CarVal / Stapleford - settlement offers

P Powe

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Has anyone any experience of dealing with CarVal? Pepper are managing a loan book. CarVal are starting to get very aggressive. I offered them a settlement of 15% of a 100k loan which I can raise from friends. They had no interest in settling, starting to talk legal. I have always made interest payments. They have no security on the loan. A judgment will get them nothing as I am borderline insolvent. Has anyone experience of dealing with them?
 
In my view you should write to them and tell them you can't afford to make any more interest payments. Let them do what they wish. They may be glad to get 15% after a time.
 
P Powe,

Carval don,t know you are border line insolvent, you don,t need the hassle of any potential judgment against you .
They have no security ,but they will rightly fish to see have you anything now or in future.
Suggest write the letter to them , re-explain you have little and ask their help in proving your poor situation and that you want to get closure, the only way you can get closure as you see it , is to get k15 from friends.

(If you are insolvent, by paying interest every month you just keep it going, and I presume you want to get closure)
 
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