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1st credit pre claim form and F&F settlement offer

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  • 1st credit pre claim form and F&F settlement offer

    Hello,

    im new to this site - in brief:

    i owe ovet £5k
    I had a crisis in 2013/14 and lost my job, went on
    benefits ( housing) and took out loans.
    i also took out stacks of payday loans which are almost all sorted and I'm on top of. I've avoided this loan as it was so large and scary. I've been sent a letter pre claim and want to offer a F&F of 20%. I I accept the loan - I have letters of assignment and agreement original so I'm not disputing it really. I've had no contact with 1st credit ( for a year) or lender for over 3 years.
    I know I should have been in contact sooner - feel free to judge - I would like advice on :

    1. Can I still negotiate whilst in pre claim before send pre claim paperwork ( the official tick box forms)

    2. Can company settle my debt in this way - at their discretion - during this 30 day 'pre claim' period?

    3. Pros and cons of doing this

    thanks all!
    Last edited by Sortingit16; 18th December 2017, 09:45:AM.
    Tags: None

  • #2
    Re: 1st credit pre claim form and F&F settlement offer

    I think you can make a settlement offer at anytime however it is tricky. If they have sent you a LBA 20% may not be enough.
    However are you sure it's all legit as only recently a poster thought they were banged to rights but a solicitor was able to sort it.
    [MENTION=87380]Diana M[/MENTION] might have some thoughts

    Comment


    • #3
      Re: 1st credit pre claim form and F&F settlement offer

      Originally posted by warwick65 View Post
      I think you can make a settlement offer at anytime however it is tricky. If they have sent you a LBA 20% may not be enough.
      However are you sure it's all legit as only recently a poster thought they were banged to rights but a solicitor was able to sort it.
      @Diana M might have some thoughts
      Thank you - and yes it is deffo all legit/ it's mine.
      Thats good to hear can negotiate - I have sent an email
      and will see what comes back. Stay tuned and appreciate your comments!

      Comment


      • #4
        Re: 1st credit pre claim form and F&F settlement offer

        Originally posted by warwick65 View Post
        I think you can make a settlement offer at anytime however it is tricky. If they have sent you a LBA 20% may not be enough.
        However are you sure it's all legit as only recently a poster thought they were banged to rights but a solicitor was able to sort it.
        @Diana M might have some thoughts
        Also I'm rather keen to get this sorted ASAP as I have to mid Jan to finalise the papers (pre claim ) - would it be advised to call them to negotiate on the phone, and ask them to put their responses in writing? I've got a family member who is feeling they could help me and want to make sure they really can & do - they travel back abroad after Xmas and who knows the window may close

        Comment


        • #5
          Re: 1st credit pre claim form and F&F settlement offer

          I would send a cca request to them, if they can not produce the documents they can not enforce the debt.

          Comment


          • #6
            Re: 1st credit pre claim form and F&F settlement offer

            I have the agreements etc already - they have been good about that. I'm hoping to have more info tomorrow from them on if they accept my offer - stay tuned!

            Comment


            • #7
              Re: 1st credit pre claim form and F&F settlement offer

              Did you get the agreement by sending a S77 request or did you just ask for it- there is a difference

              Just to show how wrong people can be have a read of this

              http://legalbeagles.info/forums/show...h-of-defendant

              You may also want to read my thread about a Lowell claim form - although the agreement was old it contained all the prescribed terms yet we defeated lowell in court today
              http://legalbeagles.info/forums/show...363#post768363

              Comment


              • #8
                Re: 1st credit pre claim form and F&F settlement offer

                That's interesting - what I mean is I have the original agreement signed by me. Thank you for your support I'll see what happens...

                Comment


                • #9
                  Re: 1st credit pre claim form and F&F settlement offer

                  I do not want you to blindly follow me lead but it might give you options and strengthen your hand if they can not comply with a S77 request

                  Comment


                  • #10
                    Re: 1st credit pre claim form and F&F settlement offer

                    Originally posted by Sortingit16 View Post
                    i also took out stacks of payday loans which are almost all sorted and I'm on top of.
                    By "sorted" do you mean repaid? Or do you mean you have made affordability complaints against the lenders and got a refund of any interest you paid? If you haven't come across payday loan affordability complaints before, read https://debtcamel.co.uk/payday-loan-refunds/ and think about putting in complaints to all the lenders you used more than once. this is seperate from this particular debt you are worried about now but it could get you useful money back!

                    You haven't said who this large, scary loan was from. Was it after you already had a lot of payday loans? Did you already have defaults etc on your credit record when you applied? If you think the lender should not have given you the loan as they should have realised you couldn't afford it, then you can put in an affordability complaint to the original lender (not 1st credit) about this loan too. People have won these sort of complaints against firms such as 118 Money.

                    If you decide to do this, you need to do it asap and inform 1st Credit that you are disputing the debt with the original lender.

                    1. Can I still negotiate whilst in pre claim before send pre claim paperwork ( the official tick box forms)
                    yes. You have 30 days to send back the tick box form, during this time you can contact them and offer 20% if you want.

                    2. Can company settle my debt in this way - at their discretion - during this 30 day 'pre claim' period?
                    yes if they want. You may need to supply an Income & Expenditure sheet to show you can't make realistic monthly payments to get them to accept 20%..

                    Comment


                    • #11
                      Re: 1st credit pre claim form and F&F settlement offer

                      Originally posted by Debt Camel View Post
                      By "sorted" do you mean repaid? Or do you mean you have made affordability complaints against the lenders and got a refund of any interest you paid? If you haven't come across payday loan affordability complaints before, read https://debtcamel.co.uk/payday-loan-refunds/ and think about putting in complaints to all the lenders you used more than once. this is seperate from this particular debt you are worried about now but it could get you useful money back!

                      You haven't said who this large, scary loan was from. Was it after you already had a lot of payday loans? Did you already have defaults etc on your credit record when you applied? If you think the lender should not have given you the loan as they should have realised you couldn't afford it, then you can put in an affordability complaint to the original lender (not 1st credit) about this loan too. People have won these sort of complaints against firms such as 118 Money.

                      If you decide to do this, you need to do it asap and inform 1st Credit that you are disputing the debt with the original lender.



                      yes. You have 30 days to send back the tick box form, during this time you can contact them and offer 20% if you want.


                      yes if they want. You may need to supply an Income & Expenditure sheet to show you can't make realistic monthly payments to get them to accept 20%..

                      Thank you debt camel your sure has been a god send ! I started via your templates negotiations with many pay days and had sums owed reduced. Pduk / express being handled by Prac : bw legal have spent over 4 months not getting bank to me - I got an apology but nothing abd seen they are not lending now. My account with them is on hold. I think it's outrageous they can take so long. Im very chuffed you responded to my post. I'm hoping to be debt free by early next year. With 3 settled defaults and a settled ccj ( which was settled in 2016) and all of these being over 3 years old will my credit score improve?

                      Comment


                      • #12
                        Re: 1st credit pre claim form and F&F settlement offer

                        Actually settling defaults and a CCJ doesn't actually improve your credit score - but it may make lenders more willing to give you more credit.

                        Comment


                        • #13
                          Hello All, I just wanted to post back (this is me SortingIt16 still I cant get my other password! I have settled the account, I paid back 50% of the debt in the end and it never went to court at all. I really was very worried at the start of the year but I did it! Thanks so much to all of you who replied with advice. It helped to be able to just talk through what was happening. This is the biggest debt I ever had in my life so the fact it is now completed is such a massive relief. Cheers All!

                          Comment

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