CCA Request

[chris260483]

Re: CCA Request

yeah interest has been frozen since 2009 when it was put in default. Do you not think that they would have sold the debt on already considering it has been in default for 4 years, im only making token payments of £2 per month and will not pay anymore.

[chris260483]

Re: CCA Request

also why would they sell the debt for 10% (1500) when i am already offering them £4200.00.

The they stupid enough to do that?

[chris260483]

Re: CCA Request

also could i set up my own company and buy the debt off them at 10%?? haha, good idea if could happen

[FlamingParrot]

Re: CCA Request

yeah interest has been frozen since 2009 when it was put in default. Do you not think that they would have sold the debt on already considering it has been in default for 4 years, im only making token payments of £2 per month and will not pay anymore.

The sale of debts is rather unpredictable, :noidea: none of mine appear to have been sold (not heard from anyone in over a year) yet most similar debts by other people HAVE been sold. :ohwell: Also a small debt I didn't even remember got sold very quickly (a year after default) but I haven't received a Notice of Assignment for any of the other 3 despite defaulting over 3 and a half years ago (I hope I'm not speaking too soon! ray

I haven't made any payments into any of them. :grin:

[FlamingParrot]

Re: CCA Request

also why would they sell the debt for 10% (1500) when i am already offering them £4200.00.

The they stupid enough to do that?

I'm afraid they could well be, such is the nature of the financial $ector.

[chris260483]

Re: CCA Request

so do u think i should pay £2 per month or should i stop paying? do u think they will take me to court etc if i stop paying?

[FlamingParrot]

Re: CCA Request

so do u think i should pay £2 per month or should i stop paying? do u think they will take me to court etc if i stop paying?

Without my crystal ball, I'm afraid I can't give you a definitive answer, all I can give you is a few facts so you can make an informed decision:

First of all, informal payment arrangements are not legally binding, meaning they *could* still take you to court even if you keep paying them, :rant: I know of a few cases where it's happened, notably this one, where the defendant was paying just over £5/month yet she was taken to court: http://paulatwatsonssolicitors.wordp...nder-v-mayhew/

• The Defendant ran into financial difficulties and in July 2009 she failed to make the minimum payment due on the card. She informed the Claimant of her problems in February 2010 and it was agreed that she would make payments of £5.44 a month from March 2010.
• On 12^th October 2010 the Claimant served a default notice with a final demand being sent on 11^th November 2010. These proceedings were issued on 20^th December 2010.

Now then, Di Mayhew received a Default notice and she ignored it, why? well she received the Default and then a couple of days later she received a letter saying “please ignore the previous correspondence and maintain your payment arrangement” so she did, she just carried on paying. She did not stop paying and tell Santander to get lost, she did not ever intend to avoid paying this debt, what she got was sued by er Santander and put in such a position where she needed to seek legal assistance.

They are probably less likely to take you to court if you stick to your current arrangement, which, at just £2/month, is not placing much of a financial burden on you (I'm just guessing here since the arrangement has been in place for a while). The downside is that, as long as you're making payments, the debt will never go Statute Barred. :decision:

From what Cel said, it looks like the account could be enforceable in court. As she remarked, you can never tell 100% until a judge actually rules on it. The case I quote above, where they proceeded to court despite the defendant sticking to her agreed repayments, had the advantage of being a storecard turned credit card without a new agreement being provided, which made it unenforceable and the defendant won in court. :high5:

There is always the possibility of the account being sold and the DCA accepting a low F&F. :thumb:

No. I'm afraid not. The documents they sent you pertaining to the 2001 credit card probably do comply. (Compliance is not an exact B&W science and can only ever be fully resolved in a court of law. However, when negotiating, its always nice to have something 'big and shiny' in terms of non compliance to sabre rattle with. You do not have this :tinysmile_cry_t

[chris260483]

Re: CCA Request

does anyone have any previous with lloyds and F&F offers? they have said they have rejected my offer because i am employed and they think in the future i can offer more

[labman]

Re: CCA Request

Was it supported with a CFS compliant I&E form showing that £2.00 pcm is genuinely all you can afford? Unless the figures are placed under their noses, it might explain why the offer was rejected.

