DCA payment plan

A question about : DCA payment plan

Hi

I have been exchanging letters and emails with Lowell Financial for the past 3 months now for 2 debts worth around Ј2500. I have stuck to my guns offering very low figures but the biggest discount they will agree to for a full and final settlement is 20%. This leaves Ј2000 which is still unaffordable. They have also offered me the opportunity to pay in instalments still with the discount and stated that they will agree to any monthly figure I suggest. The defaults happened 5 years ago so will fall off my credit rating in 2 years. Based on this my question is:

If I paid a nominal monthly figure for 2 years and then stopped once the debt had been removed from my credit rating, could Lowell still lodge a JCA against me?

Thanks

Best answers:

• I just realised how waffly that was. Anyway, I guess what i'm asking is: If I begin paying instalments, will the debt still drop off my credit rating?
• Yes. The defaults and accounts would still drop off your credit file.
  However, Lowells could still go for a CCJ if you stopped paying. A CCj not paid within one month of it's judgement date would result in a separate CCJ entry in the public record of your report for a further 6 years.
• If taken out before April 2007, you could send a CCA request. Not for overdrafts though. If they don't have it, can't get a CCJ if defended and likely to settle for less.