DCA and Default help

[1461chris]

OK im currently trying to get a mortgage and my broker advised me to do a credit check which i did and found two defaults on my file

One from Lowell for an original Balnce of £159 opened 7.07 and now at £539 lifetime change of £380 unsettled due to drop off file 7.13 (11 Months time)

the second again from lowell for orignal balance £209 opened 7.10 current balance £209 and a life time change of £0 unsettled due to drop off file 7.16 (3 years 11 months time)

both for mobile phones

Since then i have sorted out my finances and have saved a 20% downpayment for a property im interested in

Im aware if i wait til next year the first default will be gone
If i make an offer lowell to pay both debts in full on the basis they remove the defaults how likely are they to agree?

as i do not want to contact them for payment if they are unwilling to do this

also how much of a difference between a settled default and unsettled default is there on credit score
is it worth me settleing the debts or just wait the 6 years?

thanks for any info
Chris

[1461chris]

Re: DCA and Default help

Bump

[d.stenson]

Re: DCA and Default help

Sent this letter to them, and then post their reply?

Your address
Post town
Post Code

Date

Their Address
Post Town
Post Code

Without prejudice

Account No/Reference No: XXXXXXXX


I write with reference to previous communication regarding an outstanding balance on the above mentioned account and wish to make an offer to resolve that will suitably please both parties.
I do have an outstanding balance on the account, as you are fully aware this is made up primarily of charges. However, a default to you and no payment will not achieve much and so I therefore write to try and resolve matters amicably, that will suit both of us long term. I propose to offer a full and final payment to settle and close this account to the value of XX% of the original amount, which will take into account and absorb, a lot of the charges that have been added to the account throughout time. The alternative is for me to place the account formally into dispute and demand s.10 CCA (1974) is brought into play (cease & desist) whilst I reclaim all unlawful charges combined with all costs. I shall then look at the legality of the assignment of debt; the issuance of a default notice and the agreement (prescribed terms) and between them, I'll probably be able to counter sue and litigate over unenforceability.

To summarise, I am more than happy to settle as much as (Change this to what you want)>>>>>>>>>>>>> 50% of the total amount owing so long as you can agree to, and ensure that, the following actions will be carried out;

• The Default Notice will be removed
• The Status of the account will change from “Defaulted” to “Settled”
• The Current Balance will appear as £0.00
• The Default / Delinquent Balance will be set to £0.00
• There will be no date in the “Defaulted Date” field (as it will be removed)
• There will be no date in the “Date Last Delinquent” field on the report
• This will apply to all 3 Credit Reference Agencies, namely Experian, Equifax & Call Credit

If you're happy with my proposal, please respond confirming each of the above points on official letter headed paper, confirming the exact amount owing and I will send a cheque by return. Failure to agree will result in more formal papers being sent, by return.
I look forward to your response.

Please Note: I wish to deal with this matter in writing via email or post and I do not give your organization permission to contact me by telephone. Should you do so, I must warn you that the calls could constitute ‘harassment' and I may take action under Section 1 of the Protection from Harassment Act 1997. I may also take further action under the Administration of Justice Act 1970 S.40, which makes it a Criminal Offense for a creditor or a creditor's agent to make demands (for money), which are aimed at causing 'alarm, distress or humiliation', because of their frequency or manner.


Yours faithfully,

Sign but slightly different to normal signature

Print name

All ways keep a copy of letters you send and send recorded delivery and keep receipt and copy of letter together for evidence, Just in case they agree and do not remove it you have evidence of your request and their reply. Also if they do agree send a copy of their agreement to remove it to all 3 CRA as well just to be safe.