Full and final settlement help thread

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
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  • fatbellyfatbelly Forumite
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    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
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    cdescort said:
    fatbelly said:
    cdescort said: contributes 
    It's a bit picky of them but the scare stories about providing a signature are overdone. Just sign and return. Don't pay anything. See what comes back.

    I would expect Tesco to come up with the goods, though. Are you looking for a settlement deal?
    i am yes .. thought it was worth an ask on the off chance it wasn't available 

    It's your right under the Consumer Credit Act - always worth doing before negotiations.
  • ruki_2ruki_2 Forumite
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    Part of the Furniture 10 Posts Combo Breaker
    techno21 said:
    Thanks fatbelly.

    I have made an amendment of the ND to send to the DCAs who haven't provided a CCA:

    Dear Sir/Madam


    Account No: XXX

     

    I am writing about the money which you are claiming on the above account following your letter on 26th March. I have been advised to stop repayments as you are unable to provide a valid credit agreement.

     

    However, I would like to offer a full and final settlement offer of 5% as a gesture of good will. A family member has made a one time offer to gift me the money to pay off the debt once and for all.

     

    I want to offer this as a 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 2 days of receiving your written agreement of this offer. This offer is valid for 10 working days.

     

    Please give me details of how I can pay.

     

    I look forward to hearing from you.

     

    Yours faithfully

     

    What do you think? Anything missing? I'm not sure if "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." is necessary as she has already defaulted.

     



    I got the following bullet points to add to the letter from the internet, does anyone have any thoughts on this? is it a good idea to include or will it hinder the negotiations?

    To confirm, I am offering XXX to settle so long as you can agree to, and ensure that, the following actions will be carried out;

    * The Status of the account will change from “Defaulted” to “Settled”

    * The Current Balance will appear as £0.00

    * The Default / Delinquent Balance will be set to £0.00

    * This will apply to all 3 Credit Reference Agencies, namely Experian, Equifax & Call Credit



  • edited 24 April at 10:02AM
    InDebted2U_2InDebted2U_2 Forumite
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    edited 24 April at 10:02AM
    Should a CCA request be sent recorded delivery or is proof of posting okay?
    2021 Targets
    find my smile again
    :money:
  • fatbellyfatbelly Forumite
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    I guess, to avoid all possible excuses by the other side, send it signed for.
  • 2babyboys2babyboys Forumite
    59 Posts
    Part of the Furniture 10 Posts Combo Breaker
    Hi, is there a guide to full and final settlement process anyone can refer me to please?  Thank you
  • FustercluckerFusterclucker Forumite
    93 Posts
    10 Posts First Anniversary
    It’s like Bartering. There are no rules - it’s all informal
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