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  • Warwick65
    replied
    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.

    Leave a comment:


  • Roger
    replied
    Originally posted by 1Gent View Post

    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.
    Last edited by Roger; 3 October 2018, 07:17.

    Leave a comment:


  • 1Gent
    replied
    I have the notification below on my account page but no way to view what is quoted about me!


    Click image for larger version

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    Leave a comment:


  • 1Gent
    replied
    Originally posted by Roger View Post
    But where in the CCA is there any provision for F&F ? You wont find it in the Consumer Credit Act. Could or would that F&F stand up in Court?
    [LEFT][COLOR=#555555][FONT="Noto Sans"][SIZE=13px]This isn't a Tomlin agreement and in reality you won't be Statute Barred until 6 years from now because you have acknowledged these Debts and this is at face value not partial value.
    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!

    Originally posted by Roger View Post
    Actually a better route for you would have been to offer them a £1 per month.
    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.

    Leave a comment:


  • Roger
    replied
    Originally posted by 1Gent View Post

    Only the paragraph on their reply as below


    Click image for larger version

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    But where in the CCA is there any provision for F&F ? You wont find it in the Consumer Credit Act. Could or would that F&F stand up in Court?
    This isn't a Tomlin agreement and in reality you won't be Statute Barred until 6 years from now because you have acknowledged these Debts and this is at face value not partial value.
    It is worth while looking at how this is shown on your Credit Reports BTW.

    Actually a better route for you would have been to offer them a £1 per month.

    Leave a comment:


  • Roger
    replied
    Originally posted by 1Gent View Post
    Only the paragraph on their reply as below Click image for larger version  Name:	PRA_wont_sell.jpg Views:	1 Size:	38.8 KB ID:	1515940
    But where in the CCA is there any provision for F&F ? You wont find it in the Consumer Credit Act. Could or would that F&F stand up in Court?
    This isn't a Tomlin agreement and in reality you won't be Statute Barred until 6 years from now because you have acknowledged these Debts and this is at face value not partial value.
    It is worth while looking at how this is shown on your Credit Reports BTW.

    Actually a better route for you would have been to offer them a £1 per month.

    Leave a comment:


  • vaper
    replied
    Originally posted by 1Gent View Post
    Vaper,

    My post wasn't intended to be rude just to the point so I would certainly apologise to anyone who felt this was the case.

    The point I was making is that I couldn't find the information myself anywhere, so when I wrote the first letter to PRA I was totally flying by the seat of my pants, and had they come back and said "We want 100% of what we are owed" I would have been stuffed. On the other hand nobody seemed to know either how I stood should I do a CCA request which failed because PRA had all of the documents needed, and as I said from the start personal circumstances meant I was unsure about playing the long game.


    cymruambyth,

    I accept the point that few people could raise the money to clear their debts in this way, but in my particular case I did make it clear from the start that I was willing and able to borrow the money.
    Sorry, my mistake. I took it the wrong way

    Leave a comment:


  • 1Gent
    replied
    Originally posted by Roger View Post

    However do you have any guarantees that the residual Out Standing Debt won't be sold ON because this is a partial settlement.

    This happens. AAD wish you well.
    Only the paragraph on their reply as below


    Click image for larger version

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ID:	1515940

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  • Roger
    replied
    The problem is no Diary Entry to help.
    Its almost impossible to advise without at least the basic Info.
    Can really speculate without more knowledge and background detail.

    Each Case really is different. The Law is more dynamic than you might think.
    However in the End you are satisfied with your Outcome. This is all that really matters.
    As I say AAD wishes you well.

    Leave a comment:


  • Roger
    replied
    On the contrary there are very good reasons for NOT going the F&F route.
    If the Debts are UE and they will remain on your Credit File for 6 years! Why would you want to fork out a penny to PRA?
    These Debts have been written off for tax purposes. That means monies which might have gone to genuine Charity.
    It is your choice off course AND in some Cases yes! However do you have any guarantees that the residual Out Standing Debt won't be sold ON because this is a partial settlement.

    This happens. AAD wish you well.

    Leave a comment:


  • 1Gent
    replied
    Vaper,

    My post wasn't intended to be rude just to the point so I would certainly apologise to anyone who felt this was the case.

    The point I was making is that I couldn't find the information myself anywhere, so when I wrote the first letter to PRA I was totally flying by the seat of my pants, and had they come back and said "We want 100% of what we are owed" I would have been stuffed. On the other hand nobody seemed to know either how I stood should I do a CCA request which failed because PRA had all of the documents needed, and as I said from the start personal circumstances meant I was unsure about playing the long game.


    cymruambyth,

    I accept the point that few people could raise the money to clear their debts in this way, but in my particular case I did make it clear from the start that I was willing and able to borrow the money.

    Leave a comment:


  • cymruambyth
    replied
    1Gent I am sorry that you feel let down by AAD. Not many people are in the position to raise the money that you could to arrange a F&F settlement for their debts, so the advice given reflects this.
    The reliance on CCA requests is because knowing whether or not there is a legally enforceable agreement can help people decide on the best way to proceed.
    Finally to state that this site is free advertising for Jo Connolly is a total misnomer. Procedural and legal guidance is given through the vast experience that Jo has in fighting to ensure that the Consumer Crefit Act is correctly enforced. This advice on the site is free. Di, after having spent many years fighting financial battles has gained considerable experience with which she tries to help others; she gained a job with Jo due to the knowledge that she had gained. Her signature reflects her job not as an advertisement. The advice she gives has saved many posters a considerable amount of money and given support and comfort at difficult times in their lives.

