Full and final settlement help thread

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  • fatbelly
    fatbelly Posts: 20,499 Forumite
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    teleop wrote: »
    Hi folks , I sent off offers to Cabot for F&F. Which they refused the most they would take off was 10%. These 3 accounts have been with them now for 3 years. So I asked them to send me CCA that was a week ago. Today I have had a letter saying that it will take them 40 days to do this. Anyone else had similar reply. I thought they only had 12 days to send it in. Thanks in advance .��

    It's unenforceable until they comply

    If what comes back is a load of rubbish, that should strengthen your hand regarding the F&F deal.
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    teleop wrote: »
    Hi folks , I sent off offers to Cabot for F&F. Which they refused the most they would take off was 10%. These 3 accounts have been with them now for 3 years. So I asked them to send me CCA that was a week ago. Today I have had a letter saying that it will take them 40 days to do this. Anyone else had similar reply. I thought they only had 12 days to send it in. Thanks in advance .��

    That's because they have to go back to the original creditor for the paperwork.
    This can take a month or more, as Fatbelly says, until they reply, the debt will remain unenforceable.
    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
  • vantheotherman
    vantheotherman Posts: 5 Forumite
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    I wrote to Capital One two weeks ago offering full & final. I got no reply so I rang them and they accepted my offer (I insisted on a letter of confirmation). They said my account would be closed and marked 'partially settled' on my credit report. But they also said that the outstanding balance would show on my credit report. Is this normal? I thought it would say £0.
  • fatbelly
    fatbelly Posts: 20,499 Forumite
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    vantheotherman wrote: »
    I wrote to Capital One two weeks ago offering full & final. I got no reply so I rang them and they accepted my offer (I insisted on a letter of confirmation). They said my account would be closed and marked 'partially settled' on my credit report. But they also said that the outstanding balance would show on my credit report. Is this normal? I thought it would say £0.

    The balance should show as zero, correct.
  • vantheotherman
    vantheotherman Posts: 5 Forumite
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    What I mean is, they said the credit file would show the difference between the settlement figure and the amount owed (not zero)
  • glentoran99
    glentoran99 Posts: 5,821 Forumite
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    I was told that by 2 different creditors, it wasnt, I dont think they can and if they do you should be in a position to get it changed
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    An account is either settled, or not settled, there is no may be.
    There should be no more owing on it, and the balance should read "0".

    If they continue to show a balance, then you can raise a complaint, because its either one thing or another, it cannot be both.
    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
  • justtrying1981
    justtrying1981 Posts: 7 Forumite
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    Hello everyone. Ive been looking on here for along time. I have £7400 barclaycard debt which i pay £10 per month towards and have done for about 19 months. Ive been struggleing with this debt for 4 years now. I cannot afford anymore per month sadly :(. My question is barclaycard offerd me 50% off when speaking to them yesterday, currently mercers hold account. Ive had the card since 2004. My father may be able to help me abit but not 50% sadly. Do u think they may accept 20%.? They have never defaulted my account neither. Thank you all for your time. :)
  • fatbelly
    fatbelly Posts: 20,499 Forumite
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    justtrying1981 wrote: »
    Hello everyone. Ive been looking on here for along time. I have £7400 barclaycard debt which i pay £10 per month towards and have done for about 19 months. Ive been struggleing with this debt for 4 years now. I cannot afford anymore per month sadly :(. My question is barclaycard offerd me 50% off when speaking to them yesterday, currently mercers hold account. Ive had the card since 2004. My father may be able to help me abit but not 50% sadly. Do u think they may accept 20%.? They have never defaulted my account neither. Thank you all for your time. :)

    I doubt they would accept 20% but they may move down a bit from 50%.

    So put 20% to them in writing (and confirm that 50% offer back to them) and see if they move.
  • Bettingmad
    Bettingmad Posts: 715 Forumite
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    justtrying1981 wrote: »
    Hello everyone. Ive been looking on here for along time. I have £7400 barclaycard debt which i pay £10 per month towards and have done for about 19 months. Ive been struggleing with this debt for 4 years now. I cannot afford anymore per month sadly :(. My question is barclaycard offerd me 50% off when speaking to them yesterday, currently mercers hold account. Ive had the card since 2004. My father may be able to help me abit but not 50% sadly. Do u think they may accept 20%.? They have never defaulted my account neither. Thank you all for your time. :)

    As the account is from 2004 I would make a CCA request as it's highly unlikely they have the original agreement thereby making it uneforceable. This could significantly increase your bargaining power.
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