Clarification required before I offer Final offer.

[Malakai26]

Hi everyone and thanks for looking.

First of all I have been trawling around looking for information, although some fits for me I was wondering if there was a clear and concise idiot guide regarding final offers to creditors. If there is please feel free to point me in that direction, but if not could someone advise me, I will explain as thoroughly as possible my situation.

I have 3 debts the rough figures and information
£7.5k to Halifax credit card although this has been passed to Blair, Oliver and Scott ltd. Debt Collectors, who state Halifax as client.
£7.5k to NRAM personal loan this is still with NRAM
£1.7 to Virgin Credit Card sent to Debt collector think it was Wescot/Arrow Global (I put in a CCA request Jan 2013 I received 2 letters saying they were dealing with the request, but no real reply regarding who owns it)

I have been unemployed now for 3yrs, and with the current economic climate I am still struggling to find employment. I have been making token payments of £5 to each of these debts on the 20th of every month. In relation to the Virgin Debt I have continued to pay them directly as I was before they sold it to Arrow. I may now have a real possibility of being able to make a lump sum offer on these debts but nowhere near what I owe.

From what I have been reading it has been suggested to request a CCA from all of these individually, is this the first step, even with NRAM who haven't passed it on or sold it?
Should I send another request to Arrow or just ignore them for the time being as they have been reticent in providing me with any proof of contract? Or should I send one to Virgin my original Creditor?

What is a reasonable offer?
Can they refuse offers?
What if one refuses and the other accepts?
If they refuse the offer what can I do and where do I stand?
If they accept the final offer is that the end of it? If not how do I make sure it is the end of it?
Is there a template for making this offer?

Hope this makes sense, I have a million and one questions probably going off on a kilter with them all and confusing myself and anyone reading this.

[labman]

Re: Clarification required before I offer Final offer.

I hope the two attachments clarify things a bit. They don't answer all your questions, but give you a way forward.

One shows how you calculate the offers fairly on a pro rata basis; the other is a formal letter to offer that sum. Anything else you want, just post up.

Sorry - computer seems to need rebooting to pick up hard disk. Will load second attachment when I can get it to work!

Right - think it's done it.

:beagle:

[FlamingParrot]

Re: Clarification required before I offer Final offer.

I have 3 debts the rough figures and information
£7.5k to Halifax credit card although this has been passed to Blair, Oliver and Scott ltd. Debt Collectors, who state Halifax as client.
£7.5k to NRAM personal loan this is still with NRAM
£1.7 to Virgin Credit Card sent to Debt collector think it was Wescot/Arrow Global (I put in a CCA request Jan 2013 I received 2 letters saying they were dealing with the request, but no real reply regarding who owns it)

I have been unemployed now for 3yrs, and with the current economic climate I am still struggling to find employment. I have been making token payments of £5 to each of these debts on the 20th of every month. In relation to the Virgin Debt I have continued to pay them directly as I was before they sold it to Arrow. I may now have a real possibility of being able to make a lump sum offer on these debts but nowhere near what I owe.

From what I have been reading it has been suggested to request a CCA from all of these individually, is this the first step, even with NRAM who haven't passed it on or sold it?

Were the above accounts opened before April 2007? If so, yes, it would be the first step, regardless of whether it's been sold or not. The CCA request is meant to establish whether there is a properly executed agreement with all the prescribed terms on it, it does not relate to debt assignment.

Should I send another request to Arrow or just ignore them for the time being as they have been reticent in providing me with any proof of contract? Or should I send one to Virgin my original Creditor?

If you have proof that you send a CCA request to Arrow, you shouldn't have to send another one. Having purchased the debt means they also have acquired all the duties and obligations that go with it, including obtaining the documents from Virgin. If you hear from Arrow again, do post up here and we'll suggest something to send them, depending on what they write.

What is a reasonable offer?
Can they refuse offers?

Yes, they can, there is no obligation to accept.

Before going any further with the offers, I would be sending off the CCA request first, to see what sort of paperwork they have (provided the accounts are pre-April 2007). Once you get those back, you will be better placed to assess the situation and see what offers you make, if any.

There's no rush!

[Malakai26]

Re: Clarification required before I offer Final offer.

Were the above accounts opened before April 2007? If so, yes, it would be the first step, regardless of whether it's been sold or not. The CCA request is meant to establish whether there is a properly executed agreement with all the prescribed terms on it, it does not relate to debt assignment.

Yes all of them are prior to 2007, I was unsure regarding the loan but have routed around and found something that says October 2006 on it. So I will send a CCA request as a first port of call.

Thank you both for the advice, I will get on straight away.

[FlamingParrot]

Re: Clarification required before I offer Final offer.

Great to hear they are all pre-2007!

Just to clarify, the reason this is relevant is because of a change in legislation, whereby s.127 of the Consumer Credit Act was repealed from April 2007, sadly this means it's easier for creditors to enforce accounts taken out after that time, for this reason I normally wouldn't suggest the CCA route for the newer ones.

[Malakai26]

Re: Clarification required before I offer Final offer.

Just an extra question, sorry to be a pain

I haven't had any real problems with NRAM, in fact they have been fabulous compared to Halifax and Virgin. The letter I sent to Arrow requesting the CCA was rather Grrrrrrr and up yours. Is there a polite and less antagonising way to ask for the information.

[labman]

Re: Clarification required before I offer Final offer.

This is what I use. It's not too 'Grrrrrrr' lol. I don't think so anyway.

Address

Date

Dear Sir,

Re:- Account No: XXXXXXXX/Your Reference Number: XXXXXXX

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection From Unfair Trading Regulations 2008 (CPUTR). I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

If you intend to send a reconstituted copy of the CCA you must declare the reason why it has been reconstituted and if the original exists and in what form (microfiche) etc.

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

I look forward to hearing from you.

Yours faithfully,

[IMG]file:///C:\Users\Home\AppData\Local\Temp\msohtmlclip1\01\c lip_image001.jpg[/IMG]

Print Name

In the gobbledegook above Print Name I put the attached and sign on top of it.

[Malakai26]

Re: Clarification required before I offer Final offer.

I have another thread I started back in Jan 2013 regarding the CCA request to Wescot/Arrow/MBNA, I have just posted a question on it due to new correspondence received on the 14th October. Rather than writing it all again I will post the link in case you can help, hope that is an acceptable manner to do things http://www.legalbeagles.info/forums/...t-still-unsure

I know you were interested if I received any further correspondence :tinysmile_hmm_t2: