Bryan Carter - Letter of Claim

[clearway]

Re: Bryan Carter - Letter of Claim

Last of the original agreement and the first couple of pages of the defaulted agreement.

[clearway]

Re: Bryan Carter - Letter of Claim

And finally a letter from Lowell I found stapled to the back of the default agreement and a couple of pages from the statement (the first page and the page showing what I think is the last payment made from the IVA handler). I hope this is ok?

I don't know what to do from here, I thought about contacting my local CAB but you can never speak to anyone and i'm no good when it comes to speaking to people over the phone.

[FlamingParrot]

Re: Bryan Carter - Letter of Claim

I very much doubt the CAB would be much help in this case, they'll probably just tell you to set up a repayment plan. Challenging agreements is not one of their strengths.

Were those terms sent to you with the card? That letter from CapOne with the £800 credit limit suggests that may have been the case.

There can be no such thing as your 'agreement at the date of default' as in something different from your original agreement, there would have been just the one agreement. They may be referring to varied terms at the time of default. Are the first set of terms meant to be a recon of the original terms? I just can't see how (or where) they would have been present at the time you signed the application form.

The letter from Lowell would be the notice of assignment.

[nemesis45]

Re: Bryan Carter - Letter of Claim

If this is a recon agreement it does not appear to be complete looking at an old Capone card agreement there is a lot more including a booklet issued with the card containing the T's & C's applicable at that time.
There will also be the terms & conditions in full relevant at default/closure of the account + and material amendments.

Not all CAB's are the same some have solicitors who can advise on more complex matters, so worth a try at your nearest CAB if you feel it may help you.

[MIKE770]

Re: Bryan Carter - Letter of Claim

And finally a letter from Lowell I found stapled to the back of the default agreement and a couple of pages from the statement (the first page and the page showing what I think is the last payment made from the IVA handler). I hope this is ok?

I don't know what to do from here, I thought about contacting my local CAB but you can never speak to anyone and i'm no good when it comes to speaking to people over the phone.

Payment on 12/04/2013? £31.94? Terms & Condition in last one so called up to date ? £12.00 charges:- note:- Terms & Conditions present at inception? or like all the others with a card carrier at a later date? just observations?

[clearway]

Re: Bryan Carter - Letter of Claim

I very much doubt the CAB would be much help in this case, they'll probably just tell you to set up a repayment plan. Challenging agreements is not one of their strengths.

Were those terms sent to you with the card? That letter from CapOne with the £800 credit limit suggests that may have been the case.

As far as I can make out from the statements the original credit limit was £200 and must have been increased to £800 at some point.

There can be no such thing as your 'agreement at the date of default' as in something different from your original agreement, there would have been just the one agreement. They may be referring to varied terms at the time of default. Are the first set of terms meant to be a recon of the original terms? I just can't see how (or where) they would have been present at the time you signed the application form.

The letter from Lowell would be the notice of assignment.

The first set of terms were stapled to the page labelled original agreement but the £800 CapOne letter and second credit agreement were stapled to the default agreement page.

[clearway]

Re: Bryan Carter - Letter of Claim

If this is a recon agreement it does not appear to be complete looking at an old Capone card agreement there is a lot more including a booklet issued with the card containing the T's & C's applicable at that time.
There will also be the terms & conditions in full relevant at default/closure of the account + and material amendments.

Not all CAB's are the same some have solicitors who can advise on more complex matters, so worth a try at your nearest CAB if you feel it may help you.

I honestly dont know what will help at the moment, I'm going to try and find some local advice if possible.

Before my IVA began I sat down with a debt advisor and the IVA handler who both discussed possible bankruptcy due to my income and outgoings but I would have lost my job if I had done so at the time. It wasn't a route I really wanted to consider as I didnt wish to lose my job, potentially my home/family and there was also the issue of raising the money to apply not to mention the personal issues etc.

I'm starting to worry now even if I do manage to sort BC I have no idea what/if anything else will crop up

- - - Updated - - -

Payment on 12/04/2013? £31.94? Terms & Condition in last one so called up to date ? £12.00 charges:- note:- Terms & Conditions present at inception? or like all the others with a card carrier at a later date? just observations?

I'm sorry but i'm not sure I understand? The payment received can only have been made by the IVA company as I know I didnt make it.

[nemesis45]

Re: Bryan Carter - Letter of Claim

I honestly dont know what will help at the moment, I'm going to try and find some local advice if possible.

Before my IVA began I sat down with a debt advisor and the IVA handler who both discussed possible bankruptcy due to my income and outgoings but I would have lost my job if I had done so at the time. It wasn't a route I really wanted to consider as I didnt wish to lose my job, potentially my home/family and there was also the issue of raising the money to apply not to mention the personal issues etc.

I'm starting to worry now even if I do manage to sort BC I have no idea what/if anything else will crop up

The IVA payment will be considered an authorised payment made on your behalf.
Any loans taken out during the IVA really don't have any prospect of being paid what
your handler will make of this I cannot speculate.

nem

[clearway]

Re: Bryan Carter - Letter of Claim

[QUOTE=nemesis45;552468]

I honestly dont know what will help at the moment, I'm going to try and find some local advice if possible.

