sostress UE diary

[sostress]

Re: sostress UE diary

You will be fine, I expected absolutely loads of hassle when we stopped paying our creditors after being on a DMP with them for 2 1/2 years. We started UE in April of this year, and it hasn't been half as bad as I thought it was going to be. If you just follow Niddy's advice to the letter, and also read up as much as you can on the other UE diaries, you will see that pretty much everyone is going through the same process, and getting the same letters from creditors.

Good luck

:hello Elsie 52! Thanks for your kind words. I really am grateful for this forum, it have provided a kind of safety barrier and I can sleep without waking up in sweat.

Thanks so much for all your time and advices, Niddy, mods and everyone that's read my diary.

[sostress]

Re: sostress UE diary

Hi sos - as Elsie says, don't worry - however do not make any F&F offers right now, hold fire......

Its always best to let them default you and sell it to a DCA prior to making any offers, if this has already occurred then fine - continue to ignore them for the moment (the enforceable ones) - no harm in blagging them. k

Keep us updated please ;Spank

Hello Niddy!

Sorry for not updating ^^

Yes, they are all defaulted except Barclaycard :cry

CAHOOT LOAN

Started :26/06/06
Balance : 5662
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 18/10/07
Send CCA and Niddy said he's unsure about this one as it is a flexible loan cum fixed term loan and as such there is no clear limit, yet all loans should contain the relevant prescribed terms - the main one in question is for fixed sum loans (e.g. bank loans, hire purchase agreements) the agreement must contain "A term stating the amount of the credit". In any case, lets presume that it is UE and see what they come back with. :confusing


AMERICAN EXPRESS
Started :08/12/05
Balance : 6819
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 05/05/07
Send CCA and Niddy confirmed


EGG LOAN
Started :04/05/05
Balance : 19,037
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 05/01/07
Send CCA and Niddy said this is also - basically there is no separate box showing PPi - renders the agreement unenforceable


EGG CARD

Started :10/06/04
Balance : 3811
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 22/01/07
Send CCA and Niddy confirmed


NORTHERN ROCK

Started :27/07/04
Balance : 3015
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 16/03/09
Send CCA and Niddy confirmed


LINK(MBNA VIRGIN)

Started :16/06/05
Balance : 4430
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 29/06/07
Send CCA and Niddy confirmed


MBNA
Started :19/01/04
Balance : 11,582
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 30/06/09
Send CCA and Niddy said the prescribed terms are shown on the application, so another one that is enforceable which should be blagged! :cry


MINT

Started :24/03/04
Balance : 8250
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 04/01/07
Send CCA and Niddy said its an application form with no prescribed terms so again,


BARCLAYCARD
Started :11/06/03
Balance : 5075
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: SATISFACTORY
Send CCA and Niddy confirmed

Basically, I was paying DMP since 11/06/03 and now have stopped paying since September 2010 taking advice from Niddy. I am now at the stage of waiting for the creditors to contact me and I am hoping to offer F&F settlements to get them out of my hair.
As I've only missed 2 payments, its still calm at the moment......waiting for the battle to start

Thanks you all for reading my dairy

[Never-In-Doubt]

Re: sostress UE diary

Hiya

Thanks for the update - let us know if anything changes or you get any replies....

gh

[sostress]

Re: sostress UE diary

Summary,

Ok, as you can see from my responses above - you have a few enforceable and a few unenforceable accounts. The fact you've given no details other than "send CCA" it is hard to determine what you've done to date and where you're at, so to speak.

Therefore dealing with this 'blind' i'm presuming that you last dealt with these guys over a year ago as most the paperwork is dated from 2009? If that is the case then i'd continue to ignore them, and cease all repayments and wait until they start contacting you again.

However, as you've stated that you're looking to make F&F Offers in exchange for default removal, stopping payments and/or fighting for UE may not be the best way forward. So really you need to sit back and have a long hard think about what you're wanting to do next.

The accounts that were defaulted back in 2007, the default will be gone by 2013 regardless of whether you pay or not. The more recent ones, similarly will last for 6yrs from the date of default.

To be frank, if I were you i'd stop all payments and wait for the lenders/dca's to come to you and then look to settle with F&F settlements if you can afford to? The best way to do this is to let the account default and get sold to a DCA who will accept better deals, the lenders often do not.

Its a catch 22 really, you'll be stuck with the defaults though - the lenders/DCA's will not remove them, they simply cannot cos it would set a presedent and we'd all stop paying our debts, let it default, make a silly offer then get the default wiped.... so they never ever agree to such, unless the DN was improperly executed - those of yours i've seen to date are all ok, I do check this as part of the agreement checks being you attached them.

