Making a full and final offer on old overdraft. How much?

[Craigbadger]

Simple terms:

Lloyds overdraft, defaulted mid 2011 balance around £600.

Had a claim open for bank charges on same account which I was hoping might of cleared the od was of course declined with court ruling.

Had been paying Lloyds £1 a month till 12 months ago when I moved from HSBC to Santander, have not paid since.

Lloyds have now passed debt to Cabot who are telling me they will accept an offer.

I am absolutely in no position to repay at more than £1 a month, self employed, private renter, skint... but could maybe pull a bit together in order to get them off my back.

Now considering the debt is made up i'd say of mostly bank charges at some point between 1996 and 2008 when I banked with them how much would be a reasonable offer?. Otherwise its a pound a month for the next 20 years. I was thinking of going in really low, like 10% which is now about £58.

Any advice would be appreciated. I know the numbers are all pretty small really and not enough for me to lose and sleep over but it would just be nice to get this out the way if possible.

 

Ps have debt collectors gone soft?, the tone of all letters compared to 5 years ago is very gentle.

[dx100uk]

Prob because they know its un-en and all charges

 

Person I'd pay nowt

 

Its not? On your cra file so its not hurting you

[Craigbadger]

Prob because they know its un-en and all charges

 

Person I'd pay nowt

 

Its not? On your cra file so its not hurting you

 

It is on there, default date is 06/05/2011. Makes no difference though as I have one from August 2011 also.

[dx100uk]

I wonder if there is worth totaling the charges now

As by keeping up payments and forcing the dca's hand now

Else you will never be rid of it

[Craigbadger]

I will try and find them. It wont of changed since then I dont think.

 

What will happen regarding the default and the £1 markers?.

 

 

I presume the default will go but the balance will still be visible?

 

Say if at present it says DDDDD and 605 604 603 602 601 etc will it just show the balance

and not say that it was defaulted or if I can settle it will just say setled?.

 

 

I know I got my head around this a few years back, just a bit rusty now.

[renegadeimp]

DOnt you even consider thinking of a F&F to cabot. They only deal in UE debts.

[Craigbadger]

DOnt you even consider thinking of a F&F to cabot. They only deal in UE debts.

Haha and they know me already. Got as far as 2 days from court last year on another account.

[dx100uk]

I will try and find them. It wont of changed since then I dont think.

 

What will happen regarding the default and the £1 markers?.

 

I presume the default will go but the balance will still be visible?

 

Say if at present it says DDDDD and 605 604 603 602 601 etc will it just show the balance

and not say that it was defaulted or if I can settle it will just say settled?.

 

I know I got my head around this a few years back, just a bit rusty now.

 

 

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, paying now 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]

[Craigbadger]

consider a CCA request.}

 

Its an overdraft rather than a credit agreement.

 

Good news re the 6 year thing.