Before my IVA began I sat down with a debt advisor and the IVA handler who both discussed possible bankruptcy due to my income and outgoings but I would have lost my job if I had done so at the time. It wasn't a route I really wanted to consider as I didnt wish to lose my job, potentially my home/family and there was also the issue of raising the money to apply not to mention the personal issues etc.

I'm starting to worry now even if I do manage to sort BC I have no idea what/if anything else will crop up


The IVA payment will be considered an authorised payment made on your behalf.
Any loans taken out during the IVA really don't have any prospect of being paid what
your handler will make of this I cannot speculate.

nem


- - - Updated - - -

No loans were taken out during the IVA or even after it stopped.

Thanks

[FlamingParrot]

Re: Bryan Carter - Letter of Claim

I honestly dont know what will help at the moment, I'm going to try and find some local advice if possible.
Before my IVA began I sat down with a debt advisor and the IVA handler who both discussed possible bankruptcy due to my income and outgoings but I would have lost my job if I had done so at the time. It wasn't a route I really wanted to consider as I didnt wish to lose my job, potentially my home/family and there was also the issue of raising the money to apply not to mention the personal issues etc.

I'm starting to worry now even if I do manage to sort BC I have no idea what/if anything else will crop up

No point worrying about that now, if it does do post up.

As far as I can make out from the statements the original credit limit was £200 and must have been increased to £800 at some point.

The first set of terms were stapled to the page labelled original agreement but the £800 CapOne letter and second credit agreement were stapled to the default agreement page.

It is possible that they were sent with the card carried which is what I was trying to get at, increasing the credit limit would have been standard, most credit card companies did it without asking.

You may want to look at this post with regards to the terms: http://www.legalbeagles.info/forums/...209#post552209

[nemesis45]

Re: Bryan Carter - Letter of Claim

[QUOTE=clearway;552473]

No loans were taken out during the IVA or even after it stopped.

Thanks

That's good!!

[clearway]

Re: Bryan Carter - Letter of Claim

Thanks for the replies, I'm getting a but confused but trying to work through. What would be my best course of action? Is it possible to make a reduced offer and is there any likelihood they would accept?

I think writing to them would be the best form of contact but how would i make them an offer and what sort of terms do I add?

[FlamingParrot]

Re: Bryan Carter - Letter of Claim

Thanks for the replies, I'm getting a but confused but trying to work through. What would be my best course of action? Is it possible to make a reduced offer and is there any likelihood they would accept?

I think writing to them would be the best form of contact but how would i make them an offer and what sort of terms do I add?

Definitely, you need to put everything in writing and get their acceptance also in writing before making any payments. You may want to start low, if they don't accept you can increase the offer but it doesn't work the other way round.

You may want to look at this thread: http://www.legalbeagles.info/forums/...stions-success

[clearway]

Re: Bryan Carter - Letter of Claim

Definitely, you need to put everything in writing and get their acceptance also in writing before making any payments. You may want to start low, if they don't accept you can increase the offer but it doesn't work the other way round.

You may want to look at this thread: http://www.legalbeagles.info/forums/...stions-success

Thanks for the link, quoting one of your posts from that thread is this the sort of letter I should be using?



Dear Sirs
Ref: xxxxxxxx
I write regarding the outstanding balance on the above account and wish to make an offer to resolve that will suitably please both parties.

I can confirm that I am unable to offer to pay the money which I owe in full, however I am able to raise £XXX and wish to offer this as an ex-gratia payment in full and final settlement of the account. These funds will only be available to me for a period of xxx days / until xx/xx/2014. The offer is made on the understanding that, if accepted, neither you nor any other company will take any further action to pursue or enforce this debt in any way whatsoever and that I will be released from any liability with no reference or future ability to quote or use Penny v Cole [Pinnel 1602] in trying to recoup any written off balance. I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full.

Payment can be made within xx days of receiving your written agreement of this offer. Please write back and confirm if you're interested in my offer then I'll come back to you.

I look forward to your response.
Yours faithfully,


I will write a draft letter up later to send recorded in the morning but I have a couple more questions if you dont mind?

What would be a reasonable time scale to ask for a reply. 14 days/28 days or longer?

Also what would be considered a reasonable offer? i'm hoping to borrow as little as possible from family members but at the same time wouldn't want to offend so they just flat out refuse the offer and request the full amount as I certainly wouldnt be able to raise that amount.

[FlamingParrot]

Re: Bryan Carter - Letter of Claim

28 days should be reasonable.

Debt purchasers buy debts for around 10% of their book value or even less, then try to get the full amount out of debtors, that's how they make their profits. That also means you can make a low offer to start with. They are in this business and will be used to it so no need to worry about causing offence. It is a negotiation process where you would like to pay £0.00 and they would like the full amount, the settlement has to fall somewhere in between. I'd say you can try 25%-30%. A lot of debts are settled at those levels (I had one myself) and, when you consider the cost of litigation and the time it takes to go through the process against the amount outstanding, it would make as much sense for them to settle as it would for you. You have also been in an IVA, where no debts get settled in full, you'd have paid pro-rata for a set number of years and the rest gets written off.

You should make sure you have written agreement before any payment is made and ideally you should pay via a third party cheque or transfer from a third party account, this is intended to avoid them chasing you for the balance at a later date or selling it on to another debt purchaser who will chase you for it. That also happened to me, albeit with a small amount.