So it's up to you what you do next but i've detailed in each response what I would do - it's up to you though, how you proceed. Where i've said respond with this and provided a template to respond, you'd not just send that out the blue (assuming no contact for a year) - you'd wait til they write to you and then respond with it. Also, have you already been to a Claims Management Company or the likes? Some of the responses suggest someone has tried to be clever quoting all sorts of nonsense..... not the sort of things i'd fight for; not only because whoever done it was wrong, but because it's wasting your time and my time.

Best of luck, you need to answer my questions if you can and also consider your next move - whatever you do though, do not jump in and start sending templayes without giving me an update!

Niddy

;Hi1 Niddy!

Thanks for your time.
Nope, I didn't send any letters as you advised to stop payments and wait for them to contact me as I am planning to offer F&F settlement offer.

:hello Niddy and everyone!

Been receving letters from some of the creditors/DCAs chasing payments since I've stopped paying my DMP.
Is it time to use the template to make my f&f settlement to them yet?

Thanks sostress

[Never-In-Doubt]

Re: sostress UE diary

hello Niddy and everyone!

Been receving letters from some of the creditors/DCAs chasing payments since I've stopped paying my DMP.
Is it time to use the template to make my f&f settlement to them yet?

Thanks sostress

Hiya Stranger ya

Can you list the accounts, the amounts owed and the amount you want to offer so we can check what you're doing please? Best get it right, first time eh? Then i'll have some questions, then it'll be time to proceed with *some* offers......

Hope you're keeping well and de-stressed nah

[sostress]

Re: sostress UE diary

:-h Niddy!

Ok, I am going to gather all my paper work, find the balance of each account and I'll list here for your advice. :-bd

Hope you're keeping well and de-stressed nah

Hey Niddy, my stress have not started yet As its been calm because the creditors doesn't know I've choosen the UE route But thanks for asking

[Never-In-Doubt]

Re: sostress UE diary

Okies, thanks

[sostress]

Re: sostress UE diary

Hi sos - as Elsie says, don't worry - however do not make any F&F offers right now, hold fire......

Its always best to let them default you and sell it to a DCA prior to making any offers, if this has already occurred then fine - continue to ignore them for the moment (the enforceable ones) - no harm in blagging them. k

Keep us updated please ;Spank

Hello Niddy!

Sorry for not updating ^^

Yes, they are all defaulted except Barclaycard :cry

CAHOOT LOAN

Started :26/06/06
Balance : 5662
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 18/10/07
Send CCA and Niddy said he's unsure about this one as it is a flexible loan cum fixed term loan and as such there is no clear limit, yet all loans should contain the relevant prescribed terms - the main one in question is for fixed sum loans (e.g. bank loans, hire purchase agreements) the agreement must contain "A term stating the amount of the credit". In any case, lets presume that it is UE and see what they come back with. :confusing


AMERICAN EXPRESS
Started :08/12/05
Balance : 6792
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 05/05/07
Send CCA and Niddy confirmed


EGG LOAN
Started :04/05/05
Balance : 19,021
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 05/01/07
Send CCA and Niddy said this is also - basically there is no separate box showing PPi - renders the agreement unenforceable


EGG CARD

Started :10/06/04
Balance : 3803
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 22/01/07
Send CCA and Niddy confirmed


NORTHERN ROCK

Started :27/07/04
Balance : 3009
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 16/03/09
Send CCA and Niddy confirmed


LINK(MBNA VIRGIN)

Started :16/06/05
Balance : 4420
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 29/06/07
Send CCA and Niddy confirmed


MBNA
Started :19/01/04
Balance : 11582
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 30/06/09
Send CCA and Niddy said the prescribed terms are shown on the application, so another one that is enforceable which should be blagged! :cry


MINT

Started :24/03/04
Balance : 8233
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: DEFAULTED 04/01/07
Send CCA and Niddy said its an application form with no prescribed terms so again,


BARCLAYCARD
Started :11/06/03
Balance : 5092
date last paid (full amount): OCT 06
Date last paid (DMP):28/09/10
Status: SATISFACTORY
Send CCA and Niddy confirmed

Basically, I was paying DMP since 11/06/03 and now have stopped paying since September 2010 taking advice from Niddy. I am now at the stage of waiting for the creditors to contact me and I am hoping to offer F&F settlements to get them out of my hair.
As I've only missed 2 payments, its still calm at the moment......waiting for the battle to start

Thanks you all for reading my dairy

:hello Niddy and All!

Here goes, I've managed to find the outstanding balance to all creditors. I am planning to start my offer from 10% and see how it goes.

Can you please advice which f&f settlement offer template I should use Niddy? Thanks in advance.

