - Credit reference agencies have access to those lists I would have thought your files were already be updated !

 

If you want to check anything on your credit files, then you will need to update it, if it isnt.

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Thanks CB

 

I am not registered on the electoral roll at present yet, one of the matters I have to tackle; however my landline, utilities and my bank account are registered at my current address, so like you I am puzzled my CRA has not been updated; I am also pursuing Barclaycard for a PPI claim which is also registered at this address.

 

My CRA has me listed at my old address until Feb 2014, without any further information.

 

So would it be best to update my CRA now?

 

I am concerned that once my old creditors realise I have no mortgage I will be barraged with a pile of demands asking for more money or threatening all sorts; statutory demands and charges etc.

 

Having come such a long way since I first posted on CAG it's disheartening to have it all 'blow again'

 

Many thanks for your comments.

 

Concerned

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I am surprised that your CRA file has not already been updated.. you would have had to register with the Electoral roll - presumably you have utilities and telephone - Credit reference agencies have access to those lists I would have thought your files were already be updated !

 

If you want to check anything on your credit files, then you will need to update it, if it isnt.

 

 

 

2 I forgot to let know (DCAs) know new address, from CRA file> not bothered with electorial roll the country always in a mess anyway no matter who is in, getting all our money/expences.

:mad2::-x:jaw::sad:
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2 I forgot to let know (DCAs) know new address, from CRA file> not bothered with electorial roll the country always in a mess anyway no matter who is in, getting all our money/expences.

 

Sorry Mike seem to be having one of those days...not sure I follow your point...do you mean update and say I had just forgotten to inform DCA's

 

 

It's not you bubbsie, that post makes no sense whatsoever.

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well it has been reported where DCA/solicitors etc send legal papers to old addresses then get a CCJ by default because consumers had not seen N1 s etc and responded to defend a case, so really it is a personal choice you have to make.??> difficult subject at times.

:mad2::-x:jaw::sad:
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Yes it is tricky, although I am having my mail re-directed, so even if a summons sent should receive it.

 

I've never tried to avoid making payments I have agreed on so I will update my credit file, do not want to appear to be evading my responsibilities, however these third party collection agents are just a nightmare.

 

Really worried now I am at last mortgage free I will be targeted.

 

Thanks for you comments Mike

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Yes it is tricky, although I am having my mail re-directed, so even if a summons sent should receive it.

 

I've never tried to avoid making payments I have agreed on so I will update my credit file, do not want to appear to be evading my responsibilities, however these third party collection agents are just a nightmare.

 

Really worried now I am at last mortgage free I will be targeted. (Same as us)

 

Thanks for you comments Mike

 

You are Welcome. good luck!

:mad2::-x:jaw::sad:
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Have you checked these are legit.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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  • 1 year later...

Hi

 

 

I haven't posted on the forum for some time now; several years ago I got myself into an awful mess with credit cards, mortgage arrears, bank overdraft and store cards, thankfully with some solid advice from CAG members I managed to come to arrangements with the majority of my creditors who froze the interest and accepted reduced monthly payments.

 

 

Sadly Barclays Bank (my mortgage providers) pursued me relentlessly and in 2013 I reluctantly sold my flat in London paid off their mortgage moved out of London and bought a small run down cottage outright; I did not inform my creditors of this change in circumstances and continued to adhere to the agreements made.

 

 

During the last two years (the maximum permitted) I have had my mail redirected, now that redirection is coming to an end and I will have to inform those creditors of my change of address.

 

 

Most of my creditors, with the exception of one, have sold off my debts to various DCA's and I receive the usual letters and texts asking me to contact them urgently since they have important information for me etc et.

 

 

I am concerned that once they are aware of my change in circumstances i.e owning my property outright they may renew their efforts to enforce the 'whole sums' owed.

 

 

I am still self employed, for the first time ever I made a loss last year and the house still needs ongoing work so there is no money to spare; I am just about to release some of the equity in my home and am considering approaching the DCA's with an offer for full & final settlement on those debts but have no idea what to offer and whether this is a good idea.

 

 

Any help/advice from CAG members would be extremely welcome.

 

 

Thank you

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Credit file time

 

What shows?

 

Dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi DX & fkofilee

 

 

just checked my credit report and my debts are listed as follows:

 

 

Idem capital Securities...not sure whether this is Barclays overdraft or MBNA C.Card...£4.600...paying £10 per month

 

 

Arrow Global...Sainsburys C.Card...paying £10 per month

 

 

Tesco Bank....Credit Card...paying £10 per month...pay them directly £6689

 

 

Marks & Spencer...credit Card...paying £10 per month (currently attempting to reclaim PPI which they have refused twice so far)

 

 

Amex...Credit card...did make them an offer which they refused in 2011...heard nothing from then since...

 

 

Link Financial...John Lewis store card...paying them £10 per month

 

 

I have reclaimed PPI from Barclaycard...

 

 

I have listed all the debts as detailed on my credit report...worse than I thought!!

 

 

Thanks

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Hi

 

 

thanks for the reply...I have reclaimed PPI on some of my debts...Barclaycard...Barclays Mortgage Insurance...Marks & Spencer refused my claim twice, stating I had asked for PPI and sent me a copy of the form where I had ticked the request fro PPI, they claim even though I am self employed their insurance would cover...just about to obtain a copy of full terms & conditions...

 

 

Bubbsie1

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Looks like you could have a lot of reclaimable amounts there, or a few with no CCA agreements. Time to start doing your homework and get mor einfo on these debts.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Hi DX & fkofilee

 

just checked my credit report and my debts are listed as follows:

 

Idem capital Securities...not sure whether this is Barclays overdraft or MBNA C.Card...£4.600...paying £10 per month - cca request if card

 

Arrow Global...Sainsburys C.Card...paying £10 per month cca request

 

Tesco Bank....Credit Card...paying £10 per month...pay them directly £6689 cca request

 

Marks & Spencer...credit Card...paying £10 per month (currently attempting to reclaim PPI which they have refused twice so far) cca request

Amex...Credit card...did make them an offer which they refused in 2011...heard nothing from then since. cca request

 

Link Financial...John Lewis store card...paying them £10 per month cca request

 

I have reclaimed PPI from Barclaycard...

 

I have listed all the debts as detailed on my credit report...worse than I thought!!

 

Thanks

 

 

get those requests off

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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And as for informing your creditors/DCA's of your new address they will already know, they're just playing dumb and

waiting for you to inform them.

 

When you use RM's redirect service, this is automatically made available to anyone who searches/marks your credit file.

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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