Long Standing DMP, How to make a settlement offer, Please Help!

[eco101]

I have been on a DMP with the charity Step Change for a number of years,

the original debts being a Lloyds Bank loan I was encouraged to take on as a "consolidation" during a bad patch back in 1999,

and a credi card still with Lloyds going back the same period,

totaling about 20.000 plus couple of "minor" cards and an overdraft, totaling around 25k.

 

After few years of re-payments, I managed to bring back the balance which currently it's around 12.000,

however I have recently separated from my wife and this has had a pretty devastating effect, on the financial aspect of things as well as everything else,

 

I have 3 children and things just don't add-up.

I currently have access to a relatively small amount of money which is the result of a share of the sale of an old property, about £6'000

and rather than seeing it disappear as they will

 

I am thinking of trying to offer a settlement to the various creditors,

who are

 

 

Akinika Debt Recovery (5.500.00)

Pira Group Barclays (1000.00),

Npower 707.00),

Lloyds PLC (397.00)

plus Cabot Financial, who just took over from Allied International Credit and is not currently included in the DMP.

 

As I haven't test spoken to them but they are writing about their acquired balance of £6'321,

it seems a bit of a long shot to put an offer to each of them totaling £6000,

 

 

but the truth is I will have to ty, failing that, due to my new circumstances

I wouldn't be able to keep up the £357 monthly payments to Step Change

and the only other option I can see would be filing for bankruptcy.

 

With all the consequences of the case on my job etc, in any case I wouldn't know where to start with offering settlements,

and above all without risking losing the sum, or how to make sure that they would actually agree for it to be a final settlement

and not just an extra payment, and would it be better to approach them myself,

as I suspect Step Change wouldn't enter any hard- negotiation of this sort on my behalf?

 

 

Is there a template letter I could use to get me started?

 

 

Have I got any real chance here?

 

 

any help would be greatly appreciated, sorry to be so long

Edited December 14, 2015 by Andyorch
Paragraphs

[mikeymack2002]

Before making any offers get a CCA request off to all of your creditors...

 

For these templates please click the link above

[eco101]

Before making any offers get a CCA request off to all of your creditors...

 

For these templates please click the link above

 

Thanks, do you mean the link for the CCA request templates, or for a template for a letter of offer of settlement, or both? also just to fully understand, would I request a CCA to check if any of the debts are still enforceable?

 

Many Thanks

[dx100uk]

I would not be paying anything to anyone

without checking they have the legal paperwork to even demand money from you.

 

 

step chance never do any checks

they just blindly pay people.

esp fleecing DCA's.

 

 

dx

[dx100uk]

Akinika Debt Recovery (5.500.00) - send a CCA request

Pira Group Barclays (1000.00), - send a CCA request

Npower 707.00), - pay it off

Lloyds PLC (397.00) - send a CCA request

plus Cabot Financial, who just took over from Allied International Credit and is not currently included in the DMP.- send a CCA request

it worries me you have debts being passed around DCA's

this smells of you being cash cowed blind for years.

why don't you send an SAR to Lloyds

as if most of your debts original from them

there could be lots of PPI and penalty charges to reclaim?

dx

[eco101]

Thanks, there could well be PPI to reclaim,

Lloyds even sent me a letter stating I had PPI on the loan,

this came at the time of family chaos following separation

and could not deal with it at the time.

 

 

..PPI claim looks like a jungle yo me and do not know where to start with it,

I shall visit the appropriate forum and start a thread there

 

with regards to CCR, I will send requests to all bar Npower,

but it is still unclear to me what to do with it once I receive them?

 

and what is the difference between SAR and CCA??

[dx100uk]

CCA request goes to anyone you are currently paying

it compels them to produce the signed agreement they must legally hold

to demand payment from you.

 

 

however if any of your debts are bank accounts, they arenot covered by the Consumer Credit Act.

 

 

many dca's simple spoof people with powerless threat-o-grams

making you think they are things like bailiffs and can get you in to jail

the truth is they are powerless and have no such legal powers.

just pocketing your money

the OC wrote the debt off years ago and sold it on to the fleecres

 

 

an sar goes to the original creditor of a debt

[but you only need ONE per bank for all accounts they hold about you.

 

 

that gets the statement to go reclaiming.

 

 

read the CCa and sar threads

all is explained there

[citizenB]

Reclaiming PPI is quite simple - if you know it was on there, send a Subject Access Request for your statements. Once you receive these, then you just complete one of our spread sheets and then ask for your money back. If the debt is still with the original creditor, they will almost certainly want to offset any refund against any outstanding balance (if there is any left over this would be sent to you).

 

I would be inclined to repay the Npower debt if you have the funds to do this as this is a priority debt.

