MattyA UE Diary

[Never-In-Doubt]

Re: MattyA UE Diary

Weird that I never noticed half of this first time round but I do wonder why you have scribbled out something next to PPI even though there is a cross through it, what's all that about?

However the terms are not relative, as the ones they are purporting to be the originals show an APR of 17.6% / 15.9% but the additional pages show it as a shocking 23.9% / 25.9%.

I suspect that the card was actually 15.9% at outset but then for it to increase the APR by over a third in only 5 years is kinda shitty to say the least. I would think you have good grounds to argue that you never seen those terms at inception and put them to strict proof that they did indeed send them cos I doubt they did.....

It is easy to remedy as technically the argument is lack of understanding over the terms, as they vary so much between what they've sent you. So I don't think we can jump around shouting unenforceability but I do think you should play along a bit more and/or go in with an offer - whatever really. Thing is, why make offers when you can do that as and if they start formal action.

Upto you mate, decisions, decisions.......

[MattyA]

Re: MattyA UE Diary

Weird that I never noticed half of this first time round but I do wonder why you have scribbled out something next to PPI even though there is a cross through it, what's all that about?

However the terms are not relative, as the ones they are purporting to be the originals show an APR of 17.6% / 15.9% but the additional pages show it as a shocking 23.9% / 25.9%.

I suspect that the card was actually 15.9% at outset but then for it to increase the APR by over a third in only 5 years is kinda shitty to say the least. I would think you have good grounds to argue that you never seen those terms at inception and put them to strict proof that they did indeed send them cos I doubt they did.....

It is easy to remedy as technically the argument is lack of understanding over the terms, as they vary so much between what they've sent you. So I don't think we can jump around shouting unenforceability but I do think you should play along a bit more and/or go in with an offer - whatever really. Thing is, why make offers when you can do that as and if they start formal action.

Upto you mate, decisions, decisions.......

Thanks boss.

The answer to your PPI question is that I signed the application form in the wrong place and crossed it out when I realised that I should have been signing somwhere else.......If only I knew then what I know now

Anyways easy decision - will let it run for now and make offers when I have too.

Thanks very much for having another look at it for me its much appreciated.

How do you reckon I should respond to their letter offering F&F of £3.oddK or arranging manageable monthly payments....?

Matty

[Never-In-Doubt]

Re: MattyA UE Diary

How do you reckon I should respond to their letter offering F&F of £3.oddK or arranging manageable monthly payments....?

Matty

What is the balance again mate? And who owns the debt, i.e. hassles you/makes these offers?

[MattyA]

Re: MattyA UE Diary

What is the balance again mate? And who owns the debt, i.e. hassles you/makes these offers?

Balance £6.5K - Red Castle / Gothia hassle me and say they purchased the debt.

[Never-In-Doubt]

Re: MattyA UE Diary

Balance £6.5K - Red Castle / Gothia hassle me and say they purchased the debt.

Ahh they're easy to haggle with mate - they usually send random emails offering 3 options to pay. Its up to you but I think 50% is too high, maybe email offering £1k and say it's a loan from your dad and that is all he is prepared to give - take it or leave it, see what they say (if they agree then we'll send the formal agreement template)

Or sit and wait? However they may accept anything between £1-£2k if you want to get rid of it mate?

[MattyA]

Re: MattyA UE Diary

Weird thing is I am just re-reading their letter and as the letter is headed 'Final Response' they say if i dont like what they are saying I have 6 months to take it to the FOS.....does this mean that they are going to wait 6 months till the chase me again / start proceedings.....I doubt it very much.

Matty

[Never-In-Doubt]

Re: MattyA UE Diary

Weird thing is I am just re-reading their letter and as the letter is headed 'Final Response' they say if i dont like what they are saying I have 6 months to take it to the FOS.....does this mean that they are going to wait 6 months till the chase me again / start proceedings.....I doubt it very much.

* that's all I can say

[MattyA]

Re: MattyA UE Diary

Ahh they're easy to haggle with mate - they usually send random emails offering 3 options to pay. Its up to you but I think 50% is too high, maybe email offering £1k and say it's a loan from your dad and that is all he is prepared to give - take it or leave it, see what they say (if they agree then we'll send the formal agreement template)

Or sit and wait? However they may accept anything between £1-£2k if you want to get rid of it mate?

