Full and final settlement help thread

fatbelly

heatherks wrote: »

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

They are not the easiest but I've seen settlements at 70%

Mark80

Hi,

I have so many defaulted debts and I decided to make some full and final settlement offers for the lowest ones. Can I do this through email? Or use a pdf for offer and attached to the mail that I will send to them?

Or the best solution is to print my offer and send them by post?

Thanks
Mark

[Deleted User]

Mark80 wrote: »

Hi,

I have so many defaulted debts and I decided to make some full and final settlement offers for the lowest ones. Can I do this through email? Or use a pdf for offer and attached to the mail that I will send to them?

Or the best solution is to print my offer and send them by post?

Thanks
Mark

Hi Mark

Sorry, I'm in a rush but wanted to say that there are template letters somewhere with the wording that you should include when making a F&F offer. Someone might be along soon and point you in the right direction. If not, I'll try to be back later this evening.

Learning2Budget

I had 2 settlements but they wanted 90%.

redux

heatherks wrote: »

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

It is worth talking to them on the phone, first to make a new arrangement, and to see if they can do something about interest, but also ask about the prospect of a settlement offer, with your family helping.

The ordinary customer services might suggest settlement at 75%, and they can't do anything about interest.

Say this isn't good enough, and ask to talk to their complaints or customer relations team.

They might have discretion to suggest 60%. Also they might not be able to zero the future interest, but they might make sure it is as low as possible, and maybe do a goodwill refund of the last few months.

Another thing to discuss with them is that, going by quite a few comments here, Barclaycard seem to usually describe the account to credit reference agencies as in an arrangement, rather than defaulted, and this doesn't necessarily disappear from the files as quickly as a default would (6 years). After some discussion, in which you point out that it might be unfair for you to be described on credit files for longer than someone who fully defaulted, they should agree to remove it at a certain stage. Make a note to yourself, and be ready to remind them later.

If they can still suggest 60% settlement, which they did a couple of years ago for someone I know, leave it a while, to talk to your family again, then call back and offer 45 or 50%.

Although most of it can be done on the phone, get them to confirm the settlement in writing.

Edit: BC customer relations team 08000 150451

DopeyTom

Shoosmith's, collecting a debt on behalf of Arrow Global, recently issued me with a Letter Before Action, so as to avoid a CCJ, ive arranged a repayment plan of £10 / month.
When setting up the repayment plan with Shoosmiths, I asked about the possibility of a F&F settlement, the guy told me that I should contact them (Shoosmith's) by phone in order to make a F&F settlement offer, which they would then pass on to Arrow Global, before getting back to me with the outcome.
I intend to send a F&F settlement offer in writing, should this letter indeed be addressed to Shoosmiths or to Arrow Global (Arrow are the creditor)?

sourcrates

DopeyTom wrote: »

Shoosmith's, collecting a debt on behalf of Arrow Global, recently issued me with a Letter Before Action, so as to avoid a CCJ, ive arranged a repayment plan of £10 / month.
When setting up the repayment plan with Shoosmiths, I asked about the possibility of a F&F settlement, the guy told me that I should contact them (Shoosmith's) by phone in order to make a F&F settlement offer, which they would then pass on to Arrow Global, before getting back to me with the outcome.
I intend to send a F&F settlement offer in writing, should this letter indeed be addressed to Shoosmiths or to Arrow Global (Arrow are the creditor)?

Arrow global will be the owner of the account, shoesmiths are there tame solicitors.

Bypass the monkey and go straight to the organ grinder.

NittyGritty

anyone else have their debt passed onto wescot?


ive just offered them a F+F offer they just asked for income+expenditure before they will listen to offers,


should I be sending them the offer (as they have taken over from NatWest) or the original owner NatWest?

January2015

NittyGritty wrote: »

anyone else have their debt passed onto wescot?


ive just offered them a F+F offer they just asked for income+expenditure before they will listen to offers,


should I be sending them the offer (as they have taken over from NatWest) or the original owner NatWest?

Westcott only manage the debt for NW. Any offer you make will have to be referred to NW anyway so write straight to them. From experience they will want an I&E statement as well - unless you advise a third party, e.g. Relatives, are supporting you to settle the account It doesn't matter what your I&E is if that is the case.

January2015

Hi
I have posted on the DMP mutual support thread but thought I'd update here as not everyone looking for F&F info reads that thread. We've recently settled an unenforceable MBNA debt for approx £12k for 10%, i.e. For £1.2k. our credit reference files have been updated to show settled in full and all records of default and late payments have been removed. CRA files now show account well managed and all monthly status recording he are lovely and green and marked OK every month