Hoist Finance/Howard Cohen

[Diamond1405]

Hi All,

ive just come home to a letter from hoist offering me a settlement fee out of court for less than the claim. I’m guessing this is a good sign?

[Celestine]

That would depend on the settlement amount. It would be usual for them to offer discounts to get the case closed, it doesn’t necessarily mean they are concerned about the strength of their claim. 2015 is a fairly newish account and it would be odd for the documents to be missing. Is there any chance this is identity theft? What does your credit file say?

[Diamond1405]

Hi Celestine, sorry for the late reply. To be honest, it is likely my account, i just think they put the wrong address on the documents. What should I do from this point? I still haven’t had a court date. Im just getting myself into a better financial position at the moment and having to pay them a huge chunk of money each month will leave me back where I started

[Celestine]

You can only escape these accounts if there are flaws in CCA or it has become time barred with no court claim issued, (which stops the clock)
It is still worth a thorough look at your credit file to be sure. Common names can get mixed up and the debt companies ‘search teams’ do make mistakes.
If they are not mistaken and you are satisfied that any errors are trivial, then ultimately a settlement would be your best bet to finally resolve this chapter of your financial life.

[Diamond1405]

Hi Celestine,

thank you, I will do that. Obviously don’t want a CCJ so would rather negotiate at this point if it is my account. Will I have to pay a lot of money?

[Diamond1405]

Celestine Hi Celestine, ive recurved the DSAR back from Lloyds and unfortunately it looks as if everything checks out with the credit agreement. What is my best plan of action now please? The letter hoist sent me with the smaller settlement fee, the date I could accept has since passed. Very worried and stressed and not sure what to do now. I’ve still not received a court date but I will now likely lose

[MIKE770]

CCAs have to contain all the correct features?? when did you take it out and where?

small settlement fee sent can you please be more specific as vague answers can be wrongly given? and in a lot of cases they try to see if you panic and pay something you do not have to???

[Diamond1405]

MIKE770 Hi Mike, thanks for coming back so quick. It was a loan that I took out online in feb 2015, as a top up to another Lon I originally had with Lloyds. They offered (to the nearest 100) a £4500 settlement, original claim to the nearest 100 is 7000. Trying not to panic but it’s obviously a lot of money

[MIKE770]

are you able to negotiate or come to an agreement with them> ? i.e:- do you have the monies to negotiate a counter offer??

[Diamond1405]

MIKE770 Not in a lump sum unfortunately, monthly I could do something but I don’t want to cripple myself. The deadline they gave me to accept their first reduced offer has now passed. I also don’t want to do anything over the phone, can it be done over email? I’d like to make sure I have everything in writing. I still don’t have any court date either so am I better to hold out a little longer or just deal with it head on now?

[MIKE770]

see what Celestine if agrees a "Tomlin Order" would be better (as long as payments agreed made no court CCJ) negotiate with the solicitors once Celestine has commented on here! gives a peace of mind!

[Diamond1405]

MIKE770 thank you that’s great I will see what Celestine says

[Celestine]

4500 settlement mid way through a court claim is not bad if I'm honest. Is that a lump sum payment though?
The settlement must be affordable, there is no point agreeing to £200 per month if you cannot afford it. A Tomlin order will be how the settlement is arranged if you do agree one with them.

[Diamond1405]

Celestine Thanks Celestine, do you think I should open negotiations via email ASAP in that case?

[Celestine]

Hi Michael - Yes probably less stressful than telephoning. Although their call handlers are meant to be highly trained and professional, they will still push for a deal that suits them. The reason they are trying for settlements is due to the pandemic causing huge delays till final hearings. All the debt companies have been trying to wrap up claims quickly.