Full and final settlement help thread

Mamamutz2 · 18 April 2015 at 6:20PM

Hiya sour,

I did say that to them, that my default had fallen off so would it show again, he referred to a n other and said yes it would show again on file as partial..

That really confused me...Doesnt take much!!

Im going to phone Robinson way tonight/tomorrow. Might as well, if they dont accept my offer then Ill send CCA requests for them and others remaining.

If they dare complain Ive paid Tesco off, itll be their fault for just being money grabbers. We could have settled.

Thank you sour and everyone on this site xxxx

Mamamutz2 · 18 April 2015 at 6:33PM

Robinson way is shut..Obviously dont need my money!
Will have to wait till Monday for them.

Hope everyone has a good weekend, love xx

Mamamutz2 · 20 April 2015 at 3:06PM

Robinson Way have declined my kind offer.

I owe £5800.00 ish approx on two debts. I offered £1300. They said they could only reduce by 20%. No leeway unless I did income and expenditure with them and they could refer on. Only did one 2 months ago with step change but "they havent had it".

Time to stop being lazy perhaps and CCA the ones left to see if that makes a difference.

Sigh....xx

Will update you all as and when I get any results.

nnop72 · 20 April 2015 at 4:36PM

Hi posted this a few weeks ago, but didn't get a response.

I have a couple of unsecured debts, which defaulted in 2011 and I have been making token payments on for the last couple of years due to lack of work, I was previously on a self-managed DMP.

one for £19000 (loan) - it is from 2009 and with RBS - I asked them to produce a CCA in 2011 and they were unable to do so.

another is for £9000 (credit card) and was sold on in 2013 to a third party. The creditor has the CCA.

In both cases the debts are in default from May 2011. I am in a position where I can offer £6k (21%) to try to settle these - do you think I have any chance of succeeding? Would I need to arrange this through a third party (eg CCCS) or can I make the offer directly?

sourcrates · 20 April 2015 at 4:59PM

nnop72 wrote: »

one for £19000 (loan) - it is from 2009 and with RBS - I asked them to produce a CCA in 2011 and they were unable to do so

Why would you want to pay this ?

They have no CCA, are you aware of what this means ? ? ?

It means it can't be enforced through the courts, so basically you can forget about it !!!!

Concentrate on the one they do have the paperwork for, the other you can ignore !!!

nnop72 · 20 April 2015 at 5:22PM

I had thought, perhaps wrongly, that as the debt was post 2007 that it was still in theory enforceable. As you suggest, I will focus on the other one.

sourcrates · 20 April 2015 at 5:34PM

nnop72 wrote: »

I had thought, perhaps wrongly, that as the debt was post 2007 that it was still in theory enforceable. As you suggest, I will focus on the other one.

No agreement means no debt essentialy, they can't just turn up at court and say so an so owes us x amount, pay us now, they have to have an agreement, or prove one existed, usually if they don't hold an agreement they will back off.

fatbelly · 20 April 2015 at 6:47PM

nnop72 wrote: »

Hi posted this a few weeks ago, but didn't get a response.

I have a couple of unsecured debts, which defaulted in 2011 and I have been making token payments on for the last couple of years due to lack of work, I was previously on a self-managed DMP.

one for £19000 (loan) - it is from 2009 and with RBS - I asked them to produce a CCA in 2011 and they were unable to do so.

another is for £9000 (credit card) and was sold on in 2013 to a third party. The creditor has the CCA.

In both cases the debts are in default from May 2011. I am in a position where I can offer £6k (21%) to try to settle these - do you think I have any chance of succeeding? Would I need to arrange this through a third party (eg CCCS) or can I make the offer directly?

If you made a formal s77-79 request (in writing, £1 payment) then any court action by the 19k creditor can be stayed until they comply with the request, which they can do by reconstructing the agreement.

You can of course make an offer direct to each creditor. I think it unlikely that they will accept 21% but it's a good starting point. And the more question marks you have over enforceability, the more likely you are to get a result.

You are correct that for post-2007 accounts the s127(3) argument does not apply as that section was removed from the 2006 CCA Act.

The OFT used to explain things as follows:

Often consumers and their advisors assume that if a signed copy is not provided by the creditor or owner, this necessarily means that the agreement cannot be enforced: either on the basis that section 77(1), 78(1) or 79(1) (as the case may be) has not been complied with, or in reliance on section 127(3) (in the case of agreements to which that subsection still applies). This overlooks the fact that there is no obligation on an information request to provide a copy which includes a copy of the signature. It also overlooks the fact that section 127(3) does not apply merely because a signed document is not available at the court hearing; the section requires that a document containing the prescribed terms 'was' signed by the debtor or hirer. The creditor or owner may be able to provide evidence that its practice was always to require a signature to its agreements and that its agreements always complied with section 61(1)(a) of the Act and the debtor or hirer may be unable to satisfy the court that he or she did not sign an agreement.

Space182 · 27 April 2015 at 6:00PM

Space182 wrote: »

I have 5 credit cards, 2 personal loans. I went onto a payment plan with the largest credit card, Nationwide (owing them £10,700). After 6 months (and when they were threatening a default notice) I made them an offer (over the phone) at 60% which they rejected, then 70% which they’ve accepted (again, over the phone). Before paying them I asked for a letter confirming that this is full and final settlement but they insist this they cannot do this. Instead, a confirmation letter will be sent out AFTER I've made the payment. They've also given me a deadline of today to pay the 70%. My questions, which I would be very grateful for answers to, are: -

1. Am I right to be sceptical of an offer they are not willing to put into writing?
2. Should I run the risk of losing this 70% offer by not paying today and request CCAs from all my creditors?
3. Presumably Nationwide wouldn’t now accept anything less than 70% as that’s what I said I could pay?
4. Can I make offers to all my creditors even if I am not on payment plans, DMPs or IVAs with any of them or should I show signs of not being able to afford the minimum payments before making offers?

Thank you all in advance for your guidance!!

Hi all,
I have received the following Nationwide response to a CCA request (thank you 'irishabroad' for your letter template above!) with regard to a £10,700 credit card debt: -

"I have investigated your enquiry and unfortunately we do not hold a copy of the Credit Card Agreement on our systems"

They have since written confirming they would accept 70% as full and final settlement as before they were only willing to confirm this over the phone!

1. As I've already told them (over the phone) that I have the money (borrowed from family) to pay 70%, do I have a chance if I write back and say I want to now reduce my offer to 40% as there's no CCA?

2. As there's no CCA should I simply pay £0 and ask them to close the account?

3. My final question now I've established they do not hold a CCA, can I still get a default notice if I agree to pay 70%, 40% or even 0% as there's no agreement in place?

Thanks again in advance

sourcrates · 27 April 2015 at 8:27PM

You can't be held liable to anything you say verbally over the phone, you should make your offer in writing, not verbally, you could lower your offer now due to them having no CCA.

They will not just close the account if you don't pay it, the debt still exists, and they will still ask you to pay it, it would be passed around different DCA's and you would have to fend them off each time.

If they wanted to be awkward, they could go to court and fight it out with you, most creditors do not do this if no CCA exists, it depends on the value of the debt, they may feel 11k is worth flexing there legal muscle for, it depends how far they are willing to chance there arm.

As far as I am aware you cant be defaulted, as there is no agreement in place to break the terms of.

Full and final settlement help thread

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