Full and final settlement help thread

fatbelly

lota1 wrote: »

Hiya in middle of negotiating with Cabot for a F & F settlement but when I ask for amounts to be confirmed to me in writing they are pushing for confirmation by email and they want payment today (or willl be tomorrow as they are calling me back)

Is it okay to accept confirmation in an email or is there some trick they're playing. ..... feeling paranoid

Maybe they've got targets to meet by the end of the month. Whatever, the advice stands: don't part with cash until confirmed in writing. If they can send a letter on their letterhead, as a pdf attachment, I guess that's OK.

lota1

Thanks for the reply Fatbelly, I notice people talking abut Cca requests so I might look into that first as I took out these agreements before 2005

Balmain

I sent a CCA request to Capital One for a CC taken out in 2003 and they have sent back a reconstituted copy of the original agreement. It has my signature on it but I'm not sure what other information it needs to have in order to be enforceable. Anybody know what I should be looking for?
Thanks in advance for any help.

DavesDevil

I am about to offer my first F&F - is the NEDCAB template letter ok to us or does it need some amendments? Many thanks.

fatbelly

Dear Sir/Madam

Without Prejudice

Account No: …………………………

I/we write with reference to the money which you are claiming on the above account.

I/we can confirm that I am / we are unable to offer to pay the money which I/we owe in full (add details of your circumstances and financial situation).

However, I/we can raise £ (put the amount which you can afford to pay) and I/we want to offer this as an ex-gratia payment in full and final settlement of the account.

This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I/we will be released from any liability.

I/we also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as having been paid and the account closed.

Payment can be made within (put the number of days or weeks within which you will pay) of receiving your written agreement of this offer and method of payment.

I/we look forward to receiving your reply.

Yours faithfully

It's fine.

DavesDevil

fatbelly wrote: »

It's fine.

Thanks for your time Fatbelly

DrWatson1

Balmain wrote: »

I sent a CCA request to Capital One for a CC taken out in 2003 and they have sent back a reconstituted copy of the original agreement. It has my signature on it but I'm not sure what other information it needs to have in order to be enforceable. Anybody know what I should be looking for?
Thanks in advance for any help.

Try this thread:

http://forums.moneysavingexpert.com/showthread.php?t=2777470

[Deleted User]

DrWatson1 wrote: »

Try this thread:

http://forums.moneysavingexpert.com/showthread.php?t=2777470

After seeing your response to Balmain I looked at the thread you linked to but I'm still not sure what constitutes 'unenforceable':o. Sorry to be so dense.

One of my creditors sent me pages of Ts and Cs (the 'agreement') and an accompanying sheet which just contained the current balance on the account.


They did NOT send a copy, reconstituted or otherwise, of my application form for this card. Do they have to provide that for the debt to be enforceable? I realise that an applicant's signature doesn't have to be present.


Also, the accompanying letter says that what they have sent me fully complies with the CCA requirements but I still have my doubts:(. Any advice very welcome please.

DrWatson1

carbootcrazy wrote: »

After seeing your response to Balmain I looked at the thread you linked to but I'm still not sure what constitutes 'unenforceable':o. Sorry to be so dense.

One of my creditors sent me pages of Ts and Cs (the 'agreement') and an accompanying sheet which just contained the current balance on the account.

I'm in the same boat as you making CCA requests. What they have sent you may or may not comply with this request, but unfortunately you're not going to be able to get that advice on the internet - you're going to have to get a debt solicitor to take a look if you want a definitive answer.

However, with reference to the link I posted, if it has the amount of credit, details about repayments, the rate of interest and the credit limit, then it's probably enforceable. If one of those is missing, it probably isn't.

sourcrates

In a nutshell, a recon credit agreement is fine for any time period your account dates from.

For pre-April 2007 agreements, the prescribed terms must also be included, this requirement was abolished after this date.

Then there are other abnormalities that may also make it unenforceable, which can only be determined by someone legally trained.