CCA Request

[FlamingParrot]

Re: CCA Request

so just to clarify, my best course of action is pay £2.00 per month until the debt (hopefully) is sold on to a DCA and then negotiate with them.

Keep any monies i have in my bank and earn interest on this.

in theory i could raise the funds to pay the whole amount due but they have already defaulted me so if i pay £15500 or an agreed lower amount it wont make a bit of difference to my CRF and will come off 6 years after the default (2015).

You are correct on all the above! :thumb:

...only I hope the £15,500 is a typo and you mean £1,550! ray:

[chris260483]

Re: CCA Request

so just to clarify, my best course of action is pay £2.00 per month until the debt (hopefully) is sold on to a DCA and then negotiate with them.

Keep any monies i have in my bank and earn interest on this.

in theory i could raise the funds to pay the whole amount due but they have already defaulted me so if i pay £15500 or an agreed lower amount it wont make a bit of difference to my CRF and will come off 6 years after the default (2015).

[chris260483]

Re: CCA Request

i have just received a I&E from credit security (collection people for lloyds), ill fill it in and show them im in minus each month

[charitynjw]

Re: CCA Request

what is a CFS compliant I&E?

Chronic Fatigue Syndrome.

& you've misspelt 'complaint', btw!



(Jokin', Ms Parrot! :behindsofa

[FlamingParrot]

Re: CCA Request

what is a CFS compliant I&E?

I will answer this question fully purely for reference, looking at your posts above, I don't think you need to worry about this. :thumb:

CFS stands for Common Financial Statement, intended for use by advisory services, debt charities and the CAB rather than the general public. See this for reference: http://www.moneyadvicetrust.org/section.asp?sid=14

The Common Financial Statement (CFS) is a budgeting tool that can be used by advice agencies and other third party organisations to make debt repayment offers to creditors on behalf of clients. It provides a detailed budgeting format to provide an accurate overview of a person's income, expenditure, assets and liabilities.

A CFS compliant I&E means an Income & Expenditure (I&E) form that meets the requirements of the Common Financial Statement (CFS) mentioned above. The CFS is based on Trigger Figures which represent allowances for household expenditure: http://www.cfs.moneyadvicetrust.org/faqs.asp?page_id=37

The trigger figures represent pre-agreed levels for certain areas of discretionary household expenditure. The trigger figures help identify levels of monthly expenditure deemed reasonable when completing the CFS. You will not need to explain the financial statement to creditors unless the trigger figures are exceeded.

These figures are not available to the general public so you'd need to go through a licensed charity or organisation to use them, however, there is an online budgeting tool here: http://mymoney.nedcab.org.uk/moneyad...ickfsintro.asp

[FlamingParrot]

Re: CCA Request

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

That sounds like a plan! :high5:

i have sent them an I&E which shows them i am in - £20 per month already which will now be -£22 with their £2 per month.

In which case, you can safely ignore our little discussion.

they havnt sold my debt on and it was defaulted in 2009

That's what I meant by saying creditors behave unpredictably, mine were defaulted Jan 2010 and not sold either. :ohwell:

[chris260483]

Re: CCA Request

they havnt sold my debt on and it was defaulted in 2009

[chris260483]

Re: CCA Request

what is a CFS compliant I&E?

[chris260483]

Re: CCA Request

i have sent them an I&E which shows them i am in - £20 per month already which will now be -£22 with their £2 per month.

[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

[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:

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 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.

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

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.