Full and final settlement help thread

flowerpotter_2

Hi Folks,

I have finally managed to get Simply Be to agree to a settlement! :beer: Not the best deal in the world at 80% but as the debt is under 1k I'm happy with that.

Coinmachine

I made my first offer of settlement £300 to Santander, the balance is currently £1239. They have not dismissed it out of hand but have written back asking for details of income and expenditure and that I have not made an offer to any other lenders. They also asked to confirm if my existing payment would continue should the offer not be accepted.

What do you think my chances are? DMP has 6 years to run.

fatbelly

Coinmachine wrote: »

I made my first offer of settlement £300 to Santander, the balance is currently £1239. They have not dismissed it out of hand but have written back asking for details of income and expenditure and that I have not made an offer to any other lenders. They also asked to confirm if my existing payment would continue should the offer not be accepted.

What do you think my chances are? DMP has 6 years to run.

moderately good.

make sure your income/expenditure is sensible and backs up your case.

Photogaz

If a loan has gone from a Default to a Partial Settlement, does the partial settlement then take 6 years to come off from the day it was paid or is it from the original Default date?

fatbelly

Photogaz wrote: »

If a loan has gone from a Default to a Partial Settlement, does the partial settlement then take 6 years to come off from the day it was paid or is it from the original Default date?

6 years from the default date

Little_Miss_Sunshine

zenshi wrote: »

How long since the CCA were sent? And that you haven't paid? Have they started pestering yet?

Reason I ask is I've not had a reply re CCA either yet from them but am loathe to rock the boat and stop paying as its a very small amount and they also hold my mortgage account.....

I've not heard anything for about 3 months. Apex started managing the debt so I sent the second reminder to them who said they would contact BOS. Heard nothing as yet.

marzom

So is there any problem in offering F&F settlement offers by email?

glentoran99

Nope that's how I did it

DrWatson1

sourcrates wrote: »

Ah ha, your chances of success have just expanded exponentially !!
Yes a CCA request is what you have described above, and with older debts especially, should be done as a matter of course.

Creditors are only obliged to keep paperwork 6 years, so the chances of them still having it 20 years later, is quiet slim, not impossible, but slim.

That should be your next move, send an official CCA request to each relevant debt, include a £1 postal order with each one, which is the statutory fee required by the consumer credit act, the National Debtline website has a very good template letter to use for this purpose.


If they cannot supply what there supposed to, for each account, then that account becomes, potentially unenforceable in court, so they would possibly be more open to a low offer to settle, or you could just stop paying and walk away.

Sit back and see what they come back to you with, post back if you need further advice, expect to wait up to 2 months for a proper response though.

Great post. I'm in a similar situation - my debts date back at least 10 and as much as 20 years. I'm in a position to start making a few cheeky offers for F&F settlement, and it appears this will greatly increase my leverage!

fatbelly

DrWatson1 wrote: »

Great post. I'm in a similar situation - my debts date back at least 10 and as much as 20 years. I'm in a position to start making a few cheeky offers for F&F settlement, and it appears this will greatly increase my leverage!

Exactly !