Partial Settlement vs Full Settlement

[mrdonj]

Hi guys. My question is pretty straight to the point. I am trying to become debt free. I have a few accounts which have defaulted. The accounts that have defaulted are the following:

 

2 accounts defaulted in 2011 - £100 each, no payments made towards either

1 account defaulted in 2014 - £390 Currently making token payments of £1 for the past year

 

I managed to clear off two accounts before they defaulted. Now, what is the best course of action regarding the 3 defaults, which remain for 6 years? both defaulted accounts in 2011 have offered a 60% settlement. Won't change the default mind.

 

Not sure what is better in terms of my credit file since the defaults have already messed them up. Let them drop off after 6 years, partial settlement or settled.

[dx100uk]

wasting your money.

 

 

defaults are there till they reach 6yrs

 

the ICO say:

 

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.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

 

have you checked the enforceability of the debts?

who owns them?

any reclaiming to do?

[mrdonj]

The two £100 defaults are with Lowell

 

The £390 is with Natwest

[dx100uk]

The two £100 defaults are with Lowell - time for a CCA request on each

 

The £390 is with Natwest

 

 

its still with the original creditor then

 

 

what type of debt is it?

[mrdonj]

Lowells, both mobile contracts.

 

Natwest, overdraft and charges which got frozen eventually.

[dx100uk]

urm..mobile phone contract..

 

 

why do you owe those?

are they fleecing you for the full term

and you simply stopped its use

 

 

tell us the stories here

sounds like you are being fleeced.

[dx100uk]

as for NatWest

ever looked at reclaiming?

[mrdonj]

One was with Three, the other was with EE.

 

The three bill was a favour for my dad who was at rock bottom at the time.

Got the contract out in my name, everything was up to date.

 

EE (T Mobile at the time) was my own bill.

I lost my job, ended up being three months behind on my EE bill.

Few months later, Dad lost his, Three bill ended up being behind on payments.

 

Things got better a year later but at the time I hardly even read the debt letters I was receiving so just ignored both.

Have sporadically received letters from Lowells regarding it, probably two/three a year.

 

I don't remember the exact figures, but it was along the lines of.........£35 a month.

Didn't pay the full bill, but to stop not being able to receive calls, I would pay say £10.

Then the following month comes, £35 plus the £25 I owed from last month,

 

 

I pay a piece of it, but not the whole lot so I can still get calls and so on.

Happened with both.

 

Natwest, I haven't tried actually. Not sure of the process especially as I can't even remember exactly how things got the way the did at the time etc.

[dx100uk]

so both ee and 3 billed you for the full contract term

then sold the debts on to a debt buyer.

doesn't mean you owe the full contract term

 

 

as for NatWest

get an sar running if you don't have all the statements