CCA Request

[chris260483]

Re: CCA Request

the loan is all sorted and paid off ages ago

I cant really remember from 2001 so its difficult

The default comes off in 2 years so would u say its better for me to make a f&f offer to get rid of the debt instead of paying in full (i know either wont affect my CR as the default has been done but at least the debt will be gone)

the debt has not been sold on as they are acting on behalf of Lloyds so am unsure what Lloyds will accept, i have sent them a letter offering 4200 out of 14830 or i pay them £2 per month for 7425 months as this is all i can afford. In may i offered them 2970 but this was rejected.

I put on the letter that i make the offer in clear understanding that if they accept the debt will not be sold on etc and they will not take any further action to enforce the debt in anyway and that i am released for any liability, I have also requested they mark any reference on my credit files as satisfied in full.

I will let you know there response

I just want to get shot of the debt and then when it comes off my CR in 2015 i can forget it ever happened

[FlamingParrot]

Re: CCA Request

Yeah there is reference to a credit card and loan because that is what they sent me.

What happened to the loan? Is it all paid off? :confused2:

Well I can never remember being presented with terms and conditions at the time to be honest, I defaulted the credits card in 2009 and was considering offering a f&f offer to get rid of the debt as they are now with credit search on behalf of Lloyds. In 2 years they are removed from my CR so not sure what my best option is.

Can you remember exactly what happened in 2001? There are things I distinctly remember from that time while others are a blur, so it's not impossible. :noidea:

Forget about your credit file because whether you offer a F&F or not won't affect the default recorded on it, as it reflects your conduct with the account.

I thought if it was UE it would give me more leverage when negotiating a %

It could be the case, however, debts are purchased for around 10% of the outstanding balance, which means anything higher than that would mean a profit for the DCA. :wof: If the alternative is to incur the admin costs of processing token payments for years, they may well give your offer serious consideration. I'd start at 20%... :thumb:

Before you make an offer do post up here, you need to make sure they won't sell the balance on to another DCA who will then pursue you for it. :rant:

[chris260483]

Re: CCA Request

Well I can never remember being presented with terms and conditions at the time to be honest, I defaulted the credits card in 2009 and was considering offering a f&f offer to get rid of the debt as they are now with credit search on behalf of Lloyds. In 2 years they are removed from my CR so not sure what my best option is.

I thought if it was UE it would give me more leverage when negotiating a %

[charitynjw]

Re: CCA Request

So why do you think it's UE, Chris?

[chris260483]

Re: CCA Request

Yeah there is reference to a credit card and loan because that is what they sent me.

[FlamingParrot]

Re: CCA Request

But am I correct in thinking they have failed to supply what they needed to under 78?

No, they HAVE satisfied the requirements of s.78. If you applied for the card in 2001, then it looks like those are the terms from inception. The only way you could argue that point is if there were things that don't add up, for example, charges, of if you'd taken the card out in, say, 2000 and they'd supplied later terms which would not have been in place at the time.

I note there is reference to both a credit card AND a loan… :confused2:

[chris260483]

Re: CCA Request

But am I correct in thinking they have failed to supply what they needed to under 78?

[Celestine]

Re: CCA Request

It's only my personal opinion, but I'd say yes it's enforceable. :tinysmile_hmm_t2:

[chris260483]

Re: CCA Request

So it's enforceable ?

[Celestine]

Re: CCA Request

Hi Chris

I'm afraid those T&C's you've been supplied DO read (to me) as if they WERE the terms present when you signed the agreement.

The fact that they have supplied a recon is not a point of dispute unless we could find evidence in the T&C's that they were not the set you read and considered AS you signed the agreement. Quite often the original creditors supply the set that would have been sent out AFTER the card application had been accepted.

I'm sure others will have their opinion, but thats my thoughts.

Good luck

[chris260483]

Re: CCA Request

I've been making token payments up until 2 months ago so SB is 6 years from now!!

Thanks for having a look, I look forward to your response

chris

[FlamingParrot]

Re: CCA Request

the reason im checking the cca is im considering making them a F&F offer on the debt, its been in default since 2009 so comes off my credit file in 2 years. But i dont know how differently it will effect my CR if i pay it in full or pay a F & F. i suppose the damage has already been done with the default so i should just do F & F offer?

Thanks for posting the documents, will come back later to take a closer look. To answer your question above, sadly, it won't make much difference to your credit report whether you settle this or not, the default reflects your conduct with the account, i.e. you did not keep up contractual payments. If the creditor accepts your offer of a F&F then it should be regarded as settled in full (hence the name Full & Final), however, as far as your credit goes, it won't matter much whether you pay the full amount, make a reduced settlement or don't make any payments. The default will stay in place for 6 years. If it was recorded in 2009, you have just 2 more years before it drops off, which it will, regardless of whether you pay or not. Some lenders only search the last 3 years anyway so you may well get lucky with loans or credit cards, :thumb: however, for mortgages they are likely to search the full 6 years.

Do bear in mind that, if you haven't made any payments in years, by making a F&F offer you will be resetting the Statute Barred clock :clock: If it has just 2 years left to run I'd let it run its course if it was me. In fact, that's exactly what I'm doing! :grin:

[chris260483]

Re: CCA Request

the reason im checking the cca is im considering making them a F&F offer on the debt, its been in default since 2009 so comes off my credit file in 2 years. But i dont know how differently it will effect my CR if i pay it in full or pay a F & F. i suppose the damage has already been done with the default so i should just do F & F offer?

[chris260483]

Re: CCA Request

last one

[chris260483]

Re: CCA Request

more docs