Greymatter's ue Diary

[greymatter]

Re: Greymatter's ue Diary

Many thanks Mrs D
Many thanks SXGuy
I would be lost without AAD

[MrsD]

Re: Greymatter's ue Diary

och you would be fine, but we ain't going anywhere so no worrying

[greymatter]

Re: Greymatter's ue Diary

Hi Niddy
Old NatWest Credit Card
(This is one that you considered at the time to be enforceable due to the age of the debt)
I would really appreciate some advice here.I have an old (pre 1985) Axes balance and have been paying an agreed amount off each month.This has been raised before on AAD regarding UE or not.Unfortunately as its prior 1985 It appeared at the time of asking to be enforceable.
I want to get this account finished, as they have asked for an up to date financial position ,so that they can consider my payment options.
I can make an offer of about 45%(Balance is £9k. I would like to consider the template 'Test the Water' .I really don't want to start re issuing financial statements as this has been going on for to many years .Or should I stick it to them and go for UE as they definitely have not got the paperwork.
Thanks Niddy

[PlanB]

Re: Greymatter's ue Diary

Old NatWest Credit Card

I want to get this account finished, as they have asked for an up to date financial position ,so that they can consider my payment options.

. . . .I really don't want to start re issuing financial statements as this has been going on for to many years

Did they ask nicely for an update of your finances or were they threatening you with anything?

I presume NatWest isn't charging you any interest on this debt so why the haste to pay them off sooner rather than later?

PlanB x

[greymatter]

Re: Greymatter's ue Diary

Hi
No theres no pressure but its their review time and if I start filling out an I & E sheet they will start to ask for lots more payment.I really don't want to get into that.I used to send one every year but things have improved and I do not want to go down that route.
So its a bit catch 22.If it were UE then I would not be concerned.
GM

[greymatter]

Re: Greymatter's ue Diary

Hi PlanB
I will update when I get a response from them.
Thanks anyway for your input

[greymatter]

Re: Greymatter's ue Diary

Hi PlanB and Niddy
I need some advice here.I have had response to my offer and they want basic chapter and verse of I&E figures to be supplied.My circumstances have improved since this particular Debt came into the fold.My mortgage has just finished and the remainder of my CC's are at the moment UE(as per Niddy+AAD).What is the best approach for me in this as initially this debt was discussed in AAD and due to its date (Pre 1985) it was therefore outside of the UE net.Should I go for this again and hope for a sell off to a DCA .If this was a later debt it would be UE so I would really value yours and AAD members advice on this matter.
Thanks
GM

[MrsD]

Re: Greymatter's ue Diary

I wouldn't be pandering to them like this. I am presuming you pay by standing order, change the standing order, end of

[greymatter]

Re: Greymatter's ue Diary

Thanks MrsD
I am paying a less than £10 pm s/o does a £2 uplift sound about right.Incidently every six months they always ask fort a new IE .Do I need to keep this up ,as once before,they threatened me with adding interest if I did not comply! Are they legally allowed to request and receive this info ?
Naturally I am concerned that they can press for more detail and after this period of time and having been defaulted about mid 2003.Have been on reduced payments since.A real pain in the ***e
GM

[PlanB]

Re: Greymatter's ue Diary

I have had response to my offer and they want basic chapter and verse of I&E figures to be supplied.My circumstances have improved since this particular Debt came into the fold.My mortgage has just finished and the remainder of my CC's are at the moment UE(as per Niddy+AAD).What is the best approach for me in this as initially this debt was discussed in AAD and due to its date (Pre 1985) it was therefore outside of the UE net.Should I go for this again and hope for a sell off to a DCA .

What was your offer? Was it a F & F (you've suggested that in an earlier post) or an offer of an extra £2 per month payment which they've rejected until they see your I & E?

I remember our debate about your old Access card but I can't find your thread. It would be good to look back to see if you have another stick to beat them with even if it isn't UE due to pre-1985 start date (did we firmly establish that at the time?). If it wasn't a separate thread can you quote the post number where the conversation began on this thread please.

Well done for finishing your mortgage. I completely understand your wish to sort this one so you can begin to move on and enjoy your money instead of handing it over to a lowlife bank.

Can you actually afford to pay a F & F if you decide to go down that route? Alternatively you can treat the outstanding balance as an interest free loan for the next couple of decades.

You've mentioned the bank's threat of adding interest if you don't play ball. I didn't think they could do that if the account has been defaulted.

[greymatter]

Re: Greymatter's ue Diary

Hi PlanB
They initially sent me a letter (reported here on AAD)they wanted me to contact them with a new payment proposal etc.
My offer was 45% F&F and I could raise the money ,with a struggle.
The £2 extra was what I thought would be a reasonable uplift on my current S/O,it has not been put forward yet as I am awaiting AAD advice .
I know that there was one AAD member with a similar very old CC and at the "line" the Company conceded.as UE.However Niddy did point out to me that this case was different to that of mine.One point though,Niddy considered that the default notice was invalid but would wait for Pauls view.I think Paul was terribly busy at the time and I did not get his input.
However PlanB the first thread started at Post number100.within my total posts.
Incidently treating it as an interest free loan for the next few decades is a nice way for me to look at it,providing I don't have to increase my payments at each and every request!
Looking forward to your thought PlanB.
Many thanks.

[greymatter]

Re: Greymatter's ue Diary

Hi PlanB any thoughts yet?

[PlanB]

Re: Greymatter's ue Diary

Hi PlanB any thoughts yet?

Can you clarify some things because I'm probably being a bit daft.

You've made a F & F offer of about half the debt (£4k ?) which they have rejected.

Instead they now want you to fill in an I & E before agreeing to continue with your Arrangement to Pay of £10 per month.

Do they realize that even an increase to £12 would take 70 years to clear the debt? Have they not heard of 'a bird in the hand is worth two in the bush'?

You own your home mortgage-free so you don't want a CCJ or a CO. It's still with NatWest the OC who for some reason have decided not to sell you on to a debt purchaser even though you're not exactly generating them a fortune as a customer. It probably costs them more to process your account every six months.

I'm not sure why you want to settle this interest free loan 70 years early

The only thing I can sense is that you fear filling in an I & E Form in case it may encourage them to raise the monthly amount when they see your circumstances have improved. It probably will. And you can't lie on the form, but you can be generous towards yourself when it comes to expressing your financial needs

[greymatter]

Re: Greymatter's ue Diary

Many thanks PlanB
I was initially requested to let them have a new payment proposal.I wrote back stating that I could make a F&F offer as my monthly payment will take as you say,some 70 years or so.
Their response was :'please submit a I&E for their consideration'.
I agree ,I can't lie on the form but possibly be economical with the facts maybe!
However if I now increase my monthly payment by £2 it's possible that they will still need an I&E. I just want to rid myself of this debt.
Should I go for the increase and sit tight for now and look at this as an interest free debt?

[greymatter]

Re: Greymatter's ue Diary

They are not as yet aware of my possible offer to increase the monthly payments.
So,maybe I will reply with an increase monthly offer as I suggested, making the point that as of now the possibility of a lump sum has been withdrawn,at least for the time being.
Should I still issue them with my own I&E anyway,or not.Am I legally obliged to.Could they threaten me with Court action?
I value your input here PlanB
Thank you.