Compass debt company

[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

[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 ?

[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

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?

[Wingco]

Re: Compass debt company

I am awaiting a response from Cabot. I will get one

Robinson Way added to my list. (Part of Hoist)

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

[Gazc]

Re: Compass debt company

Hi Debbie and Jackie and Welcome to the forum.


I was wondering Compass peeps in general - when you signed up with Compass did you actually complete any income and expenditure statements for them to assess your circumstances and work out your pro rata payments / disposable income at all ?

Yes, ours was done in May 2006, and payment to creditors were worked out on a percentage of the total debt, I even have the mans Compass business card who came to see us, and a letter of Mark Harrison and one from Rob Solloway.

[sal77]

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.

[Gazc]

Re: Compass debt company

My creditors are - Credit Security, Moorcroft, Intrum Injustitia (Managed by Experto Credite), Cabot, Capquest, Wescot, Link, Mint (MBNA), and Lloyds

[Wingco]

Re: Compass debt company

Short and sweet but in the public eye once again. Thanks Celestine. I asked Comrade Corbyn to raise it in PMQs with Dodgy Dave, does anyone know if he did? I doubt i somehow, but worth a punt.

I tried the same with Jeremy Corbyn a couple of weeks ago - the more of us who do it, the more likely JC will bring it up at PMQs - I will try again and post the Corbyn Team email address on here when I find it. You would have thought it was a golden opportunity not only to score a point against Dodgy Dave ("We are all offshore together") but to attempt to embarrass Amanda Solloway, but somehow, I think she is beyond embarrassing!
Wingco

[Dbigginton]

Re: Compass debt company

Hi someone came to my house in 2007 and that was the only time they asked for income and expenditure. I spoke to compass at Xmas and they asked me to do a new financial statement then but I never did it. I only heard from them approx 3 times in all those years except my monthly statement. I only heard recently as they wanted me to go to Abbey. I have found out that they have been listing one of my creditors twice under the original firm and a debt collector name but only paying them once.

[Jackie12]

Re: Compass debt company

Hi yes someone came to my house and did it that was back in March 2009

- - - Updated - - -

Hi yes 2009 some man came to my house but didn't do one after that

[Wingco]

Re: Compass debt company

I've now made 2 monthly payments to Abbey Solicitors & my calls not being returned! Should I cancel the standing order??

Having cancelled your Standing Order to Abbey, I would request your money back from Abbey, ask to see what work they have done on your behalf and their fees for those services.
If they don't refund your money - highly likely - I would also complain to the Financial Ombudsman and the Solicitors' Regulatory Authority as you, no doubt, firmly believe you have been mislead. The more of us who do that, the better it will be.
There are CCA letter templates on here and the perceived wisdom is to send your £1 by postal order with the words "For Statutory Fee Use Only" (Not sure why yet?) Send everything recorded delivery. Keep very good files of everything from now on.
If the Debt Collection Agencies (DCAs) fail to respond, it only means the debt is unenforceable which doesn't mean you don't owe the money nor that they can't take you to Court, but it does put you in a far stronger position and would probably deter the DCA from taking you to Court. It should also make them more likely to consider a Full & Final Settlement (FFS) figure - but no guarantees. A DCA has probably only paid around 10p in the pound for your debt. The clear recommendation on here is that you you continue to pay your debt within what you can afford and once you have sent the CCA letters they can't do much to you until they have proved that the debt is legal and correctly assigned to them; none of my creditors has been able to do this for me since I sent out my CCAs on 8th March - only one has responded.
They can only ask for money you can afford to pay back - nothing more.
I'm on the Compass Liquidator's Committee and if you would like to let me have your email address for updates, go to Private Messages (PMs). You can only use PMs once you have made 3 posts on here (plus at least 30 mins for the admin to catch up) - click on my name on my posts and it will give you the option to PM once you have qualified with the 3 posts.
Good luck and keep posting your progress - it helps everyone.
Wingco

[Gilltheblackcat]

Re: Compass debt company

It just upped the amount going in, not out. I was happy that I would have more FandF money.

[Amethyst]

Re: Compass debt company

When you upped your payments, did that increase your payments made to creditors or just the amount you paid to Compass ?

Might be worth adding to any letters to creditors that you'd appreciate a copy of any income/expenditure statements sent to them by Compass.

[Gilltheblackcat]

Re: Compass debt company

I was wondering Compass peeps in general - when you signed up with Compass did you actually complete any income and expenditure statements for them to assess your circumstances and work out your pro rata payments / disposable income at all ?

Once, when the rep came. Never again. I actually upped my payments about half way through my 'plan'.