Full and final settlement help thread

farmeress

Hello again,
This thread has been invaluable to me and the advice (especially from sourcrates and fatbelly) given has always pointed me in the right direction, so I thought I'd post an update.
I have been trying to negotiate F&F's with Barclaycard, Barclays O/D and NatWest.
Yesterday I received a letter from NatWest confirming they will accept a settlement of 35% - £1600 for a debt of £4500! Chuffed is an understatement.
I'm still playing the negotiating game with Barclaycard and Barclays, but this lightens the load a little
I will keep posting

sunnyskies2

Hi barbootcrazy, I believe it went straight to Lowell. Funnily enough yesterday we received a letter from Westcot who have our 3 Lloyd’s loans, asking for an update as we reduced the amount we pay, this was in a March! I will forward to SC to deal with.

Good luck with yours.

djewkes

I’m still waiting to hear back.....so much for the promised 48 hours (Thursday afternoon), called again yesterday and was told they’d get back to me later (they didn’t)........will update when I hear.....

pbsmiles

Hi everyone

8 creditors negotiating 38k debt with 10k, the only debt that hasn't been sold on is a barclay select loan of 18,319.67 I rang them this morning and split the 10k accordingly offering them 4781.76 and they accepted it. Thats 26% of the amount.

OMG happy or what, this was 47% of my total debt. Wow!!!!!

:j:j:j:j:j:j:j:j:j:j:j:j:j

StokieBecks

Make sure you get it in writing before you pay them that this will settle the debt and they will not chase or sell on the remainder. This paperwork then needs keeping for six years

pbsmiles

StokieBecks wrote: »

Make sure you get it in writing before you pay them that this will settle the debt and they will not chase or sell on the remainder. This paperwork then needs keeping for six years

Thank you, yes they are putting it in the post in writing and I will keep it all.

StokieBecks

Excellent well done. Hope your others agree too but don't loose heart if they don't just put their share somewhere safe and try again in a few months

arc2014

Sending off 2 F&F's today, both at 30% total owed. I don't quite have the funds to offer the 3rd, but hopefully soon will do!
These 2 offers are going to Lowell and Moorcroft, anyone any experience with either of them? Did they counter offer? How long before they got back in touch? Thanks!

scotnorma

Hello,
Apologies if this is posted in the wrong place, please feel free to move if so. I've read much of this thread looking for a definitive answer but haven't found anyone in the same circumstances.

I did some CCA requests at the end of last year, and RBS responded saying they couldn't fulfill the request and that the debt was unenforceable but that I should continue to pay them under the terms of the (reduced) payment arrangement I had with them.

This account was defaulted in 2010 and is no longer on my credit report so I decided that I would stop paying them as they shouldn't be able to take any further action. However, 11 months down the line I have received a letter stating that I still need to pay and not to underestimate the seriousness of my situation, plus if an agreement is not reached they reserve the right to take futher action. Can they actually do anything beyond continuing to send me letters?

Thanks in advance for any advice you can give me,

scotnorma

National_Debtline

Hi scotnorma


RBS have acknowledged that their debt is unenforceable i.e. that they can't take it through the courts.


Any reference they make to "further action" thus means as much as you want it to. More letters/phone calls/emails etc., presumably.


They may still be entitled to ask for repayment. This isn't the same as being in a position to force you to oblige.


Dennis
@natdebtline