Enforceable debts and Settlement offers

[Taz54]

Enforceable debts and Settlement offers

Today, 17:04:PM
Hi, i'm new here and i'm just after a bit of advice please. My husband and I have been in a DMP for about 10 years, paying back several debts. We owe about £37,000 and it will probably take another 30 odd years to pay back. We've looked into full and final settlement offers which we've received from Cabot and NCO and they have offered 60% and 65%. I don't believe we've ever received one from PRA but rang and spoke to them and they have offered 45%, 50% and 55% on the 3 debts with them. We have taken out a loan to possibly pay everyone back, but can't do the whole lot (if PRA offered 65% like Cabot then we could afford it). They say they won't budge on the offer. Is it likely to be an enforceable debt and should I ask for CCA or would it have repercussions? Was kind of hoping it would be a way of getting them to play ball and go for a lower offer. Thanks

[MoneyNerd]

As far as I'm aware, there's no harm asking for CCA. I'm not sure if that's going to make them change their mind, however.

If PRA won't budge, have you asked Cabot and NCO lower full and final settlement offer? - nothing to lose by being cheeky!

[Taz54]

As far as I'm aware, there's no harm asking for CCA. I'm not sure if that's going to make them change their mind, however.

If PRA won't budge, have you asked Cabot and NCO lower full and final settlement offer? - nothing to lose by being cheeky!

Hi, thanks for posting. Cabot have offered 65% and NCO 60% so I think they're being quite reasonable already, not sure if they would go any lower? I originally asked PRA for 65% but via email I sent them an offer for 60% which they have refused. They are still asking for 45%, 50% and 55% on the 3 debts. I thought we were finally going to be rid of all the debts, but they won't budge unfortunately. Not sure what to do now!

[MoneyNerd]

Hi, thanks for posting. Cabot have offered 65% and NCO 60% so I think they're being quite reasonable already, not sure if they would go any lower? I originally asked PRA for 65% but via email I sent them an offer for 60% which they have refused. They are still asking for 45%, 50% and 55% on the 3 debts. I thought we were finally going to be rid of all the debts, but they won't budge unfortunately. Not sure what to do now!

Hey Taz, there's literally no downside to asking Cabot. Do it!

[MIKE770]

CCA Request if needed but this thread tells us nothing> what are the alleged debts and who says enforceable etc have they ever been to court & what is it all about - there has been cases of people regularly getting cash cowed i,,e, paying companies who do not have the necessary documents or right :- if not been to court wonder why??? do you own you home etc?

[Taz54]

CCA Request if needed but this thread tells us nothing> what are the alleged debts and who says enforceable etc have they ever been to court & what is it all about - there has been cases of people regularly getting cash cowed i,,e, paying companies who do not have the necessary documents or right :- if not been to court wonder why??? do you own you home etc?

We have several debts that we set up a dmp for 10 years ago and equal around £37,000. Only found out recently that we should ask for cca. I suppose we just trusted that the debt management company would sort it all out. None of the debts are still with the original creditors and have been passed on a few times. We're just at the stage now that we want to get rid of it all, rather than hanging over us for however many years and we are able to borrow from family. Yes we do own our own home (mortgaged) and no, never been to court, presumably as we've been paying into the dmp and never missed a payment.

[Guest]

You are in the right place here. the advice given on here is just great, as recommended, post up exactly what transpired, how debts were accrued and all information as to repayments you have made, I am sure the team will assist.

[Taz54]

Hi. I've had replies from all the agencies now and they've all come back as unenforceable at the moment except for one. How do I know if what they've sent is correct? I've received 2 letters from PRA today about the same debt. The first said "Please find enclosed documentation received to date, we are awaiting further documents in order to complete your request. We have currently deemed this debt unenforceable which means we are not able to take court or further enforcement action against you to recover the outstanding balance." They have sent lots of small print terms and conditions and has my name and address on, but no date. Also says Bank of Scotland, but the credit card was Halifax, but presumably that's because they're part of the same group.

The second letter received from them today states "We have enclosed copy documents as requested. Please contact our office within 10 days of receipt of this letter where an agent will be able to assist you. Our fully trained agents will discuss your account further with you and help you come to a mutually acceptable agreement in order to settle your outstanding balance." This letter contained a few pages of credit card statements starting from 09/11/2009 (when the balance was £12,942) so not from the beginning. The statements have my name and address on, but doesn't state which bank they refer to.

Do you think this is all correct? Thanks everyone.