Compass debt company

[Amethyst]

Re: Compass debt company

I know this sounds really nosey, but would you be able to send me copies (admin@legalbeagles.info ) - I'm more than happy for you to redact your personal info off first - I'd just like to have a look at the calculations and how these IE sheets were worded. Is any account taken of the 'savings pot' at all in the IE?

[Amethyst]

Re: Compass debt company

Sending out my CCA letters today, wish me luck. Also I have decided to ask a family member to help me out instead of going on another DM scheme, would rather pay them back then start from scratch as my credit rating was starting to improve - what do u think my chances are in offering some sort of settlement with my creditors as FFS? - By the end of this I will £10,000 out of pocket because of Compass - the £5,000+ they have stolen from me & now the money I have to find again to pay off my debts.

Just want this to be over, I haven't slept in weeks because of all this worry.

You don't know until you ask, many of them will do F&F's with you - I did a 50% F&F less than a year after default recently ... just as I wanted it out of my hair - if you give us an idea who the creditors are and the size of the debts, and how long they have been being paid via the DMP with compass we might have a better idea of a strategy xx Your credit rating shouldn't be affected unless you have debts which weren't ever defaulted due to the DMP as they would fall off 6 years after default anyway - the problem is if you end up with any court judgments against you - then those go on your file for another 6 years - so the aim is to avoid that happening.

[Amethyst]

Re: Compass debt company

Hi Celestine - brilliant work and so appreciated. I'm 'with' Robinson Way, Link Financial, Sigma Red, Capital One (Original CC), and Halifax (original CC). plus some overdrafts and CCs with Lloyds but they are going along nicely with my DMP as are Capital One (I think? - they responded by pretending to misunderstand my monthly offer of £10 for £30 - I'm only able to pay £10 at present).

I like the idea from 1st Credit of paying off FFS by monthly payments. That is only going to work with self-managed plans in my view as payments made to creditors when you are with charity/free DMCs have to be proportional and so unless all of your creditors are paid proportionally, you might not be allowed to make larger FFS payments, even monthly; another reason for doing your own DMP if you can.
Wingco

Those ones still with original creditors (halifax and cap one) - have the accounts actually been defaulted or stuck on AP on your credit file for the last few years while you were with Compass ?

I know you've done all the CCA requests - did you also ask for full statements of the accounts as well ?

[Wingco]

Re: Compass debt company

Sending out my CCA letters today, wish me luck. Also I have decided to ask a family member to help me out instead of going on another DM scheme, would rather pay them back then start from scratch as my credit rating was starting to improve - what do u think my chances are in offering some sort of settlement with my creditors as FFS? - By the end of this I will £10,000 out of pocket because of Compass - the £5,000+ they have stolen from me & now the money I have to find again to pay off my debts.

Just want this to be over, I haven't slept in weeks because of all this worry.

Hi Sal

Thanks to the work done by Celestine in writing to all of the Debt Collection Agencies (DCAs) CEOs, we should all be able to offer Full & Final Settlements (FFS) in a few weeks' time if able to pay them - I can't - but at least it will get us all a better reception from the DCAs.

Once you have sent out your CCAs (today), in 12+2 days, you will know if your debts are enforceable; this will make it far easier, I believe, to negotiate FFS; just sit back and wait to hear from them - but don't hold your breath - most will not reply in my experience.

It's great to hear you have a generous family member to help you. There are people who were with Compass who owe 10 times your debt and there are few relatives willing to help out with those levels of debt - we need to have some generous help from the DCAs - I'm hopeful Celestine's work will pay huge dividends - I'm about to up my membership of Legal Beagles to life membership in gratitude for the huge amount of help and advice gained on here.

Amethyst - how do I upgrade to life long membership?

Wingco

[Wingco]

Re: Compass debt company

Those ones still with original creditors (halifax and cap one) - have the accounts actually been defaulted or stuck on AP on your credit file for the last few years while you were with Compass ?

I know you've done all the CCA requests - did you also ask for full statements of the accounts as well ?

I've asked all of my creditors except LLoyds (CCs and Overdrafts) for statements of my balances - none received yet - I'm going to chase on my return from France. P$&sing with rain here today

[Amethyst]

Re: Compass debt company

Aww bless your heart, that has to be done manually and I'd rather you waited until your finances were back on track ( same goes for everyone!!!)

