Full and final settlement help thread

Lifeisforliving19

Anybody had any good success stories with L*nk? They are old B/CD debts. Got enough to make an offer on one of them and although I want to go in very low, I also want them to accept it. Not going for any stupid 65% deals.

[Deleted User]

Lifeisforliving19 wrote: »

Anybody had any good success stories with L*nk? They are old B/CD debts. Got enough to make an offer on one of them and although I want to go in very low, I also want them to accept it. Not going for any stupid 65% deals.

I think they assess each case on it's merits and you may have luck with them. I certainly didn't!


They bought my 2 old MBNA credit card debts and have been a nightmare to deal with all along. They never respond to letters and seem to want me to engage with them on the phone. I've done this in desperation at times but it's often very frustrating.

They wouldn't consider my settlement offer of 35% which is the absolute maximum I'd be prepared to pay. They countered with 65% payable and wouldn't come down which is laughable. They prefer to accept my token £1 a month, possibly forever:rotfl:


I'm hoping they might come back to me eventually with a better offer but I'm not holding my breath. Good luck with your attempts:beer:. Definitely go in low but be prepared to be flexible if they counter with something you can afford. Please let us know how you get on.

Lifeisforliving19

carbootcrazy wrote: »

I think they assess each case on it's merits and you may have luck with them. I certainly didn't!


They bought my 2 old MBNA credit card debts and have been a nightmare to deal with all along. They never respond to letters and seem to want me to engage with them on the phone. I've done this in desperation at times but it's often very frustrating.

They wouldn't consider my settlement offer of 35% which is the absolute maximum I'd be prepared to pay. They countered with 65% payable and wouldn't come down which is laughable. They prefer to accept my token £1 a month, possibly forever:rotfl:


I'm hoping they might come back to me eventually with a better offer but I'm not holding my breath. Good luck with your attempts:beer:. Definitely go in low but be prepared to be flexible if they counter with something you can afford. Please let us know how you get on.

Thanks CBC. I have no doubts they will reject my first offer, but we will see. At the current rate, I have calculated it will take me nearly 45 years to pay this one....bear in mind I am already nearly 62...:rotfl: So hoping they see the sense in accepting an offer.

[Deleted User]

Lifeisforliving19 wrote: »

Thanks CBC. I have no doubts they will reject my first offer, but we will see. At the current rate, I have calculated it will take me nearly 45 years to pay this one....bear in mind I am already nearly 62...:rotfl: So hoping they see the sense in accepting an offer.

I'm in my 70s and at the rate I'm paying them it will take about 150 years to pay it off:rotfl:

Lifeisforliving19

carbootcrazy wrote: »

I'm in my 70s and at the rate I'm paying them it will take about 150 years to pay it off:rotfl:

Yes some of ours are going to take a lot longer. We are paying £1 only to some, but the L*nk ones, we are paying slightly more. We didn't pay anything to them for a year as they were looking for CCA docs, but unfortunately they found them...had a feeling they would find these ones. Still we still have 3 accounts with PR* that are UE...although only very small ones. might have to lower the L*nk ones soon as well, as not sure how much longer I will have one of my jobs. If I lose that, that's £240 a month less. Mind you , the DCA's have no idea we are trying to amass a F&F pot. I make sure the I&E is tweaked enough to make them think that is all we can afford.

Wilberfustian

Hi there - any advice gratefully received!
As of this month these are my debts:
NCO: £6157
Idem:£5170
Robinson Way:£2646
PRA:£2950
Cabot:£2044
Capital One:£1908 (£1393 was their offer 1.11.18 which I didn't take them up on so they said to give it a couple of months and try again)
Wescot:£1015
Idem:£514
Cabot:£13160
Total debt: £35,569

Am currently paying £500 per month (since 2009) via Stepchange so another 5 years to go
Sent CCA letters 9th October. Robinson Way, Wescot and Capital One have sent back copies of the original paperwork but the rest have said they are still looking.

A relative is prepared to give us some money to pay the debts off.Am I right in thinking the next steps are:

1. Write to them all with an offer (or can I just ring them?) - what should I start with for the ones who are unenforceable compared to the other 3?
2. If I carry on using Stepchange and payng £500 a month in the meantime is that a mistake and I really should go self managed? I'm worried that stopping payments to the unenforceable ones will cause me to get a lot of hassle from creditors that up till now have been no problem which is why I'm a bit nervous about going self managed!
Thanks very much.

Lifeisforliving19

Wilberfustian wrote: »

Hi there - any advice gratefully received!
As of this month these are my debts:
NCO: £6157
Idem:£5170
Robinson Way:£2646
PRA:£2950
Cabot:£2044
Capital One:£1908 (£1393 was their offer 1.11.18 which I didn't take them up on so they said to give it a couple of months and try again)
Wescot:£1015
Idem:£514
Cabot:£13160
Total debt: £35,569

Am currently paying £500 per month (since 2009) via Stepchange so another 5 years to go
Sent CCA letters 9th October. Robinson Way, Wescot and Capital One have sent back copies of the original paperwork but the rest have said they are still looking.

A relative is prepared to give us some money to pay the debts off.Am I right in thinking the next steps are:

1. Write to them all with an offer (or can I just ring them?) - what should I start with for the ones who are unenforceable compared to the other 3?
2. If I carry on using Stepchange and payng £500 a month in the meantime is that a mistake and I really should go self managed? I'm worried that stopping payments to the unenforceable ones will cause me to get a lot of hassle from creditors that up till now have been no problem which is why I'm a bit nervous about going self managed!
Thanks very much.

Definitely go SM before you start making offers. SC like to share any extra money between the creditors as opposed to paying off one. Make sure you put it in writing and get any replies back from them in writing. There is a template on the NEDCAB website you can use. You need to make sure that they agree to not chase you for the remainder or sell on the remaining debt etc...its all on the template.
We are SM and not been paying our UE ones for almost a year, no problem, they actually said the account was on hold. Not sure how it works with SC and stopping payments though. I'm sure someone else would be able to advise.

bradqwer

I had £1,846 worth of unsecured debts with Lowell I wrote my first SOA and F& F letter to them last week offering to pay around 30% of this debt and got the email today agreeing to settle for £450 just be frank in your letters I simply couldn't find any funds to pay of these amounts and they had been chasing me 2 years for them I informed them I would make 3 x £150 payments and clear it or they could chase me without much luck and they agreed

cheesypuff

I’m about to send of my CCA letters to 9 creditors can anyone confirm whether I need to enclose £1 payment or not? I am reading conflicting reports on this some people saying this is no longer required. It’s just I have no cheque book so would have to go and purchase 9 postal orders and don’t want to do this if I don’t have to .

Willing2Learn

cheesypuff wrote: »

I’m about to send of my CCA letters to 9 creditors can anyone confirm whether I need to enclose £1 payment or not? I am reading conflicting reports on this some people saying this is no longer required. It’s just I have no cheque book so would have to go and purchase 9 postal orders and don’t want to do this if I don’t have to .

The article linked below is date-stamped 07/12/18 so is less than a month old. They state that you have to send a cheque or a postal order for £1.
https://debtcamel.co.uk/ask-cca-agreement-for-debt/

FWIW, when I sent off CCA requests a decade ago, I included postal orders.