Full & Final - Telephone Query

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sgx.saint
sgx.saint Posts: 1,615 Forumite
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in Debt-free wannabe
Hey.

Quick and silly question, asking really for a sense check.

I have offered F&F to a few creditors, one has emailed with a counter offer and asked me to call them.

I understand that before proceeding with F&F that everything should be recorded and kept in writing to protect myself from any future comeback.

However, is there anything actually wrong with calling these companies agreeing a F&F figure over the phone, but not proceeding until the offer is received in writing?
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  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    nope not at all, did so myself. just dont pay unless you get it in writing
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
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    glentoran99 wrote: »
    nope not at all, did so myself. just dont pay unless you get it in writing

    Thanks, that's what I thought, I am not going to pay a single penny until I have it in writing.

    Out of interest, what happened when you called?

    Each of the three creditors I am considering calling have received an F&F letter from me.

    One hasn't replied, one is asking for a breakdown of my income and expenditure (which they already have) and one has counter offered and I intend to counter their offer.
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    sgx.saint wrote: »
    Thanks, that's what I thought, I am not going to pay a single penny until I have it in writing.

    Out of interest, what happened when you called?

    Each of the three creditors I am considering calling have received an F&F letter from me.

    One hasn't replied, one is asking for a breakdown of my income and expenditure (which they already have) and one has counter offered and I intend to counter their offer.

    they were quite pleasent, Only one i did by phone was halifax and i had to call a couple of times to get someone with a bit of sense as one told me they couldnt send me it in writing, when i eventually got someone they offered 80% I offered them less and we met in the middle at 70%
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
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    glentoran99 wrote: »
    they were quite pleasent, Only one i did by phone was halifax and i had to call a couple of times to get someone with a bit of sense as one told me they couldnt send me it in writing, when i eventually got someone they offered 80% I offered them less and we met in the middle at 70%

    Thanks for sharing.

    This debt is very old and was bought for pennies in the pound by the now debt owners so I have gone in with far lower offers.

    The money is only available for a short time, so I want to get this sorted quickly, which is why I am considering calling them to agree an amount and then getting it in writing.
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    sgx.saint wrote: »
    Thanks for sharing.

    This debt is very old and was bought for pennies in the pound by the now debt owners so I have gone in with far lower offers.

    The money is only available for a short time, so I want to get this sorted quickly, which is why I am considering calling them to agree an amount and then getting it in writing.

    I got another one settled for 25% via email
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
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    glentoran99 wrote: »
    I got another one settled for 25% via email

    Interesting, thanks.

    Which creditor was that, if you don't mind me asking?
  • sourcrates
    sourcrates Posts: 28,953 Ambassador
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    Whatever you decide to do, don't pay a penny until you have written conformation that what you offer them is in full and final settlement of the account, and you will not be chased by them, or there agents, for any remaining balance.
    If this sentence is not included, they can, and probably would, sell on the remaining balance, and the dance would start all over again.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    sgx.saint wrote: »
    Interesting, thanks.

    Which creditor was that, if you don't mind me asking?

    Bank of Ireland With BCW (gothia) acting on their behalf.

    Also negotiated with Aktiv Capital via email
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
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    Thanks for the replies. No payment will be made until I receive confirmation of the agreement in writing.

    I just want to speed up the process as these three creditors are painfully slow in responding to both letters and email.
  • harveybobbles
    harveybobbles Posts: 8,973 Forumite
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    Are the debts on your credit file?

    discounts usually mean something isnt right ie no paperwork, old debt, tons of PPi to claw back.
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