Mother been Paying DCA's through Stepchange £400pcm for +8yrs - still £9k to pay - Best way to make F&F offers?

[techno20]

Hey @dx100uk - what do you think about the above? Is it still worth trying even though it's not strictly true or is better to go with something a bit more moderate (Illness, coupled with a loss of overtime due to the COVID-19 pandemic, has lead to a severe drop in household income. I am 62 this year and coming close to retirement age. )

 

 

[dx100uk]

On 05/07/2021 at 19:18, dx100uk said:

it is very unlikely a return to any financially meaningful employment of any kind will ever happen we are both in our 60's

in otherwords, the current employment, never did and does not, put them in a position whereby improved income will result by changing jobs.

it's the cards they have had for xxx years and will continue to only play with.

 

the fact is that to date, objectively, all they have done for xxx period is just held their head above the water, it is time to take control of the limited income and create a better life overall, rather than servicing debts at a level that is unnecessarily being restrictive. 

[techno20]

Understood. I'll send the following to Link and Cap1 and let's see what the reply is.

 

Dear Sir or Madam

 

Account No/Reference No: XXXXXXXX

 

Further to my recent letter, I am experiencing extreme financial hardship. As such, I'd be extremely grateful if you would consider writing off the outstanding debt owing. I have always taken very seriously my financial responsibilities, but unfortunately my circumstances are so bad that I cannot realistically maintain payments of any kind.

 

Please take the following special information into account when making your decision.

 

Illness, coupled with a loss of overtime due to the COVID-19 pandemic, has lead to a severe drop in household income. I am 62 this year and coming close to retirement age. The illness is not short term and most sadly will not improve as time progresses, it is very unlikely a return to any financially meaningful employment of any kind will ever happen 

 

As you can see, my situation is very unlikely to improve in the future, and my continued high debt level may have a serious effect on my physical and mental wellbeing. I would therefore be grateful if you would seriously consider this request for the debt to be written off.

 

I would appreciate any help you can offer me right now.

 

Yours faithfully,

 

[dx100uk]

both debts have been subject to the DMP thru stepchange for 8yrs..it this statement true?

 

[techno20]

Yes, that is true.

 

Cap1 went from owing just under £10,000 in 2013 to roughly £2,400 today

The Link debt (originally MBNA) went from owing £4,500 and £5,000 in 2013 to roughly £1,100 and £1,200 today.

 

 

Edited July 14, 2021 by techno20

[dx100uk]

offer them each £250 or it's £1PCM till you die.

 

On 13/07/2021 at 08:11, techno20 said:

owing. ****I have

 

as you can see from my last 8yrs of payments through the stepchange system 

[techno20]

Thanks DX. Is that instead of the letter in post #78 asking them to write off the debt or as a follow up letter if they reject it?

 

My plan is to send this either now or after sending the letter in post 78:

 

Dear Sir / Madam,

 

Account number: XXXX

 

I am getting advice on dealing with my financial situation and choosing the right debt solution for me. I am writing about the money which you are claiming on the above account.

 

I have always taken very seriously my financial responsibilities, as you can see from my last 8 years of payments through the StepChange system, but unfortunately my circumstances are so bad that I cannot realistically maintain payments of any kind. Our income has been significantly impacted by illness, coupled with a loss of overtime due to the COVID-19 pandemic. I am 62 this year and coming close to retirement age. The illness is not short term and most sadly will not improve as time progresses, it is very unlikely a return to any financially meaningful employment of any kind will ever happen 

 

However,  I can raise £250 and I want to offer this as full and final settlement of the account. This money has been offered by a family member as a one time offer to help me clear my debts.

 

I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.

 

This offer is valid for 14 working days.

 

Please give me details of how I can pay.

 

I look forward to hearing from you.

 

Yours faithfully

 

 

 

[dx100uk]

that will do.

 

 

[techno20]

Thanks DX. To be clear, do you recommend sending this instead of the letter in post #78 asking them to write off the debt completely?

[dx100uk]

Surely logic dictates it might be better to try and get it written off 1st

[techno20]

Thanks DX. Will send the following to Link & Cap1 today:

 

Dear Sir or Madam

 

Account No/Reference No: XXXXXXXX

 

Further to my recent letter, I am experiencing extreme financial hardship. As such, I'd be extremely grateful if you would consider writing off the outstanding debt owing. I have always taken very seriously my financial responsibilities, as you can see from my last 8 years of payments through the StepChange system, but unfortunately my circumstances are so bad that I cannot realistically maintain payments of any kind.

 

Please take the following special information into account when making your decision.

 

Illness, coupled with a loss of overtime due to the COVID-19 pandemic, has lead to a severe drop in household income. I am 62 this year and coming close to retirement age. The illness is not short term and most sadly will not improve as time progresses, it is very unlikely a return to any financially meaningful employment of any kind will ever happen 

 

As you can see, my situation is very unlikely to improve in the future, and my continued high debt level may have a serious effect on my physical and mental wellbeing. I would therefore be grateful if you would seriously consider this request for the debt to be written off.

 

I would appreciate any help you can offer me right now.

 

Yours faithfully,

[dx100uk]

Yes i think these fleecers have had enough money out of her.

[techno20]

Agreed. Thanks again DX for all your help. You've made a massive difference.

[dx100uk]

hidden i'd remove your name??

 

safe to ignore

[techno20]

2 minutes ago, dx100uk said:

hidden i'd remove your name??

 

safe to ignore

Oops, sorry. Thanks DX.

[techno20]

Link are calling once a week atm despite agreeing to do letter communication only. Is it worth sending a version of this template:

 

 

[dx100uk]

god no never enter into any pointless letter tennis

[techno20]

Noted. Thanks dx.

[techno20]

We've had the attached replies from Link following our letter in post #86 asking for the debt to be written off.

 

What is the best course of action?

 

Link-Letter-#1-July-2021.pdfLink-Letter-#2-July-2021.pdf

[dx100uk]

Use pdfmerge site next time one multipage pdf please

 

safe to ignore link.. None of their business.

 

Dx

[techno20]

Ok great. So no reply to them, just wait and see what comes next?

 

 

[dx100uk]

yep then reply with the pro rata say £5 PCM?

[techno20]

We are currently paying £5 pcm to link and Cap1. My plan, if we have not heard anything in the next 2 weeks, is to send the offer of £250 to pay it all off. What do you think?

 

 

[dx100uk]

Well 2 weeks might be a bit quick...

or just stop and see what they do in a month or 2 link that is...

[techno20]

We've had some wonderful news from Cap1 - they have agreed to write off the debt. See attached. The only slight concern is how it may impact their credit score as they've mentioned marking it as partially settled to credit reference agencies. Will it impact my parent's credit score given it defaulted over 6 years ago? Any further action required?

 

Link have sent another letter, see attached. Is the best strategy still to ignore? We're currently telling them we will only discuss in writing when they ring - should we continue with this strategy or do something different?

 

Thank you again for all your help. You've really helped to make a significant improvement to my parent's financial wellbeing.

 

Link-July-27.pdfCap-1-Write-Off.pdf