Full and final settlement help thread

bobdauilda

TapasKing wrote: »

I'm in almost the same position, with closer to 70% of the debt as a lump sum, but I haven't sent my F&F letters yet - I'm awaiting some timing/offer advice off here - let us know how you get on!

Do CCCS have their own DMP or is it through an independent company? Did you get the interest frozen? Did you have CCJs?

costaerer

just wanted to let you know i had a credit card outstanding of 667 with vanquis. sent them an offer of 180(obviously way to low) and they have offered me a full and final settlement of 338.

mcjordi

mbna settle at arounf 40- 50%

costaerer

out of all my credit cards only halifax would not accept full and final settlements.

lloyds tsb accepted 70%
vanquis 50%
barclaycard 70%

plus lloyds tsb loan of 5k they accepted 2.5k.....i basically have had the loan for over a year and only paid about 3 months repayments.

bluecandy5

Hi just wondered if anyone could help me? I have a dmp with 7 debts on it, but may have some money to offer a f&f but only on 1 of them. Is this worth doing for just 1 debt?

bluecandy5

*bump* for new posters

costaerer

i think it would be worth offering one company a f&f. maybe the one with the highest apr???

Jilli_2

I have a LloydsTSB credit card with a balance of £10,000. I have been trying over the past 2 weeks to make a full and final payment offering them £6,500 to clear the debt. When i spoke to someone a fortnight ago they gave me an address of LloydsTSB Consumer Debt Recovery to write to requesting a full and final settlement. Obviously, monthly payment date is looming with still nothing heard from them, so i rang them up. Was told that i shouldn't have written to them in the first place and was transferred to card services. After speaking to 3 different people i was told by 2 that i could request a full and final settlement but would need to speak to someone else and then by the final person who told me that LloydsTSB dont do that. Am totally confused and need help please!

captainhaggis

Jilli wrote: »

....and then by the final person who told me that LloydsTSB dont do that.

Utter rubbish. Even before I sent them my own offer they were telling me every time I spoke to them that they'd accept a reduced amount as F&F settlement. So they do do it.

I sent my F&F offer to the Debt Collections Centre, Lloyds TSB, Brighton, BN1 something.

Madison

Wondering whether to go for one of these and offer £4k as a F&F for £7,800 (various creditors). I'm paying £1k a month so they might think it's better to wait and get the lot back over the next 8 months.