Debt help!

[Geoff21]

Right
I got myself into a financial mess with lots of debt.
The quick version I owe approximately £11,000 on 11 different accounts. Around 6 of these are with Lowell, One with Robinsons Way. One is with Cabot who attempted a CCJ however I sent them a request following advice and this is unenforceable in court at the present time.
I have had an offer of a loan from a relative to see if I can settle these debts by requesting full and final settlements.
These debts date back to 2012 and I have paid nothing since 2013. I would like to settle these if I am able and I am after some advice.
Cabot have offered me a discounted offer of around 50%
Lowell offered me 40% discount 1 year ago however I was not in a position to settle at that time.

[MIKE770]

Re: Debt help!

more info i.e. when taken out with whom last payments any further acknowledgment

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they are begging you???? something wrong for them to do that! you CCAd them did you??

[Geoff21]

Re: Debt help!

Which one Cabot? Or all of them?

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Cabot was originally Capital One
I sent a CCA request and they wrote back telling me it was unenforceable in court but this doesnt mean i dont owe it.........
This was around 3/4 months ago and i have heard nothing from them until now.
All the debts were opened in 2012 and defaulted with no further payments being sent in sept 2013.

[warwick65]

Re: Debt help!

Hi Geoff
At the risk of being too nosey
A quick list might help us to offer advice
name of debt ...type of debt...when opened...approx balance...who owns it now....any actions you have taken, last communication

e.g
Halifax , Credit card, May 2008, £2K, Lowell, sent CCA request 2015 not replied , letter offering discount.


I would be very wary at the moment of offering any F&F's , it will make little difference to your credit file

If you have not paid anything or acknowledged the debts in writing then in about 2 years they will be statute barred

Even if you do decide to go down the F&F I would never ever start at 50%

[charitynjw]

Re: Debt help!

Different types of debt (ie credit cards, loans, utility bills etc) usually require differing approaches, so it is unlikely that a 'one size fits all' solution can be given.
[MENTION=48934]Debt Camel[/MENTION] does offer some general guidance.
https://debtcamel.co.uk/debt-options/

[Geoff21]

Re: Debt help!

I think there's
-Catalogue accounts- littlewoods, very
-Bank/overdraft account
-Credit cards- capital one, aqua
-Store cards- new look, argos

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Thanks I'll have a look

[Geoff21]

Re: Debt help!

I have the offer from a relative to offer f&f settlement but do i make each letter debt specific or do i explain to them that I have 11 debt accounts and explain what I am offering everyone?

[Debt Camel]

Re: Debt help!

Well I suggest offering nothing to the Cabot one they can't produce the CCA for.

You could also consider asking all the other ones except the overdraft to produce a CCA... if they can't, cross them off the list!

Once you have a list of ones you want to offer to settle, I would send them all the same letter, saying your uncle (or whoever) has offered you £x to setle the following accounts - list them all - whoch is an offer of 43p in the £ (or whatever) so you are offering them £x in full and final setlement. You attach a letter from your relative saying "Dear Geoff, as we have discussed, I am happy to offer you £x if this will enable you to settle your outstanding debts which are enforceable."

[Geoff21]

Re: Debt help!

Im just gathering all the info, thanks so much for your help so far, what do i do with the overdraft one then? Thats currently with lowell too and has been since 2014. They've sent me letters asking me to pay it then one saying its escalating about a year ago but nothing since. There has been no payments made to lowell Ive made no contact with them and the last payment I made on that was when they closed the overdraft facility in september 2014.

[Debt Camel]

Re: Debt help!

Well it's not statute barred and there isn't a CCA for an overdraft... one of the ones you will have to make an offer to settle.

[Geoff21]

Re: Debt help!

One if the debts I have is for an Aqua Card, it was taken out in 2012 and no payments have been made since January 2013. Its for an amount of £1000. It was passed to Robinson Way who have attempted to contact me via telephone and emails which I have totally ignored. They sent me a letter saying they were going to visit my property however I again ignored it. I believe they have visited my property today but I did not answer so I cannot be sure but I think it was them. What can I do?

[MIKE770]

Re: Debt help!

they went away = you do not have to speak to them they have no rights

[Geoff21]

Re: Debt help!

They havent left a card so i am assuming them are going to return which worries me. Do you think I should respond to their email?

[MIKE770]

Re: Debt help!

if they return then ignore them , they will leave probably after 1st attempt they will not bother = if you see them ask them to leave or the police will be requested to attend. they have no tights o.k.

it is up to you how you wish to deal with the situation - you can agree a repayment or see their next proper move?

[Geoff21]

Re: Debt help!

So i ignored cabot and they've now offered me 25% of the full balance and they said they agree not to pursue any remaining debt and they will mark it partially satisfied...... I would like to settle for peace of mind but if they mark it partially satisfied then can i be chased for the rest?