Full and final settlement help thread

fatbelly

mica2 wrote: »

So Wescot have sent me an email to my offer saying they no longer administer my account and to contact Lloyds who it was originally with? I'm so confused. Does this mean I should try to go in again with my original offer of 50% and start negotiations from scratch?

Yes, or even a little lower.

You can always go up.

mica2

carbootcrazy wrote: »

That's odd!

I had an letter from Wescot earlier this year telling me that Lloyds might be amenable to a settlement offer but they (Wescot) were not in a position to make a decision on it. they told me to send the offer details to them (Wescot) and they would then put it to Lloyds for a decision. All seems a bit long-winded really, it would be simpler and probably quicker to go via Lloyds directly but Wescot said that's not the way to do it.


I'm wondering now whether Wescot have had a change of policy since they last wrote to me and are no longer administering Lloyds debts. They've been managing mine since about 2014.


Please keep us posted how you get on:T

Yeah it is weird and really frustrating! I feel like I'm just going round in circles! I first approached Lloyds who told me it was in Wescot's hands and now I'm back at the start! argh. I'll try a low offer and let you know.

mica2

fatbelly wrote: »

Yes, or even a little lower.

You can always go up.

Thanks, I'll give it a go.

Actually, does anyone here have an email address for Lloyds? I have nothing on any correspondence and I really don't want to call them.

Willing2Learn

Send them an f&fs letter in the post

mica2

Willing2Learn wrote: »

Send them an f&fs letter in the post

Thanks I would but I've moved abroad now.

Willing2Learn

enquiries@lloyds.com is the email address for their head office. The problem with email is that your enquiry might be identified as spam and therefore would go unreceived. If you are going ahead with your email, I suggest putting Debt Collections in the subject title. I would also phone them to confirm receipt and not lost in Spam folder. +44 (0)20 7327 1000 is the main switchboard number that goes with the email address.

To be honest, post seems to be the easiest method of making your offer

Simonjp

Hi everyone,

A couple of quick questions?

My credit report from both Experian and Clearscore don’t show two of my creditors that are on my DMP with StepChange

Honours student loans and wescot(running a old NatWest overdraft)

Any ideas why this is?

Am I correct that I can’t ask either of these for CCA request as they were an overdraft and student loan?

And also as they don’t show on my credit report how can I find out if they are in default?(have been paying a non token amount through StepChange for last 3 years)

Hope that makes sense

Thankyou for your help

RLM27

I wonder if anyone can help?
Does a partial settlement agreement affect your credit score or is it always wise to make sure your settlement is recorded as full and final?
Thank you

fatbelly

RLM27 wrote: »

I wonder if anyone can help?
Does a partial settlement agreement affect your credit score or is it always wise to make sure your settlement is recorded as full and final?
Thank you

The only way it can be recorded is partial settlement - that will affect you more than a full settlement, but less than an unsettled default.

Score is meaningless so don't worry about that number.

Simonjp

So...

I have 8 creditors on my DMP with SC

1 student loan
1 overdraft managed by wescot(not in default as far as I know, as doesn’t show on any credit report)
6 other debts(loans, cc etc) that are in default

Have been paying more than token payment for 3ish years

I am shortly going to have the funds to be able to pay them all off in full if i so choose(property sale)

Any benefit to me in doing so, or should I make F & F offers ?

Thoughts please