[FlamingParrot]

Re: CCA Request

Was it supported with a CFS compliant I&E form showing that £2.00 pcm is genuinely all you can afford? Unless the figures are placed under their noses, it might explain why the offer was rejected.

The offer that was rejected was the F&F not the £2/month which the OP has been paying.

[labman]

Re: CCA Request

The offer that was rejected was the F&F not the £2/month which the OP has been paying.

I know - it's impossible to offer a F&F of £2 per month!

What I was saying was that if the OP proved to Lloyds they were highly unlikely ever to get more than this as it is all he can afford, then the offer would be more likely to succeed.

[FlamingParrot]

Re: CCA Request

I know - it's impossible to offer a F&F of £2 per month!

What I was saying was that if the OP proved to Lloyds they were highly unlikely ever to get more than this as it is all he can afford, then the offer would be more likely to succeed.

This is not an assertion that can be easily made, even with an I&E, it can only refer to present circumstances, which can change at any time. There is no reason why the OP couldn't make another F&F offer in the future, and carry on paying the £2/month in the meantime. Maybe they will sell the debt to a DCA for 10% of the balance as its customary, and then they will be more open to offers. Just my two cents.

[labman]

Re: CCA Request

This is not an assertion that can be easily made, even with an I&E, it can only refer to present circumstances, which can change at any time. There is no reason why the OP couldn't make another F&F offer in the future, and carry on paying the £2/month in the meantime. Maybe they will sell the debt to a DCA for 10% of the balance as its customary, and then they will be more open to offers. Just my two cents.

You're misunderstanding me wonderfully tonight Madame le Perroquet! :beagle:

Again what I meant was prove to Lloyds that they were unlikely ever to get more than this as in £2 per month, not more than the F&F - the F&F can be lowered, resubmitted or raised at any time.

To try to be clearer, if Lloyds see from a CFS compliant I&E form the OP is unlikely, even in the long term, to be able to pay them anything more than £2 per month, then the F&F would be more likely to succeed.

:beagle: :tinysmile_grin_t: :beagle:

[FlamingParrot]

Re: CCA Request

I do understand what we are trying to achieve here, it's just that there are different opinions and ideas which can be put in front of the OP to enable them to make their own mind, as per post 52. :decision:

From what I can see on this thread, the creditor seems happy with the £2/month payments and it's the OP who wants to be rid of this debt by making a F&F offer. When you consider it's merely £24/year, if it was me, I wouldn't mind keeping this up another year, then maybe trying again. :thumb: I am aware that it's human nature to want to obtain closure and get things over and done with but, in this case, I can't see what the big rush is. In other words, if it ain't broke…

My concern here is that, if the OP starts submitting CFS/I&E statements, the creditor will want to "review" the situation in a few months time and start asking for payment increases unless the OP can PROVE that their circumstances haven't changed, which they may well have done by then. :sad: Creditor behaviour can be rather unpredictable: sometimes debts are sold shortly after default whilst others don't get sold in years. :ohwell: A small debt of mine got sold only a year after default but I have yet to see a NoA for any of the others, over 31/2 years after defaulting. :noidea:

There are cases where circumstances are not likely to change, for example, when someone is unable to earn a living due to chronic illness or disability, in which case the current state of affairs is likely to remain unchanged. There are other cases where circumstances may change at any time, for example, when they were ill and have now fully recovered or if they are unemployed and find work, in which case it may be best not to open a can of worms. :thumb:

Again, just my opinion. :grin:

[chris260483]

Re: CCA Request

ok ill continue to pay £2 per month until i am contacted from them or hopefully the debt is sold on