However if you want to you can donate direct through paypal ( info@legalbeagles.info ) or by bank transfer to the bank account details on the Join VIP link and let me know and I'll sort the other bit out this end xxx The thought is very much appreciated xxxxx

[Wingco]

Re: Compass debt company

Those ones still with original creditors (halifax and cap one) - have the accounts actually been defaulted or stuck on AP on your credit file for the last few years while you were with Compass ?

I know you've done all the CCA requests - did you also ask for full statements of the accounts as well ?

All CCs were defaulted.

Wingco

[Amethyst]

Re: Compass debt company

Phew ! Good stuff Unusual for them to keep hold of it for so long, but as on an arrangement maybe it worked out better for them. Suspect they will be sold on if the AP isn't re-set up again.

[Wingco]

Re: Compass debt company

Aww bless your heart, that has to be done manually and I'd rather you waited until your finances were back on track ( same goes for everyone!!!)

However if you want to you can donate direct through paypal ( info@legalbeagles.info ) or by bank transfer to the bank account details on the Join VIP link and let me know and I'll sort the other bit out this end xxx The thought is very much appreciated xxxxx

I think we are delighted for the 'free' help we get from you guys.

I'm going to raid my biscuit tin for some pennies to pay you.

Wingco

[Wingco]

Re: Compass debt company

Aww bless your heart, that has to be done manually and I'd rather you waited until your finances were back on track ( same goes for everyone!!!)

However if you want to you can donate direct through paypal ( info@legalbeagles.info ) or by bank transfer to the bank account details on the Join VIP link and let me know and I'll sort the other bit out this end xxx The thought is very much appreciated xxxxx

That could take 40 years - I might not live that long!!!!! Just upgraded - will email you at admin@legalbeagles.info

[Wingco]

Re: Compass debt company

Those ones still with original creditors (halifax and cap one) - have the accounts actually been defaulted or stuck on AP on your credit file for the last few years while you were with Compass ?

I know you've done all the CCA requests - did you also ask for full statements of the accounts as well ?

Celestine - I forgot NCO Europe; there are so many of them!!!

Wingco

[Wingco]

Re: Compass debt company

I know this sounds really nosey, but would you be able to send me copies (admin@legalbeagles.info ) - I'm more than happy for you to redact your personal info off first - I'd just like to have a look at the calculations and how these IE sheets were worded. Is any account taken of the 'savings pot' at all in the IE?

Hi Amethyst
I'm not sure I kept my refreshed Compass I&E (requested late 2015) or original I&E (Jan 2014) but I will give you an updated version if that helps?
It didn't seem important at the time - but like all paperwork, you never realise how important things are until you need them.
I can recall the Compass Rep suggesting some figures for my weekly/monthly expenditure and then later saying, "Don't worry about that - it won't help." E.G. I have a small annuity every December and he excluded that from my income!!!!! I had a few hundred in savings too which he also chose to ignore; I call it my 'pot' for F&FS.
Wingco
When I submitted my refreshed figures, I added them in because my business income has reduced even further since Jan 2014. Even so, it's hard to see how he got down to £300 per month. But as my interest alone on my debts was well over £2000 per month, I was happy to go along with his 'assessments'. I've only used accurate figures since as it just isn't worth getting caught out. It has to be better than an IVA or Bankruptcy for me.

[sal77]

Re: Compass debt company

Hi Amethyst

I owe the following:
Wescot £2,458.53
Cabot £338.17
Robinson Way £280.79

I have been paying these creditors since 2006 with Compass.

Thank u so much for your help, it's very much appreciated.

[Gilltheblackcat]

Re: Compass debt company

I owe the following:
Wescot £2,458.53
Cabot £338.17
Robinson Way £280.79

because of Compass - the £5,000+ they have stolen from me & now the money I have to find again to pay off my debts. ,

is that 5k your 'pot'…?

That's more than you owe? I had roughly similar to what I owe in mine....

[Amethyst]

Re: Compass debt company

Rob Way and Cabot you could likely get a decent settlement on ( potentially a reduced settlement payable by installment). Westcot I don't know much about, as far as I am aware of them they are 'middle men' and will assign the debt elsewhere if it's not being paid - I'll have a look tmw for other stuff on here about them.