Full and final settlement help thread

pip10

glentoran99 wrote: »

I would be concerned if the offers aren't accepted will they send you the money back or will ot just be put towards debts, much better off contacting creditors yourself and telling them the money is a gift and only available if it clears the debt

I asked that - the only qu I asked! If not accepted, they said it would be returned

Butterfly46

Hi, in answer to your query about Stepchange requesting money for Full & Final Settlement offers upfront, I can confirm that this is normal practice! I paid an amount (provided to me by a relative) upfront. Stepchange negotiated on my behalf and all but two of my creditors accepted an offer of around 40%! The money which was left over was refunded to me & then I refunded my relative. The two creditors who would not budge are now getting a token payment of £1 per month each, until my situation improves. I hope this helps and you get your debts sorted soon! :j

pip10

Thanks Butterfly. Did you just pay it over or was there some sort of written agreement put in place about what it was for?

sourcrates

pip10 wrote: »

Thanks Butterfly. Did you just pay it over or was there some sort of written agreement put in place about what it was for?

Much better doing it yourself using the correct National Debt Line template letter :

https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx

If it dosent have the correct legal wording, then creditors can still chase you for the remaining balance.

whambam

Hi,

These debt collection agencies are operating illegally and fraudulently as they have no contract signed by the person. They have bought your debt for 1-20p in the pound and selling it back to you for the 50% off as a discount its a scam you don't need to pay them anything.

See Ca3 Made Simple - Getting you out of Debt for Free Russell Burton on youtube.

fatbelly

whambam wrote: »

Hi,

These debt collection agencies are operating illegally and fraudulently as they have no contract signed by the person. They have bought your debt for 1-20p in the pound and selling it back to you for the 50% off as a discount its a scam you don't need to pay them anything.

See Ca3 Made Simple - Getting you out of Debt for Free Russell Burton on youtube.

No court would substantiate your position on that

whambam

Under common law if there is no contract there is no debt they are a 3rd party collection agency who have no rights over you. Your debt was with the original bank or loan company who sold your debt off therefor the DCA have paid off 95% of your debt already and now asking you for money!

They are empty threats for you to pay up or go to court or seize your goods they are not allowed in your house they can be sued for trespassing and fined for how much you want to charge them.

sourcrates

whambam wrote: »

Under common law if there is no contract there is no debt they are a 3rd party collection agency who have no rights over you. Your debt was with the original bank or loan company who sold your debt off therefor the DCA have paid off 95% of your debt already and now asking you for money!

Nice theory, but already tested, and defeated in court.

The law as it stands, however unpalatable, allows the buying and selling of delinquent debt for profit.

whambam

thats if it gets to court which companies can't be bothered why don't the bank take you to court they just take the money off the DCA and pass it on. The whole banking system is fraudulent.

There is the mighty Lloyds announcing thousands more job cuts and 200 branches closing WHY you ask because the banking system is built on lies and deceit and printing money out of thin air for our labour energy to be used to pay them.

Butterfly46

pip10 wrote: »

Thanks Butterfly. Did you just pay it over or was there some sort of written agreement put in place about what it was for?

Had a few emails from Stepchange, they then gave me their bank details, then I arranged bank transfer to them. It was all very straightforward, with no problems (apart from the two creditors who would not budge!). I think Stepchange look at your debts and then they decide how much to offer the creditor, I think I was extremely lucky, I had huge amounts written off! The funny thing is the two that wouldn't accept/budge were two of the smallest debts (stupid people!!). They can wait now! :rotfl: Talk to Stepchange, they are very helpful!