Full and final settlement help thread

Coinmachine

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.

YES YES YES YES YES!!!!! They have accepted my £300 offer for full and final settlement:j

sourcrates

moneyangel22 wrote: »

Thank you fatbelly.


Do you know how successful write-off requests are please?


I would love to be able to pay off all my debts but realistically....I did not know I was going to get ill and not be able to work again when I got into debt and the idea of it hanging over us for probably the rest of our lives unless we come into money depresses me.
I think I will look into this, although knowing they probably won't do it. I will look at your link about settlements and take some hope from that, although I know that is going to be another difficulty trying to raise the money. Many thanks

Some people have had great success in getting debts written off.

You really have to write and explain your situation, include as much detail as possible, they can't take what you don't have can they.

Debts do not hang around for ever, after 6 years of non payment, the limitations act would come into play.

DrWatson1

So nearly 3 weeks ago I CCA'd my creditors, and so far I've had 3 responses. Two have contacted the original creditor asking for this information.

However, one of them (Westcot) has sent my letter and PO back asking me to contact the original creditor directly (RBoS).

Surely if they are the ones managing the debt, the onus is on them to chase this up, as the other creditors have?

What's my next move? I'm of a mind to write back and tell them if they don't obtain the information, then i'll consider this a refusal to provide it and I'll act accordingly.

National_Debtline

Hi Dr Watson


It sounds as if Wescot are not as motivated about recovering the money as other creditors. If they themselves had a copy of the CCA agreement it would be in their interests to share it with you. What information (if any) RBoS still have remains to be seen but they would normally pass any relevant paperwork on when reassigning the account to a debt collector. Wescot would also normally inherit any responsibilities from the original creditor to comply with requests for information, so this does sound like a case of buck-passing to me.


Dennis
@natdebtline

fatbelly

Coinmachine wrote: »

YES YES YES YES YES!!!!! They have accepted my £300 offer for full and final settlement:j

24% - well done

an encouragement to others

DrWatson1

National_Debtline wrote: »

Hi Dr Watson


It sounds as if Wescot are not as motivated about recovering the money as other creditors. If they themselves had a copy of the CCA agreement it would be in their interests to share it with you. What information (if any) RBoS still have remains to be seen but they would normally pass any relevant paperwork on when reassigning the account to a debt collector. Wescot would also normally inherit any responsibilities from the original creditor to comply with requests for information, so this does sound like a case of buck-passing to me.


Dennis
@natdebtline

Okay, thanks - would you suggest writing back to them and stating if they do not provide the information, then I'll proceed as if they are unable or unwilling to provide it?

anna_1977

Coinmachine wrote: »

YES YES YES YES YES!!!!! They have accepted my £300 offer for full and final settlement:j

I've got 2 santander debts that I am in a position to offer F&F to in the next couple of months.

Great to hear they might be open to a settlement

Coinmachine

anna_1977 wrote: »

I've got 2 santander debts that I am in a position to offer F&F to in the next couple of months.

Great to hear they might be open to a settlement

Good luck hope it works out for you, if you want a copy of what I sent feel free to PM me

snowbean

DrWatson1 wrote: »

So nearly 3 weeks ago I CCA'd my creditors, and so far I've had 3 responses. Two have contacted the original creditor asking for this information.

However, one of them (Westcot) has sent my letter and PO back asking me to contact the original creditor directly (RBoS).

Surely if they are the ones managing the debt, the onus is on them to chase this up, as the other creditors have?

What's my next move? I'm of a mind to write back and tell them if they don't obtain the information, then i'll consider this a refusal to provide it and I'll act accordingly.

Oddly enough, I just came on to ask the same question. I received a reply like this from Wescot today, regarding a nw card. I think they are only 'acting on behalf of' NW, but even so, I would have thought that would entail replying to cca requests?!

The other cca request I sent, was to PRA (regarding BC debt). They've replied saying they're asking the original creditor for details (but have stated the original creditor as mbna). How long do they have to get back to me now? On the same day, I also received a reply declining my 20% offer, and counter-offering me 80%.

Daisypop

Hi all
Sent off 4 cca requests, got one back from Cabot which was original signed agreement so no joy there. However received a reply from Link financial saying have requested from original creditor and could take up to 30 days to get but 30 days was up on 30 August. What do I do with this one?

The other 2 are with 1st credit who have said the same that need to request from original creditors but could take several weeks. This was at the end of July. They have said they will suspend collection until they have those.
So do I just not pay those 3 as I'm with Stepchange until they send the required information? Is it likely that they cannot retrieve it as I thought I would have had a response by now?
Thanks in advance for any replies.