Full and final settlement help thread

Twins

Sorry January, got my link through now and I'm really confused! I have red defaults every month since the following against the following:

Hoist since Oct 2016
Capital One since July 2011
Link March 2012
Sainsburys loan Nov 2011
Santander Nov 2011

Are all the defaults normal every month? I thought they only recorded them once you first started to miss the full payment? Eg when going on DMP?
I'm very concerned if this is right or not?

Thank you for helping!

January2015

Twins wrote: »

Sorry January, got my link through now and I'm really confused! I have red defaults every month since the following against the following:

Hoist since Oct 2016
Capital One since July 2011
Link March 2012
Sainsburys loan Nov 2011
Santander Nov 2011

Are all the defaults normal every month? I thought they only recorded them once you first started to miss the full payment? Eg when going on DMP?
I'm very concerned if this is right or not?

Thank you for helping!

Hi

Don't panic about the D markers for default on your report. There will be a default date - the date on which the default was recorded against your account. After that date, the record will be updated each month with a big red D to show it is defaulted.

All of your accounts are post 2008, so CCAs are likely to be compliant. As I said it's always worth asking for them.

sourcrates

Twins wrote: »

Sorry January, got my link through now and I'm really confused! I have red defaults every month since the following against the following:

Hoist since Oct 2016
Capital One since July 2011
Link March 2012
Sainsburys loan Nov 2011
Santander Nov 2011

Are all the defaults normal every month? I thought they only recorded them once you first started to miss the full payment? Eg when going on DMP?
I'm very concerned if this is right or not?

Thank you for helping!

They are just recording the accounts defaulted status every month.

It's perfectly normal.

Twins

Thank you January and Sourcrates, panic over about seeing those red D's all over the report, that makes sense now.

Sorry for all the questions but I'm wondering why Hoist has decided to default me in 2016. That original debt was with Tesco but no record of that, only with Hoist who have the latest default date of the lot which is rather annoying as all the others are 2011 or 2012. Is there anything I can do about that?

Thank you!!

sourcrates

Twins wrote: »

Thank you January and Sourcrates, panic over about seeing those red D's all over the report, that makes sense now.

Sorry for all the questions but I'm wondering why Hoist has decided to default me in 2016. That original debt was with Tesco but no record of that, only with Hoist who have the latest default date of the lot which is rather annoying as all the others are 2011 or 2012. Is there anything I can do about that?

Thank you!!

Yes write and complain that the account should of been defaulted earlier.

You may have to go back to Tesco for this, the guidelines state a default should be recorded after 3/6 missed payments, check your dates and adjust them to your situation.

MummyNeedsCoffee

I was in receipt of a one off payment equal to 40% of my entire debt. I spoke to each individually. So far Lowell accepted my 40% offer.
Wescott have offered 60%. (Original lender 'beat' their offer of 75%)
Robinson Way 70%.
Fredrickson 70%.
Capquest 90% (stingy b****)

Waiting to hear from original lenders through Robinson Way and Capquest, fingers crossed

All have been very approachable and nice to speak to and they have all been understanding of my difficult situation leading to these debts.

fatbelly

MummyNeedsCoffee wrote: »

I was in receipt of a one off payment equal to 40% of my entire debt. I spoke to each individually. So far Lowell accepted my 40% offer.
Wescott have offered 60%. (Original lender 'beat' their offer of 75%)
Robinson Way 70%.
Fredrickson 70%.
Capquest 90% (stingy b****)

Waiting to hear from original lenders through Robinson Way and Capquest, fingers crossed

All have been very approachable and nice to speak to and they have all been understanding of my difficult situation leading to these debts.

Good. You do need to bit a bit careful about who now owns the debt.

Wescot and Frederickson generally just act as a collector.

Capquest and Robinson Way (through Hoist, part of their group) could have bought the debts.

[Deleted User]

MummyNeedsCoffee wrote: »

I was in receipt of a one off payment equal to 40% of my entire debt. I spoke to each individually. So far Lowell accepted my 40% offer.
Wescott have offered 60%. (Original lender 'beat' their offer of 75%)
Robinson Way 70%.
Fredrickson 70%.
Capquest 90% (stingy b****)

Waiting to hear from original lenders through Robinson Way and Capquest, fingers crossed

All have been very approachable and nice to speak to and they have all been understanding of my difficult situation leading to these debts.

Am I correct in assuming that you aren't on a DMP with someone like Stepchange but are negotiating F&Fs completely by yourself?

I understood that in the event that a lump sum could be offered to settle debts early the debt management charities offer it to the creditors on a pro-rata basis. I assume you are offering 40% per creditor regardless of the amount owed. please forgive me if I've got the wrong end of the stick here:o

I'm now self-managing my DMP after 4 years with Stepchange and am trying to find out all the likely scenarios before offering any F&Fs. Not that I'm in the lovely position of having 40% of my total outstanding debt yet:(. Congratulations on being in that position yourself:T

Good Luck:beer:

Learning2Budget

Offered a f&f on my dmp. Cahoot are very slow and my smallest westcott has been declined. However everyone else has settled for approx 70%. Few more weeks and it may be over.
L2B.x

heatherks

hi i have only one creditor left on my dmp Barclaycard who were also only ones who continued to add interest on my account

My reduced payment plan came to an end recently and as i didnt send them a full copy of my income and expenditure (although i did send them a letter telling them them my circumstances and income had not changed) they wouldnt accept my offer to continue paying £20 a month and asks me to cobtact their specialist support team when i call the number on letter its says number not recognised

Barclaycard are the only ones (well apart from littlewoods ) to give me hassle through the years phoning my mobile several times during last month asking for my income and expenditure i usually only deal with them in writing

A family member has offered to pay it off for me and i was wondering if anyone had recenly had sucess with Barclaycard and a F&F