[eco101]

yes I thought Npower will be first to approach, regarding PPI, the original Lloyds Loan was passed on multiple times...

[eco101]

I'm not sure if there is a specific Forum for PPI, I couldn't find one to start a new thread, but basically once you have all statements relevant to the Loan Account in question, how do you calculate the amount of PPI in it, and what percentage of those can you ask to re-claim?

[dx100uk]

not an issue

post here for now

but I'd get all the info on everything first

 

 

dx

[eco101]

Ok will do, thanks, and then will start a thread on PPI

[eco101]

Ok, Happy New Year to all and all that, so everybody has now responded,

namely CABOT, which was the original Lloyds Credit card,

have sent a letter declaring that they do not hold the requested infos on file

and because they will have to request documents from original lender,

while acknowledging the 12 days limit over which the account becomes unenforceable

, they anticipate a time of 40 days to provide the informations,

 

Akinika, who took over the original Lloyds Loan,

have responded more or less in the same tone, b

ut arguing about their duty to provide informations about having bought the debt,

which they say it wasn't bought but marly passed on to them by Lloyds,

I'll see if I can upload their letter

 

Then there's PRA who took over from Barclaycard,

they say that again, they will provide the original agreement which they have requested from Barclays,

but again, they will not provide a certified copy of Deed of Assignment,

as it contains "sensitive commercial informations in relation to their business"

which means they are not obliged to provide me with these!

 

The most interesting is Lloyds themselves,

who have promptly provided copies of the original agreement

(this would be the same loan that Akinika are chasing), again will try to post here ,

 

 

where it clearly shows the detailed original agreement including the PPI amount etc,

and copies of statements showing payments, including PPI,

 

 

interestingly, the agreement and statements relates to the second loan,

the one they pushed me to take on as "consolidation" and "best way to borrow"

by an arrogant bank "supervisor" after I found myself in difficulty

 

There was an original loan which was greatly responsible for the future financial problems

and consequent spiraling debts, and ultimately the big "consolidation" loan of 2007

 

There is no mention anywhere of this original loan which approximately goes back to 1997, and with which I was sold the PPI product,

which I was advised by the Lloyds agent, would help the approval of the loan,

even though, as self-employed, I should have been advised against

 

The thing is, how do I go about to request details of that original loan, that became part of the later "consolidation" loan?

 

Sorry for the long post but it is obvious I have multiple problems on my hands and despite managing to reduce the debt overall over the course of the years

, I am faced with the Lloyds PPI side of things which looks like could generate some relief,

while at the same time making sure I don't need to pay a penny more that I have to towards all the others

 

Thanks in advance

[eco101]

I have tried to upload scans of the response letter but not sure if they are actually visible?

[honeybee13]

I have tried to upload scans of the response letter but not sure if they are actually visible?

 

Hello. Yes, they're visible. If you can't see what you just posted, try clicking the Refresh button on your browser.

 

Sadly, I've had to remove your post because you've left account numbers and your address on the attachments. Please depersonalise them using a program like Paint and repost. It's best to keep things anonymous.

 

HB

[havinastella]

What was that letter in relation to?

 

It means sod all.

[eco101]

Ah yes, fair enough, I will block name and address and re-post, thanks for that

[eco101]

there are 4 four letters one per creditor and they are responses to my CCA and SAR requests to them...

[renegadeimp]

There seems to be a template going around various DCA's that reference DOA when that was never asked for. I bet none of them hold the correct paperwork which is why your debts have been passed around and step change never questioned it.

[eco101]

Thanks I have now blocked off my header off all letters and I am re-posting them now

[eco101]

..

AKINIKA CAG BLOCK.pdf

CABOT CCA BLOCK copy.pdf

PRA CCA BLOCK copy.pdf

LLOYDS CAG BLOCK copy.pdf

LLOYDS 2 CAG BLOCK copy.pdf

[eco101]

Hope they are visible, but can PRA get away with just declaring that they are not obliged to provide me with a copy of deed of assignment because these include sensitive information in relation to their business??

[dx100uk]

dunno where this DEED of assignment request is coming from.

 

 

its NOT on any of our CCA request stuff

 

 

if you asked for it then where did you get the template you used from.?

 

 

however they are quite correct.

[dx100uk]

unapproved

 

 

loan and various other pers info still showing on one or more docs

 

 

dx

[eco101]

I sent them two letter using templates, both found them on the templates page here, one being the CCA request, the other being the Assignment Request Template....in which it is requested to be shown the "Written Assignment", a document that may also be referred to as the Sale Agreement or the Deed Of Assignment (I am quoting the template), I have used this template, as advised on this thread, to ask to see proof of a debt being passed from a company to another....