Started with a 1k offer which they ignored and upped it to £2k....to which they responded £3.3K would be acceptable.

Might try em again at £2k explaining that is really more than I can afford and all 'dad' is prepared to give me - maybe adding that I am awaiting a date for a court hearing ,which I am not hopefull of winning and will result in me having no option to go bankrupt?

Matty

[MattyA]

Re: MattyA UE Diary

Or in light of your last comments....maybe just let it lie and see what happens.
(I always find it very hard to sit tight and not reply to any letters that I receive though for some reason)

Matty

[Never-In-Doubt]

Re: MattyA UE Diary

whatever you prefer mate - you're the boss

[MattyA]

Re: MattyA UE Diary

haha - Its got in my head this one - as it is / could be enforceable.

TBH I have no idea which is the right way to jump with this one ....lol(Will sleep on it)

Thanks for your help as ever Nidster.

Matty

[MattyA]

Re: MattyA UE Diary

Hi Boss - bit of indecision on my part here.....which is the first for a while(dont want to cock this up as it is my first F&F attempt).

Tempted to ignore their offer and wait to see what happens - but I dont want to get banged straight into court by them and end up paying the lot + costs.

So maybe the best way forward (for me) would be to drop them a quick note rejecting their offer and reitterating the fact that my previous offer really was as much as I can get together and ask them to reconsider it before I am forced to pay other debts further to the looming court action I face?

Matty

[Never-In-Doubt]

Re: MattyA UE Diary

Hi Boss - bit of indecision on my part here.....which is the first for a while(dont want to cock this up as it is my first F&F attempt).

Tempted to ignore their offer and wait to see what happens - but I dont want to get banged straight into court by them and end up paying the lot + costs.

So maybe the best way forward (for me) would be to drop them a quick note rejecting their offer and reitterating the fact that my previous offer really was as much as I can get together and ask them to reconsider it before I am forced to pay other debts further to the looming court action I face?

Matty

Yea try it mate, before sending it email me a copy and let me check it - may add a few things to help as well

But I do think it would we wise to look at paying especially as they can easily rectify the errors and it'd not be a defence in itself to strike out based on the terms being slightly wrong (we think).....

I would emphasise the fact you have a LOT of debt and are considering BR so this offer will be the very last, and you may still go BR after you pay this account, so it'd be in their best interests to accept it......

[MattyA]

Re: MattyA UE Diary

Which email addy do I send it to?

[Never-In-Doubt]

Re: MattyA UE Diary

Which email addy do I send it to?

all done - looks good, lets see what happens with it... copy below for others to see.... Well done mate, good letter

Account ref: xxxxxxxx

Thank you for your letter dated 29-12-11. I am however unable to raise the additional funds to enable me to settle the matter as per your client’s revised offer of £3,319.63 which is, all things considered, rather extreme to say the least.

I do however still have the funds available to settle this matter immediately as per my offer detailed within my letter to you dated 2-11-11, to clarify this amount is the sum of £1,000.

I do not see the point in entering into a long term payment plan with you, when I know full well that I will not be able to maintain regular payments to you or your client, particularly as I owe considerable sums( In excess of £150K) to many different lenders who are all pressing me for payment – none of these other creditors have had any such offer as the debts are far greater than this one and so I am physically unable to gather the funds they require in order to settle.

As previously pointed out to you, legal proceedings brought against me by another lender for a considerably larger debt continue and I am currently awaiting a date for the third and final court hearing, which I understand to be imminent. It is likely that I will lose this particular action and will be forced into bankruptcy as I will not be able to satisfy the judgement made against me (or even pay the costs which are now substantial) and I therefore urge you to reconsider my offer, as quite frankly this is the best offer I can make at this time and cannot guarantee that I will be able to keep this offer open for much longer. If accepted I will make the payment (subject to proper agreements being drawn up in full and final settlement) within 7 days of your acceptance.

I look forward to your urgent response and hope that we can settle this matter once and for all.

Yours faithfully,