Tweet
Firstly, hello to all and hopefully some expert advice:
Like many, the 2009 recession took a big hit on my once 40 year perfect financial history. Needless to say, in 2011 I was simply robbing Peter to pay Paul, so turned to the CAB, who were fantastic; agreements set up with all CC's. Most debts remained with the original Account Holders, but RBS CC went to Westcots in c2014, though they had not bought the debt.
in 2016 I wrote, without prejudice, to all CC's with my offer for full and final settlement (55%) and every single one agreed (except PRA, but that was a small CC and N/A to this post).On receiving the funds I was in the process of paying off CC's when I received a letter from Westcots stating that the RBS had decided to overturn their acceptance of offer. I followed the complaints procedure and it was determined that they'd checked my current account, seen my balance was significantly more than the offer and this was their reason for withdrawal. To say I was miffed was an understatement; so near to being debt free!
At some point in 2017 I started again to receive RBS Visa statements, though, I was still paying the DPM to Westcot. In 2018 I received a letter, I think from the RBS, stating that PRA Gp were taking over and details of Payment Reference/bank details were supplied. There was no mention that they had sold the debt. And I simply changed the bank details and continued my £5 DPM.
Now, remember, I'd offered settlement @ 55% which was initially agreed on the debt of £6300. In February this year I sold my house and I want to settle this debt in order to be completely debt free. I called PRA to see if I should send them an offer letter or the RBS, which is when I discovered that the RBS had sold the debt and that the PRA now owned it.
Having researched this forum and others, and knowing previously that the PRA dont play ball with anything less than 80%, I sent them the 'Rquest for information Section 77-79 CCA 1974' and have finally received their reply: 'Unfortunately, due to the age of this account we are currently unable to provide copies of your original agreement. We are therefore unable to satisfy your request.' They then go on to say that they classify it as unenforceable - no court or other enforceable action will be taken etc.
What now then?
The debt is not on file as cleared 2017 (6 year point), but should I still pay the DPM or stop it, I have never signed an agreement with PRA?
Should I simply forget it? But what if I popped my clogs, the debt would effectively still exist, and there is no way I would want that for my loved ones to sort out!
Ideally, I'd simply like to see evidence of what the PRA bought the debt for and, buy it off them for that sum......just want to be debt free.
I trust there is enough detail to get some great advice, thank you in advance.
Jock
Like many, the 2009 recession took a big hit on my once 40 year perfect financial history. Needless to say, in 2011 I was simply robbing Peter to pay Paul, so turned to the CAB, who were fantastic; agreements set up with all CC's. Most debts remained with the original Account Holders, but RBS CC went to Westcots in c2014, though they had not bought the debt.
in 2016 I wrote, without prejudice, to all CC's with my offer for full and final settlement (55%) and every single one agreed (except PRA, but that was a small CC and N/A to this post).On receiving the funds I was in the process of paying off CC's when I received a letter from Westcots stating that the RBS had decided to overturn their acceptance of offer. I followed the complaints procedure and it was determined that they'd checked my current account, seen my balance was significantly more than the offer and this was their reason for withdrawal. To say I was miffed was an understatement; so near to being debt free!
At some point in 2017 I started again to receive RBS Visa statements, though, I was still paying the DPM to Westcot. In 2018 I received a letter, I think from the RBS, stating that PRA Gp were taking over and details of Payment Reference/bank details were supplied. There was no mention that they had sold the debt. And I simply changed the bank details and continued my £5 DPM.
Now, remember, I'd offered settlement @ 55% which was initially agreed on the debt of £6300. In February this year I sold my house and I want to settle this debt in order to be completely debt free. I called PRA to see if I should send them an offer letter or the RBS, which is when I discovered that the RBS had sold the debt and that the PRA now owned it.
Having researched this forum and others, and knowing previously that the PRA dont play ball with anything less than 80%, I sent them the 'Rquest for information Section 77-79 CCA 1974' and have finally received their reply: 'Unfortunately, due to the age of this account we are currently unable to provide copies of your original agreement. We are therefore unable to satisfy your request.' They then go on to say that they classify it as unenforceable - no court or other enforceable action will be taken etc.
What now then?
The debt is not on file as cleared 2017 (6 year point), but should I still pay the DPM or stop it, I have never signed an agreement with PRA?
Should I simply forget it? But what if I popped my clogs, the debt would effectively still exist, and there is no way I would want that for my loved ones to sort out!
Ideally, I'd simply like to see evidence of what the PRA bought the debt for and, buy it off them for that sum......just want to be debt free.
I trust there is enough detail to get some great advice, thank you in advance.
Jock
Comment