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Full and final settlement help thread

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
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  • General_queryGeneral_query Forumite
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    fatbelly wrote: »
    You're talking about the £1 fee for a CCA request? Just use a £1 postal order, uncrossed and unnamed, send it with the standard letter from the National Debtline site, to the address from which they write to you.



    Of the six debts owed, 2 debts are with PRA Group (MBNA + Barclaycard) and 2 are with Westcot, I take it that means a £1 Postal Order for each CCA request, so in my case, 6 Postal orders....?
  • Of the six debts owed, 2 debts are with PRA Group (MBNA + Barclaycard) and 2 are with Westcot, I take it that means a £1 Postal Order for each CCA request, so in my case, 6 Postal orders....?

    Not sure about the PO situation but just wanted to say that Wescot won't have bought the debts, they just manage them for the original creditor I believe. I seem to recall when I sent a CCA for an old debt I sent it to Wescot and they wrote and told me that they were referring it back to their 'client'. I think that's the way to do it, send it to whoever is actually dealing with the debt currently not the original creditor. If I'm mistaken, someone will no doubt put us both right:).

    When I was on my Stepchange DMP I still received 6-monthly/annual statements through the post from my creditors including the ones Wescot were managing. If you have a recent one it will have the address on it. Also, in passing, Wescot were always so nice to deal with especially when negotiating a F&F settlement. They couldn't have been more helpful.
  • General_queryGeneral_query Forumite
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    Scrimpess wrote: »
    Not sure about the PO situation but just wanted to say that Wescot won't have bought the debts, they just manage them for the original creditor I believe. I seem to recall when I sent a CCA for an old debt I sent it to Wescot and they wrote and told me that they were referring it back to their 'client'. I think that's the way to do it, send it to whoever is actually dealing with the debt currently not the original creditor. If I'm mistaken, someone will no doubt put us both right:).

    When I was on my Stepchange DMP I still received 6-monthly/annual statements through the post from my creditors including the ones Wescot were managing. If you have a recent one it will have the address on it. Also, in passing, Wescot were always so nice to deal with especially when negotiating a F&F settlement. They couldn't have been more helpful.


    Thank you for that, appreciated.
  • edited 13 September 2019 at 12:27PM
    sourcratessourcrates Forumite, Board Guide
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    edited 13 September 2019 at 12:27PM
    Scrimpess wrote: »
    Not sure about the PO situation but just wanted to say that Wescot won't have bought the debts, they just manage them for the original creditor I believe. I seem to recall when I sent a CCA for an old debt I sent it to Wescot and they wrote and told me that they were referring it back to their 'client'. I think that's the way to do it, send it to whoever is actually dealing with the debt currently not the original creditor. If I'm mistaken, someone will no doubt put us both right:).

    When I was on my Stepchange DMP I still received 6-monthly/annual statements through the post from my creditors including the ones Wescot were managing. If you have a recent one it will have the address on it. Also, in passing, Wescot were always so nice to deal with especially when negotiating a F&F settlement. They couldn't have been more helpful.
    Thank you for that, appreciated.


    Wescott stopped buying debts a few years ago, there core buisness now is to manage accounts on behalf of their client banks.


    Uncrossed postal order for £1 (£1.50 after PO cut) sent to each creditor, don`t write on them, occasionally they are sent back as "not required" so you can re-cash them if need be.
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  • Hi, wondering if anyone can help with this please.


    I sent away CCA requests a week or so ago and today have had replies about 2 of my debts. Both are from Robinson Way, one in relation to an Abbey account and the other for a Barclays loan account.

    Both letters are the same and say:

    ‘We acknowledge receipt of your Consumer Credit Act (CCA).

    In order for us to request the documents we have had to cancel the payment arrangement in place with Step Change Debt Charity.

    Your account will remain on hold until the documents have been received. Once these have been sent to you we will contact them regarding your payment’

    Does anyone know if this is this normal? I hadn’t expected them to stop any payment arrangement with Step Change.
  • Willing2LearnWilling2Learn Forumite
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    latte55 wrote: »
    I sent away CCA requests a week or so ago and today have had replies about 2 of my debts. Both are from Robinson Way, one in relation to an Abbey account and the other for a Barclays loan account. Both letters are the same and say:
    ‘We acknowledge receipt of your Consumer Credit Act (CCA).

    In order for us to request the documents we have had to cancel the payment arrangement in place with Step Change Debt Charity.

    Your account will remain on hold until the documents have been received. Once these have been sent to you we will contact them regarding your payment’
    Does anyone know if this is this normal? I hadn’t expected them to stop any payment arrangement with Step Change.
    This is perfectly normal. It means that the two accounts have become unenforceable whilst Robinson Way requests a true copy of your credit agreements from the original creditors.

    I suggest putting the aside the money you would normally pay toward the accounts. This way, you will be building funds to pay off the two accounts for a low f & f amount should the accounts remain unenforceable. :)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

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  • Hi Guys,

    I know you guys recommend sending in your F&F offers in writing, I want to avoid this as my partner is unaware of my debts and want to avoid a bunch of correspondence coming through the post.

    What are your thoughts on calling these companies and making offers over the phone? And if I should do that what percentage shall I start at? 10,20,30%??

    Assume all are enforceable as they are all under 4 years old and I've been on a DMP since Feb paying £144 a month on a toal balance of around £50k.

    Thanks
  • edited 17 September 2019 at 5:19PM
    Willing2LearnWilling2Learn Forumite
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    edited 17 September 2019 at 5:19PM
    DFW_ASAP wrote: »
    … I know you guys recommend sending in your F&F offers in writing, I want to avoid this as my partner is unaware of my debts and want to avoid a bunch of correspondence coming through the post.

    What are your thoughts on calling these companies and making offers over the phone?
    It is essential that you make your offer in writing. It is also very important to make sure the creditor accepts your full and final settlement offer in writing and to make sure you keep a copy in case there is a dispute. This could happen years later and you may need the letter as proof.

    Making offers by telephone has the potential to lead to disaster. You need the paper trail. :)

    Also, your DMP is quite recent. Are all the accounts now with Debt Collection Agencies (DCA)? You are not likely to get any good offers accepted as the DMP has only recently begun and some of the accounts may still be with the original creditor.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

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  • Hi WIlling2learn.

    Most of creditors are with DCA apart from 3 or 4 out of the ten which are coming up to 6 months overdue and going through the default process.

    Is it at all possible to negotiate over the phone and get them to confirm the deal in the writing.

    Thanks
  • January2015January2015 Forumite
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    Hi everyone :wave:

    Haven't been around much lately, but thought I would update you with our latest success in the game that is F&Fs :)

    We wrote to the DCA managing our Hellfax OD account. We have previously offered F&Fs to be funded by family member of up to 25% of the balance and always the answer was a big fat NO :( However we wrote this time and offered 35% and said we had managed to scrape the funds together by selling some of stuff. Amazingly they wrote back and said they would accept F&F but they put forward a counter offer which was LESS than we had offered and we settled the debt at 22% of the balance. It was not a huge debt - about £1.3k but wow it was good to get it settled and for less than we had even offered.

    I wonder if it because they felt sorry for us having to sell our bits and pieces to clear the debt :)
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: I'm driving it down:j
    £1k emergency fund (member #84:j) £1k/£1k
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