Tweet
I have recently been given some money after a family member. I am contemplating making full and final settlement offers split 'pro-rata' to my 7 creditors. However, one of these creditors is Cahoot (Santander) and I have not paid them a penny since January 2009 and not heard from any DCA regarding the debt for over 4 years. I am disputing the debt on the grounds of UE. Is it worth including this creditor in my 'pro rata' split? Part of me thinks not as it a 'disputed' agreement, however, I am worried they may start chasing the debt between now and January 2015 when the debt becomes statute barred. Also, with them not receiving anything in 5 years they might take the 'pro rata' offer which would be approx. 27% of the total debt. What should I do? All help appreciated. Thanks.
-
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
Keep the money to fight those that that take you court, stuff the rest. Don't feel guilty. -
Re: Contemplating making f&f settlement offers on my debts - advice please.
I personally would put the money to one side, just in case, and sit tight for the next 12 months till it's Statute Barred. Indeed it's exactly what I'm doing myself
Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
If you've not heard anything from them for over 4 years I wouldn't be drawing attention to yourself by announcing that you have a pot of money they could have a sniff of!
Not only do you risk resetting the SB clock, but you also give them hope that they may get some money and would potentially even increase the risk of a court claim being raised if they thought they could apply pressure ahead of other creditors and get in there first.
If all the other debts are in similar situations then I'd agree with everyone else which is sit on it and wait the SB clock out!"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."
The consumer is that sleeping giant.!!
I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.
If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
Thank you for your responses. I guess telling Santander I have a pot of money isn't a good idea. However, with my other creditors I am making agreed payments bar one. I haven't paid into my Northern Rock account since Dec 2008 and it's due to be SB in Dec 2014. However, it is being chased by Marlin who are hounding me daily with phonecalls since they sent me my CCA. I guess I could always make a F&F offer to them alone?Last edited by lloydjones; 27 January 2014, 17:45.Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
Why? They are hounding you with phonecalls because they know their time is limited. They are harassing you into doing something you may regret and their harassment is working.Originally posted by lloydjones View Post
You are 11 months away from it being SB and there is a chance that you could string this out until that point. If you make a payment proposal now, unless is cunningly worded I cannot see how this will not acknowledge the debt therefore you will be resetting the clock. Marlin will then know you have a big chunk of money and will come after it AND the balance, by still issuing a court claim anyway.
I'd be tempted to try to ride out the storm and if you receive a claim then try a F&F offer as a basis for settlement."I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."
The consumer is that sleeping giant.!!
I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.
If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
I have to agree with what the others have said. Keep the money safe and only make F&F offers if things start getting tricky.
How come you're making agreed payments on some? Are they too new to be considered for UE?Let your smile change the world but don't let the world change your smile
I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.
If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
Unfortunately Marlin have a nasty reputation of taking people to court in a hurry! Really dont want that scenario. How can I hold them off for 10 months? ThanksOriginally posted by SaltnVinegar View PostLast edited by lloydjones; 27 January 2014, 21:04.Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
One is my wife's. The others all mine which are too new to be UE or I've looked into it but failed.Originally posted by Pixie View PostComment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
They're not as bad now they've ditched that amateur cheating lying law firm they used to use.Originally posted by lloydjones View Post
** the above statement is a fact from MY personal dealings with both Marlin and their "ex" solicitor so if they're reading this, shove the defamation act where the sun don't shine - suckers!!I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!
If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.ukComment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
Yes they have a reputation but so do many others, I'm not saying a court claim won't happen but I think you're letting their harassment get to you. Remember this is what they're good at.Originally posted by lloydjones View Post
You've also missed my point in my post above - you go to them offering a F&F offer at this stage its like dumping blood in the water full of sharks. You're just as likely to encourage them to make an application to court because they will then think you have the money to pay them. Right now they know nothing so going to court is a gamble. You tell them you have money its less of a gamble for them............"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."
The consumer is that sleeping giant.!!
I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.
If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
If they make a court claim can I then offer to make payments? I need to delay them as much as possible!!! Is it worth making f&f offers to my other creditors? No interest being charged so I could carry on making payments, however I want to be debt free - ASAP!Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
lloyd why do you want to be debt free asap? if it's to clean your record and there are defaults on there they are still going to go their full six years, satisfied or notComment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
I think that you are worrying too much. Don't pay, wait and see what they do, delay replying, you will NOT be debt free as long as you are making payments.Comment
-
Re: Contemplating making f&f settlement offers on my debts - advice please.
True. Defaults will remain however long it takes to pay.Originally posted by MrsD View PostComment
Comment