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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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  • edited 26 November 2019 at 12:01PM
    fullofcoldfullofcold Forumite
    124 posts
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    edited 26 November 2019 at 12:01PM
    Right so, just to clarify (I've had meningitis and my brain misfires a lot)

    1. Get copy of CCA (or not if there isn't one or they can't find it)
    2. Give notice to GP when we exchange
    3. Write to creditors with a low ball offer - even more low ball if no CCA
    4. Negotiate F&F
    5. Pay whatever we agree on after they have confirmed figures are full and final as per the sample letters

    Is there anything I have forgotten?


    Edited to add he has just sent me the breakdown and one of them is a CCJ - I assume that one will need to be repaid in full.
    Mortgage challenge - 204k in 12 years
  • Willing2LearnWilling2Learn Forumite
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    fullofcold wrote: »
    Right so, just to clarify (I've had meningitis and my brain misfires a lot)

    1. Get copy of CCA (or not if there isn't one or they can't find it)
    2. Give notice to GP when we exchange
    3. Write to creditors with a low ball offer - even more low ball if no CCA
    4. Negotiate F&F
    5. Pay whatever we agree on after they have confirmed figures are full and final as per the sample letters

    Is there anything I have forgotten?


    Edited to add he has just sent me the breakdown and one of them is a CCJ - I assume that one will need to be repaid in full.
    I am confused at to why you need to keep your GP in the loop. But yes to everything else.

    You can haggle with a CCJ too. The only difference being that if you partially satisfy a CCJ, the associated entry on your credit file will not be marked as settled.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • fullofcoldfullofcold Forumite
    124 posts
    100 Posts Name Dropper
    I am confused at to why you need to keep your GP in the loop. But yes to everything else.

    You can haggle with a CCJ too. The only difference being that if you partially satisfy a CCJ, the associated entry on your credit file will not be marked as settled.

    Ha ha ha, my husband has used Gregory Penningtons for his DMP (Yes he knows he's an idiot).

    His CCJ is not showing on his credit file as it was over 6 years ago (16) so if that is the case I'll just crack on.

    Many thanks for your help.
    Mortgage challenge - 204k in 12 years
  • flyingvflyingv Forumite
    19 posts
    10 Posts First Anniversary
    Hi all, a bit of an update. I had a missed call from Arvato so rang them back. The guy was very rude, bordering on aggressive - and said that as I had a payment plan in place there was no need for them to accept a f&f. However, I stayed calm and he eventually gave me a figure of £757 (on £990 debt!) but when I asked for confirmation in writing he said there was no point. Okay... Fast forward a few days and I receive a letter basically reiterating that I had a payment plan in place, but no mention of the f&f amount he'd mentioned. They can just have their money at the agreed £25 a month until it's paid in that case.



    Still no news from Robinson Way.
  • fatbellyfatbelly Forumite
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    flyingv wrote: »
    Hi all, a bit of an update. I had a missed call from Arvato so rang them back. The guy was very rude, bordering on aggressive - and said that as I had a payment plan in place there was no need for them to accept a f&f. However, I stayed calm and he eventually gave me a figure of £757 (on £990 debt!) but when I asked for confirmation in writing he said there was no point. Okay... Fast forward a few days and I receive a letter basically reiterating that I had a payment plan in place, but no mention of the f&f amount he'd mentioned. They can just have their money at the agreed £25 a month until it's paid in that case.



    Still no news from Robinson Way.

    You can always confirm an offer back to them:
    WITHOUT PREJUDICE

    Thank you for confirming that you are willing to accept an offer of £757 on my debt of £990. I cannot afford £757 but could afford £XXX as full and final settlement of the account. I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.

    If you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed.

    I can pay the amount I have offered within X of receiving your written agreement of this offer.
  • flyingvflyingv Forumite
    19 posts
    10 Posts First Anniversary
    Thanks fatbelly, I'll try that.
  • Hi, I've had a good read through this thread and have decided to go down the CCA route then offer F&F settlements. I currently have 13 debts all of which have I have defaulted on between 2012 and 2019.

    All except one (Capital One) are now with DCA. Cap One was open in 2015 and I defaulted in 2016. I've been paying £1 a month since then. Is it still worth sending a CCA and/or offering them F&F.

    I am unsure who actually owns any of these debts (keeping track of 13 debts is exhausting). Should I send the CCA requests to the DCA's and they will let me know? Should I include the £1 postal order?

    Lx
  • fatbellyfatbelly Forumite
    15.2K posts
    Part of the Furniture 10,000 Posts Cashback Cashier Car Insurance Carver!
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    Hi, I've had a good read through this thread and have decided to go down the CCA route then offer F&F settlements. I currently have 13 debts all of which have I have defaulted on between 2012 and 2019.

    All except one (Capital One) are now with DCA. Cap One was open in 2015 and I defaulted in 2016. I've been paying £1 a month since then. Is it still worth sending a CCA and/or offering them F&F.

    I am unsure who actually owns any of these debts (keeping track of 13 debts is exhausting). Should I send the CCA requests to the DCA's and they will let me know? Should I include the £1 postal order?

    Lx

    Yes, send cca requests to everyone, sending to whoever is writing letters to you.

    You have to include a £1 PO for it to be legally active. Just send the PO, don't bother about having it made out to anyone or crossed.

    Haw much is your total debt? How much is your fighting fund?
  • fullofcoldfullofcold Forumite
    124 posts
    100 Posts Name Dropper
    Can I ask what is probably a stupid question. Can you negotiate a full and final over the telephone and pay it once you receive written confirmation?
    Mortgage challenge - 204k in 12 years
  • Willing2LearnWilling2Learn Forumite
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    fullofcold wrote: »
    Can I ask what is probably a stupid question. Can you negotiate a full and final over the telephone and pay it once you receive written confirmation?
    Yes you can do it this way, if you feel confident enough on the phone...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
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