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Cap1 refused letter of offer
BASSETT
Posts: 146 Forumite
Have £308 balance on Capital One card, original balance was £200, the rest is charges, which is now in hands of DCA, which is Credit Solutions Ltd.
Sent off letter of offer for 50% and received letter today, saying my offer is unacceptable and does not fall within the guidelines of Capital One and I should reconsider my situation and then contact them.
What shall I send next?
Sent off letter of offer for 50% and received letter today, saying my offer is unacceptable and does not fall within the guidelines of Capital One and I should reconsider my situation and then contact them.
What shall I send next?
0
Comments
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Hi BASSETT
I presume this was a full and final offer that you made?
If so, and 50% is all you can afford to pay them - then I'd simply continue to make token payments that you can afford each month.
It maybe that if you write to them explaining that your circumstances only allow you to continue making small token payments - you could ask them to reconsider your offer in light of this information.
IIDT0 -
Yep, keep making the offer, every couple of months & make token payments in the meantime.
50% is more than they would get by selling the debt to a DCA.
I take it you offered 50% of £308 but even £100 is a reasonable starting point on this debt.
You could also ask for their 'guidelines' in writing. I don't think they exist. If you do get anything back, tell us what it says.0 -
Just make sure that you confirm that the offer is to be made 'In full and Final Settlement' of the debt and that it will not be paid until they confirm their acceptance, in writing, that it will, indeed, be accepted in FULL AND FINAL SETTLEMENT (accept no other wording). Read the following National Debtline link:
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offersI am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
Hi i hope you can help!
Im trying to get my debt with cap 1 deemed as unenforceable via a solicitor which monster claims linked me up with in March 2009 for a fee!
It is about to go to court, but my friend told me about this thread and that i can expect them to put a default on my account, what a nightmare, so im unsure as to wether to continue with this process or not.
Solicitor said it shouldn,t happen but it look like it is, also bamks are taking cases to the high court now so that can drag times out much longer so the risk mite be that im oaying minimum for years to come and would,ve owed more than i did, it,s so complex the devils in the detail!!!
Also if i go ahead with it can they sell my debt onto a third party and harras me then?
I look forward to you views. ta Cheryl0 -
cheryl champion you should start a new topic, than post in this one. Nonetheless if a CCA is unenforceable which you could have checked yourself for just £1, then if you raise the account in dispute they are not allowed to place a default, and if they do you can petition to have it removed. - Useful topic on CCAs here - http://forums.moneysavingexpert.com/showthread.html?t=2078599Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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