Early settlement figure on a loan

A question about : Early settlement figure on a loan

I am in default with a loan, and was in default at the time of requesting an early settlement figure for this loan (in default by about 2 years)

I had the option of paying this amount off at the time, but obviously couldn't afford to.

My confusion is that ever since, they've been chasing me for the amount including the interest. Can I dispute this amount? I have the letter with the figures on at the time, which I could send them a copy of.

It was basically 10% off the loan (interest).

Thanks

Best answers:

• That's still not making too much sense, can you elaborate a bit?
• Sure .
  I defaulted on my loan in 2010.
  In 2012 I contacted the creditor to see how much it would cost me to pay it off.
  They quoted me Јxxxx which showed the total I would pay if I didnt settle early, and the total I would pay if I did (removing front loaded interest)
  I didnt settle early and kept on making reduced payments.
  All correspondence sent to me by the creditor has the full amount (including the front loaded interest).
  I want to know if I can get the interest removed from what I owe, or if I am stuck with it, basically.
• Going from that, if you are after a reduced settlement figure / f&f, I would just treat it as simply as that. You're never technically stuck with anything, it's always open to negotiation.....
• debt is with the original creditor, no CCA has been made available after the request.
  DCA has been acting on behalf of the original creditor.
• So what's your aim. Do you want to use the failure to comply to get leverage on a reduced settlement?
  I posted in your other cca thread........
• yes . I want to get these from under my feet as while I have them they're a burden I do not need or want, and just want to wipe the slate clean and rebuild sensibly
• So who's the oc and dca?
  It won't hurt to name them....
• NRAM Mackenzie Hall
  NRAM Marlin
  HSBC Marlin
• Well neither Marlin or Mucky Hall are too clever! Marlin have been bought by Cabot.
  Depends which way you want to go with the cca route.
  Either - use as a tool for a reduced f&f, or use the dispute to stop payments and wait out the debt becoming statute barred. In the latter, you'll always be open to litigation whether they have the agreement or not, and you'd have to defend any action properly if it came to it.
• I'd be much happier with a much reduced F&F to be honest.
• Ok,
  This applies to your other thread as well. Send this to those who have not supplied a cca or answered.....
  This is a formal request under the Consumer Protection From Unfair Trading Regulations (CPUTR) 2008.
  I require your organisation / client to provide written confirmation that states clearly whether they currently hold an original signed Consumer Credit Agreement, or whether they do not hold an original signed Consumer Credit Agreement pertaining to myself.
  For the avoidance of doubt, an original signed Consumer Credit Agreement is just that; not an application for credit and not a reconstructed or microfiched document from other sources but indeed the original signed document purporting to be signed by myself.
  Please note that until such time as a legally enforceable, original Consumer Credit Agreement can be produced and a copy sent to me by return, then this letter is not an acknowledgement of debt and this account will remain in an unenforceable state protected in line with s.127 (CCA1974).
  Please also note that failure to provide a direct answer to this request will be brought before the court, should you decide to ignore the content of this request and to pursue enforcement action regardless.
  See what they come back with and go from there. Their answer, or lack of in some cases will decide the next move.
  I'll pop in on the thread now and then if you keep them updated.