    As you stated this site is a self help group with people giving advice based their experiences and when they have the opportunity to spend time here.

    Leave a comment:


  • vaper
    replied
    Originally posted by 1Gent View Post
    As much as I don’t wish to accuse all on this section of the forum of being a one trick pony, I couldn’t really get much help with what I was trying to achieve so had to go it on my own. It took me only a touch over three weeks to achieve exactly what I wanted, namely to only pay the reduced (by two thirds) amount offered by PRA as a Full & Final settlement, meaning I can now forget about it. See attachments.

    [ATTACH]n1515892[/ATTACH]
    [ATTACH]n1515894[/ATTACH]
    [ATTACH]n1515896[/ATTACH]
    [ATTACH]n1515898[/ATTACH]

    It seems that because nearly everybody answering here has been in a similar situation themselves in the l past this section of the All About Debt Forum seems to have become a bit of a bank and DCA bashing exercise, as well as an advert for Joanna Connolly Solicitors.

    Like most others I disagree with the likes of PRA being able to make vast profits from others misfortunes. On the other hand the banks themselves, as well as the CC companies, do the same on a daily basis and often whilst providing a less than adequate service. Although while on the subject these days many UK companies make millions (Telecoms, utilities and Airlines for example) and Joe public still happily uses them in spite of the level of service often being worse than bad.

    So hopefully it will get through to some that because I wished to deal with this debt as quickly as possible and move on with my life sooner rather than later, it doesn’t make me a DCA sympathiser or lover of anyone in any type of financial organisation, just someone who became clear in his own mind that his preference (even if different to others) was to not spend the next six years waiting for the next letters to arrive or waiting to see if they do.

    Mostly people provided me with advice on how the card companies would trick me, track me down, take me to court and even how a judge may or may not react to me, but nothing much discussing what I actually asked for help with.

    In particular Diana Mayhew’s post number 9 (link below) even advised me that whether or not I spend several years dealing with this wasn’t in my control, Diana I beg to differ!



    However I am willing to accept that in the main people on here are genuinely trying to help others from their own experience (Warwick65 being the best example), in exactly the way forums are supposed to work, only perhaps things are becoming a little too biased towards using CCA requests.

    My hope is that this may help others in a similar situation who will at least feel they can consider there may be another way, and that even if it won’t suit everyone with one of these offers I had, with very carefully written letters and proceeding with caution, for some it might be a better option than a CCA request.
    I have been following this thread because I am in a similar position with PRA ex MBNA and have received almost identical settlement letters (apart from the amounts).
    I am glad you managed to close the account with a full and final settlement which you were happy with.
    You say you didn't get the answers you needed and ended up finding the information yourself. Well done.
    I do think that your post comes across as very rude to the people on this forum have offered you advice free of charge!!!!! Just my opinion of course.
    I will carry on reading these boards and take the free advice offered by the many lovely, helpful members.

    Leave a comment:


  • 1Gent
    replied

    As much as I don’t wish to accuse all on this section of the forum of being a one trick pony, I couldn’t really get much help with what I was trying to achieve so had to go it on my own. It took me only a touch over three weeks to achieve exactly what I wanted, namely to only pay the reduced (by two thirds) amount offered by PRA as a Full & Final settlement, meaning I can now forget about it. See attachments.

    To_PRA_1.pdf
    From_PRA_1.pdf
    Reply_to_PRA.pdf
    From_PRA_2.pdf

    It seems that because nearly everybody answering here has been in a similar situation themselves in the l past this section of the All About Debt Forum seems to have become a bit of a bank and DCA bashing exercise, as well as an advert for Joanna Connolly Solicitors.

    Like most others I disagree with the likes of PRA being able to make vast profits from others misfortunes. On the other hand the banks themselves, as well as the CC companies, do the same on a daily basis and often whilst providing a less than adequate service. Although while on the subject these days many UK companies make millions (Telecoms, utilities and Airlines for example) and Joe public still happily uses them in spite of the level of service often being worse than bad.

    So hopefully it will get through to some that because I wished to deal with this debt as quickly as possible and move on with my life sooner rather than later, it doesn’t make me a DCA sympathiser or lover of anyone in any type of financial organisation, just someone who became clear in his own mind that his preference (even if different to others) was to not spend the next six years waiting for the next letters to arrive or waiting to see if they do.

    Mostly people provided me with advice on how the card companies would trick me, track me down, take me to court and even how a judge may or may not react to me, but nothing much discussing what I actually asked for help with.

    In particular Diana Mayhew’s post number 9 (link below) even advised me that whether or not I spend several years dealing with this wasn’t in my control, Diana I beg to differ!

    Originally posted by Diana Mayhew View Post

    I also agree that nobody wants to spend several years dealing with debt but sadly that's not something that's within your control. The debt purchasers/creditors hold all the cards until you find a way to turn the tables. A section s 77-79 CCA Request can be the start of shifting the dynamics.

    Di
    However I am willing to accept that in the main people on here are genuinely trying to help others from their own experience (Warwick65 being the best example), in exactly the way forums are supposed to work, only perhaps things are becoming a little too biased towards using CCA requests.

    My hope is that this may help others in a similar situation who will at least feel they can consider there may be another way, and that even if it won’t suit everyone with one of these offers I had, with very carefully written letters and proceeding with caution, for some it might be a better option than a CCA request.

    Leave a comment:


  • 1Gent
    replied
    I did Di but only so you had the picture.

    Leave a comment:

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