CCA Request

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.

[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

[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

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

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.

[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:

[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

[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

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.

[FlamingParrot]

Re: CCA Request

and its a cc in default so i think by law once it goes into default they cant charge interest?

Not quite, you'll find they often do keep adding interest, the loan in the case above was also in default and on a reduced payment arrangement. In your case, it sounds like they have frozen interest, haven't they? As it will take you several lifetimes to repay the debt at that rate, it'll very likely end up being sold to a DCA, who will have paid just 10% or so of the outstanding balance, making them more likely to accept a low offer. Keep written records of the attempts you've made to settle this, they may come in handy. :typing:

As you are paying just a token amount anyway, try not to worry about their rejection, there is no law that says you can't try again at a future date. :thumb:

[chris260483]

Re: CCA Request

i really want to get this cleared but cant go above what i have offered, any ideas or anyone with experience with lloyds?

[chris260483]

Re: CCA Request

and its a cc in default so i think by law once it goes into default they cant charge interest?

[chris260483]

Re: CCA Request

all of my offers etc are in writing, ive just responded to them saying how disappointed i am they have rejected the offer as this was the most sensible offer i could do, told them the funds will no longer be avialiable to me as the loan from my parents was only on offer if all of my creditors accepted F&F to get me debt free and asked them to send me bank details so i can set up a payment of £2.00 from 01/09/2013 - 01/04/2631 of which i stated in my offer letter.

i just dont understand them to be honest :s

[FlamingParrot]

Re: CCA Request

Call from Lloyds, they reject my offer so im going to set up paying them back £2.00 per month for the next 618 years! Is that not crazy of them?

I would suggest not dealing with these matters over the phone at all! Everything should be kept in writing, especially if you are negotiating offers.

The most extreme example I know of why you shouldn't deal over the phone was someone who entered into a repayment plan for a loan in 2000, where the creditor promised to freeze interest over the phone hone:. 12 years later, the debtor was presented with a balance of £24k :scared: :scared: :scared: because they'd been adding interest all these years! :rant: :rant: :rant:

[chris260483]

Re: CCA Request

they didnt even offer a counter offer