I've updated the balance in red so that its not going to be confusing and you can also see which one is and
I've quoted the last messages so that you know where we lefted off as I know you are a busy person. Hope I've not confuse you. ;D

sostress

hello Niddy and everyone!

Been receving letters from some of the creditors/DCAs chasing payments since I've stopped paying my DMP.
Is it time to use the template to make my f&f settlement to them yet?

Thanks sostress

Hiya Stranger ya

Can you list the accounts, the amounts owed and the amount you want to offer so we can check what you're doing please? Best get it right, first time eh? Then i'll have some questions, then it'll be time to proceed with *some* offers......

Hope you're keeping well and de-stressed nah

[Never-In-Doubt]

Re: sostress UE diary

Hiya

Ok, the template to use is here: ---> viewtopic.php?p=10275#p10275 However i've done the relevant ones for you to use, as shown below.

Best of luck, keep us updated!

Egg Card - Balance = £3,803 @ £750 Offer

Dear Sirs,

Account No: XXXXXXXX

I write with reference to previous communication regarding an outstanding balance on the above mentioned account and wish to make an offer to resolve that will suitably please both parties.

I can confirm that I am unable to offer to pay the money which I owe in full, however I am able to raise £750 and wish to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability. I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full. Payment can be made within 28 days of receiving your written agreement of this offer and confirmed preferred method of payment.

Failure to agree will result in my formal offer of £1 per month being made as I simply cannot afford anything more than this. Taking 'formal' action to recover the balance would also be considered rather fruitless being I do not have any disposable income whatsoever; ergo my offer to you today.

I look forward to your response.

Yours faithfully

--------------------------------------------------------------------------

Northern Rock - Balance = £3,009 @ £650 Offer

Dear Sirs,

Account No: XXXXXXXX

I write with reference to previous communication regarding an outstanding balance on the above mentioned account and wish to make an offer to resolve that will suitably please both parties.

I can confirm that I am unable to offer to pay the money which I owe in full, however I am able to raise £650 and wish to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability. I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full. Payment can be made within 28 days of receiving your written agreement of this offer and confirmed preferred method of payment.

Failure to agree will result in my formal offer of £1 per month being made as I simply cannot afford anything more than this. Taking 'formal' action to recover the balance would also be considered rather fruitless being I do not have any disposable income whatsoever; ergo my offer to you today.

I look forward to your response.

Yours faithfully

--------------------------------------------------------------------------

MBNA Card - Balance = £11,582 @ £1500 Offer

Dear Sirs,

Account No: XXXXXXXX

I write with reference to previous communication regarding an outstanding balance on the above mentioned account and wish to make an offer to resolve that will suitably please both parties.

I can confirm that I am unable to offer to pay the money which I owe in full, however I am able to raise £1500 and wish to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability. I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full. Payment can be made within 28 days of receiving your written agreement of this offer and confirmed preferred method of payment.

Failure to agree will result in my formal offer of £1 per month being made as I simply cannot afford anything more than this. Taking 'formal' action to recover the balance would also be considered rather fruitless being I do not have any disposable income whatsoever; ergo my offer to you today.

I look forward to your response.

Yours faithfully

Going on from the above, this would mean you'd need to find the funds to make such offers - this totals £2,900; do you have this to spare? If not, why not just arrange to pay a monthly amount? Obviously it is hard to properly assess cos you're so vague about what you can do, what you want to do, why you want to make offers, why you can't 'blag' things, how much you can afford, details of the debts and their respective owners etc etc - just pointing out that if it was me, i'd try and blag all of them and wait til the shit really hits the fan before jumping in with offers cos although an account may be unenforceable, they may try their luck and threaten court - then what? If you've used all your spare funds to pay debts that are smaller, meaning they may not have gone to court anyway...?

Hope the above helps and makes sense, if not then don't send anything, instead post a reply.

* Remember do not sign any of these offer letters by hand, continue to sign digitally **

[bobogosing]

Re: sostress UE diary

oops!

[sostress]

Re: sostress UE diary

Thanks Niddy

Will keep you all updated x

[Never-In-Doubt]

Re: sostress UE diary

Thanks Niddy

Will keep you all updated x

Okies, best of luck! gh

[Never-In-Doubt]

Re: sostress UE diary

oops!

ooops, what? lol :confusing

[sostress]

Re: sostress UE diary

ya NIDDY AND EVERYONE!

Update of my latest.

Send all settlement offer letters adviced by Niddy on 16/12/10.
Will let you all know what happens.........keeping my fingers crossed

[billypre]

Re: sostress UE diary

Best of luck sostress, hope its good news.