PRA Group full and final settlement help please

[1Gent]

I have the notification below on my account page but no way to view what is quoted about me!

[Roger]

Roger,

From everything I have ever read, a lot of it on this actual forum, the DCA's pay a very small percentage when they buy these debts, it therefore seems to me to be pretty unlikely they are going to spend time chasing someone who has paid about 30% of the total (more than ten times their cost if estimates are correct) especially after sending the letters I have received. If this should happen I will quite happily try my luck in front of a judge in court.

I would have been statute barred for almost 6 years in any case and from my reading once it was defaulted nothing was going to stop that anyway, even paying it off in full!



Everybody who I asked on forums (and even citizens advice) suggested that if I was on any kind of payment plan with PRA, whether it be a pound or a lot more per month, they would want regurlar income and expenditure forms completed along with proof of income, or in the case of unemployment proof of this and a good reason you can't get a job. As it is my intention to get straight back into self employment and build a decent business rather than become a layabout this course of action doesn't seem to make very much sense to me.

Well been there as they say! Me and a lot of others on AAD.

Lay about? Well my business was destroyed by the Banking Crisis. Understand only a Court can Order you to supply a I & E. Why dance to PRA's tune.
The various so called independent Debt Advice are backed by the Banking Industry. Bad Debts and Tax write offs are normal business routinely done on a monthly basis. Selling of tranches of Debt to Global Debt Purchasers is routine and BIG business.

As for moral duties and rights! Don't see any of this with the Debt industry. The Consumer Credit Act is for Us! We are the Consumer and its Our Rights protected in Law. The penalty for their flouting that Law is UE. That is the determined Law of Our Parliament in Our Consumer Defence UE.

Now again I don't know the details of your Debts and ever Case really is different.
I mentioned a Tomlin and this is a court back agreement!
PRA intent is to maximise their Investment. That right BAD Debts are an Investment in PRA'S eyes. Debt Purchasers see the Debtor as a GOOD Investment, I hope you can see the irony of this as Creditors shun you the Debt Collectors are the sharks that circle around the wounded Debtor!

Nice little earners which include Statuary Interest, Charging Orders, Attachment of Earnings etc. etc,
Now sometimes you need to hold your nerve and not blink!! A Tomlin order is the only really safe F&F in Law!

I wish you well from AAD but you didn't really try Our Diary way so you never really had the benefit of the AAD pearls of wisdom.
As I say without the details it is unsafe to advise! Speculation is unwise with individual Debts.

[Warwick65]

Hi
While personally I would have done things differently you are an individual who arguably has free will. You should do whatever is best for you and bugger everyone else.

I would however, like to add
Di was correct when she said the way it progressed was out of your control because it was down to PRA to decide on the course of action that suited them best Frankly they have one motive and that is profit.

Di also has to be careful in any opinions she gives because on here she is acting as a representative of Joanna Connolly who is a regulated solicitor

I also feel you are wrong to think this is an advert for Jo, I am sure there are many cases they decline because they are not suitable for the client. Who would pay for a solicitor on a debt of a few hundred quid? Then Di gives advice on how to best deal with things.

I would think. . in an unqualified way, your letter has created an agreement between you and PRA so you will be fine.

My final point is, I do not agree with or condone debt avoidance I. E taking on debt with no intention of paying it back, but at the same time the banks have a duty to get it right. If they don't they should be held to account. The cca is there apparently to protect the consumer although if adhered to it gives the banks as many rights.

I do, however hope Marx was right, if a bit premature in that humans will evolve and capitalism fail. Giddins was wrong in his opening paragraph of the Third Way.