Full and final settlement help thread

David2Prit

ploppy57 wrote: »

Wow, you slipped through the net well there, didn't you. Well done.:T

Yep, and tbf, even if they contacted me now, a CCA goes in delaying etc, just to get over line.

[Deleted User]

ploppy57 wrote: »

Yes, unfortunately we only had the one with them...L*nk are the one I am finding the most difficult. But we keep plodding on...lol

L*ink is the DCA that's causing me grief at the moment too:(. If they would play ball I'd be almost debt-free now. The other refuser of my low F&F offer is Hoist (Robinson Way). That's my smallest remaining debt though so I'm not as bothered by that one.

MarieMoo

Hi

My husband has some debts and two of those have now got to the point of debt collection agency letters.
I sent a letter to each one asking for token payments for 6 months and two seem to have completely
ignored those letters and just sent their own out saying we have 7 days to arrange payment etc.

Should we call them and reiterate we want to set up the token payment or maybe try to see about
final settlement figures at least with one of them? We may be able to get hold of a little cash but nowhere near what is owed.

Creation (for solar panels) - £6003 (has been sold on to Moorcroft)
Mastercard - £5180 (says they're acting on behalf of Yorkshire Bank so not sure if they'v bought the debt or not)
Tesco credit card - £5100 ish i think - they haven't contacted us at all and my husband hasn't paid anything in months.

Also can I ask what CCA stands for? I assume DCA is debt collection agency?

Thanks x

David2Prit

MarieMoo wrote: »

Hi

My husband has some debts and two of those have now got to the point of debt collection agency letters.
I sent a letter to each one asking for token payments for 6 months and two seem to have completely
ignored those letters and just sent their own out saying we have 7 days to arrange payment etc.

Should we call them and reiterate we want to set up the token payment or maybe try to see about
final settlement figures at least with one of them? We may be able to get hold of a little cash but nowhere near what is owed.

Creation (for solar panels) - £6003 (has been sold on to Moorcroft)
Mastercard - £5180 (says they're acting on behalf of Yorkshire Bank so not sure if they'v bought the debt or not)
Tesco credit card - £5100 ish i think - they haven't contacted us at all and my husband hasn't paid anything in months.

Also can I ask what CCA stands for? I assume DCA is debt collection agency?

Thanks x

Firstly send a CCA request, it maybe that they can’t enforce the debt. https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-(sole-name).aspx
CCA basically asks for the original agreement between yourself and provider. If they can’t provide that.... very simple explanation .

Secondly, don’t bother ringing them. The letter they send are standard letters of which thousands get sent each day. Keep an eye on them, but wouldn’t worry yet.

fatbelly

MarieMoo wrote: »

Hi

My husband has some debts and two of those have now got to the point of debt collection agency letters.
I sent a letter to each one asking for token payments for 6 months and two seem to have completely
ignored those letters and just sent their own out saying we have 7 days to arrange payment etc.

Should we call them and reiterate we want to set up the token payment or maybe try to see about
final settlement figures at least with one of them? We may be able to get hold of a little cash but nowhere near what is owed.

Creation (for solar panels) - £6003 (has been sold on to Moorcroft)
Mastercard - £5180 (says they're acting on behalf of Yorkshire Bank so not sure if they'v bought the debt or not)
Tesco credit card - £5100 ish i think - they haven't contacted us at all and my husband hasn't paid anything in months.

Also can I ask what CCA stands for? I assume DCA is debt collection agency?

Thanks x

OK, DCA letters are nothing to worry about.

I'd leave Tesco for now - they'll contact you when ready.

A cca request is not a bad idea - it's your right under the Consumer Credit Act to ask for a copy of the original agreement.

But token offers will not deal with the debt, which is probably why the DCAs did not react positively, particularly if they did not like your financial statement or you did not give them one.

How much cash do you have? I realise that you have posted on a F&F thread but realistically you need to have 5k to play with if you are going to use that strategy.

Your best bet may be to post on the main debt-free wannabe board and post a statement of affairs

http://www.stoozing.com/calculator/soa.php

We can then look at what options you actually have

igaveupnowimback

Hi all, can hardly believe DMP due to finish in few months, only around 600 left to pay. Now wondering about F&F as tbh could do with freeing up the monthly payment and brother would help if would clear it once and for all. Have read many posts but still confused, don't know whether to just plod on rather than rock the boat. Mainly L***ll (half of overall bal) L**k, We**tt. Grateful for any suggestions, thanks. Sorry have asterisked as unsure if allowed to post company names lol.

System

igaveupnowimback wrote: »

Hi all, can hardly believe DMP due to finish in few months, only around 600 left to pay. Now wondering about F&F as tbh could do with freeing up the monthly payment and brother would help if would clear it once and for all. Have read many posts but still confused, don't know whether to just plod on rather than rock the boat. Mainly L***ll (half of overall bal) L**k, We**tt. Grateful for any suggestions, thanks. Sorry have asterisked as unsure if allowed to post company names lol.

From my experience, L***ll are very good when it comes to F&F's. L*nk seem to be a pain and We**t did offer us a deal, but it was more than we wanted to pay, so we have counter offered and waiting to hear from them. Just to add though, we have only been paying token payments for a while, so they could see there was not much chance of us ever paying it all off. Not so sure you would have the same luck if you have been keeping up with proper payments.
Good luck, the worst that can happen is they say no.

[Deleted User]

ploppy57 wrote: »

From my experience, L***ll are very good when it comes to F&F's. L*nk seem to be a pain and We**t did offer us a deal, but it was more than we wanted to pay, so we have counter offered and waiting to hear from them. Just to add though, we have only been paying token payments for a while, so they could see there was not much chance of us ever paying it all off. Not so sure you would have the same luck if you have been keeping up with proper payments.
Good luck, the worst that can happen is they say no.

I had a different experience with We***t. They didn't accept my 25% offer but settled 2, one of them my biggest debt, at 30% and 35% and couldn't have been more helpful and friendly throughout:j. L**k have been a total pain throughout:(. No experience of L***ll.

Agree about them needing to be aware that they're not likely to be paid in full by normal means before they'll entertain F&Fs. If I understood it correctly think the OP only has a total £600 outstanding (over several creditors) so I can't see them being interested in F&Fs at this late stage in the DMP:(. As you so wisely said, though, the worst they can do is say no. Might be worth a try anyway.

TubbyDown

A friend of mine settled all his debts and just rang them all up and the majority of them offered him a 30-40% reduction if he settled it over the phone today.

Ring them, be polite but be forceful and say you can get your hands on some money - what would hey accept to clear the balance.

TubbyDown

Ring them and be polite, but be forceful at the same time. Remember they have brought this debt for pennies considering what your willing to pay.

Always take time to consider there offer and maybe even call them back. I found when negotiating to pay the outstanding bill of my lease car, i managed to get it down even after they said there offer was a final offer and they wouldn't go any lower.

Good luck!