Heading the Right Way!

[caspar]

A long way to go, but a lot of success had over the past financial year:

Bailiff Refund / Compensation £750

Car Finance Written Off £3650

Credit Card Written Off just short of £20000 (yes, that is 4 zeros!)

Loan Written Off £4500

Welcome Finance Second Mortgage Claim £850 (so don't believe only first mortgages qualify for claims!)

DWP £2000 overpayment written off after 8 year battle

Westcot DCA Invoices paid totalling £175 (£35 per letter) for admin time writing to them. Issued N1 for first one, then they just paid up.

Aim this financial year: To find a way to nail HFO who are nasty nasty people!

[The Debt Star]

Re: Heading the Right Way!

Yes but your circumstances differ from most peeps caspar, and while its good to give hope its also misleading to a certain extent as for most debtors debts of those sizes aint written off short of bankruptcy.

However all the best of luck with HFO. I know what the FO stands for lol, but the H?

[oscar]

Re: Heading the Right Way!

Yes but your circumstances differ from most peeps caspar, and while its good to give hope its also misleading to a certain extent as for most debtors debts of those sizes aint written off short of bankruptcy.

However all the best of luck with HFO. I know what the FO stands for lol, but the H?

This is a little incorrect Debt Star- I have also had a CC of circa £5K written off. It does take time, and is not easy by any means, but you just need to keep making creditors jump through hoops.

I relaise this is not going to apply to many "recent" debts, but to those older than 4 years or so, it can be done.

[The Debt Star]

Re: Heading the Right Way!

£20K?

[Never-In-Doubt]

Re: Heading the Right Way!

£20k loan, £24k loan & £17k on cards. All to one bank, formed in Yorkshire , all written off as "unrecoverable losses". That was £61k that I personally helped get wiped

Oh, it was also to one family (hub & wife)!

[caspar]

Re: Heading the Right Way!

Whatever the rights or wrongs, if ANYONE has been misled by my post and got false hopes I sincerely apologise. I have an illness which means my circumstances will not change in the future, so my ability to repay these debts will not change.

However, I got some written off before my illness got to this stage (admitedly not £20000) but £2-4K by battling. Others simply refuse to write off anything and so we continue not paying them and we play letter ping pong!

Once again apologies if anyone was misled, it was not my intention!

[The Debt Star]

Re: Heading the Right Way!

as I said "for most debtors." look, all I'm trying to say - and I'm being bleedin' shot down in flames over it - is that having "massive" amounts of debt in the tens of thousands written off without going bankrupt or going on an IVA is not, for the most part, the sort of experience that debtors have. Some do, sure. Not this one any road. Ergo, if there are exceptional circumstances for the massive debt sweeps described above then posters should state what that background is, not just "I've had X million written off this year. Give me a sticker." Rather, "I've had X million written off this year and that was because 90% of it was irrecoverable because of X, Y and Z reasons." If thats an unreasonable point, my apologies to all.

[Never-In-Doubt]

Re: Heading the Right Way!

as I said "for most debtors." look, all I'm trying to say - and I'm being bleedin' shot down in flames over it - is that having "massive" amounts of debt in the tens of thousands written off without going bankrupt or going on an IVA is not, for the most part, the sort of experience that debtors have. Some do, sure. Not this one any road. Ergo, if there are exceptional circumstances for the massive debt sweeps described above then posters should state what that background is, not just "I've had X million written off this year. Give me a sticker." Rather, "I've had X million written off this year and that was because 90% of it was irrecoverable because of X, Y and Z reasons." If thats an unreasonable point, my apologies to all.

I helped wipe £61k off cos i'm more clued up than the person I spoke with at HBOS and for no other reason than that!

Its the truth! He agreed to send me a letter with certain wording, upon receipt it was confirmed the debt was written off as a business loss; even though this wasn't what we originally set out to do but once they put the idea to us, we jumped on it and answered in accordance with what he'd already told me, would allow a write off in totality!

I wasn't shooting you down in flames, in fact nobody was! We were just pointing out that NO two scenarios are the same, it'd be almost impossible to get two identical scenarios so we always treat each as specific and unique, therefore I never thought spelling it out was necessary

[The Debt Star]

Re: Heading the Right Way!

Fairy nuff mate, ur the expert, I most certainly am not. But, if I'm thinking that you and Caspar are making it sound easy and routinely possible to strike out tens of thousands without paying lenders anything then its a sure bet that others will be thinking likewise.

But TBH that was the response I knew you'd post. So, if it really is the case that average Joe Debtor can kiss goodbye to £61K without considering bankruptcy or an IVA then great, no false hopes will be raised on here to be dashed later on.

[Never-In-Doubt]

Re: Heading the Right Way!

Hi

Ok I agree, no it is not routinely possible to wipe tens of thousands, but it is possible in minority cases. Apologies if I made it sound easy; it's not so much "easy" as being a predator and to be frank you're right; whilst it "can" be done it is not, by a long shot, a daily occurrence.

Cheers mate

[caspar]

Re: Heading the Right Way!

Hey DS,

No intention of shooting you down in flames - even apologised for misleading people if I had! You're absolutely correct it is unusual, very unusual, but also is not unheard of.

I'd also like to say there are a lot of people in a similar situation to me, maybe through different reasons, but nevertheless leaving the same end result, and there is no reason why they shouldn't give it a go. The view I take is if you don't ask, you won't get. If you do ask, they may still say no, but they might say yes.

For anyone with no real assets to speak of, and there are plenty of us around, there is certainly no harm in trying.

[garlok]

Re: Heading the Right Way!

Also DS there are several methods of dealing with a lot of debt which do fall outside the normal paths. Niddy has explained his case. But you can always try for an F & F we saved about 9.5K with a 10% settlement. it is a case of understanding where you are coming from and making a target of what you wish to achieve. in our case I pulled my pension fund on ill health grounds just to clear up and tick one box fully expecting to pay more. I studied the routine and asked our sols if they would handle it, they did and that was the result. Still have the blessed card battle though.

However most of these type of successes are achieved because of the weak systemic management structure within the financial insttitutions. i.e. the left hand does not know what the right hand is doing, until it all ends up in a row and they wake up too late which in this case proved conduct and accord as per C of A Lloyd LJ and others.

regards
Garlok

[The Debt Star]

Re: Heading the Right Way!

True, 'tis true.

[pompeyfaith]

Re: Heading the Right Way!

Garlok,

I had that at the co-op whilst one dept (customer services) was dealing with my PPI Claim another (collections) was hounding me for payments which I was not going to do why should I pay them a penny when they where holding 9k of my funds.

The point I am making is they do not communicate with each other and that is why a complaint can take so long.

Regards

[garlok]

Re: Heading the Right Way!

Absolutely PF. therefore whilst some would disagree this should be exploited as much they exploit us. It is perfectly legal with the full authority of their Lordships in the C of A. get it worng they lost Oh dear oh dear (LOL)

regards
Garlok