Full and final settlement help thread

DebtAngel

fatbelly and sourcrates - you two (amongst others) were particularly helpful. At first I thought these creditors were as powerful as the police and I was slightly intimidated by them. It is only through lurking in this forum that I realised how little power they actually have. Once that fear of them was gone it made a big difference. 

Like you guys have said many times they are not entitled to any information (regardless of what they say). Give them what you want to give them only. 

Thanks to everyone who contributes here. You guys save people from living in constant fear and suffering serious mental health issues. 

GreenCat80

Has anyone had any luck with Capquest? They’ve offered me 10% off 🙄😒😅

DFW_ASAP

Hi all

Just to let you guys know I just settled a HSBC account with Moorcroft for 10% of the balance. I made the offer as an opening offer last month to Moorcroft who said they'd propose it to HSBC. 

My jaw fell to the floor when I opened the letter today which said they are willing to accept. 

GreenCat80

DFW_ASAP said:

Hi all

Just to let you guys know I just settled a HSBC account with Moorcroft for 10% of the balance. I made the offer as an opening offer last month to Moorcroft who said they'd propose it to HSBC. 

My jaw fell to the floor when I opened the letter today which said they are willing to accept. 

That’s amazing, congratulations!

DFW_ASAP

A couple of Months ago i started making 10% settlement offers. Settled a couple for 20% and one for 10%. The rest were too high so continuing at £1pm.

Admiral have not passed on their loan to an agency and I have been paying them £1pm for almost 2 years on an original balance of £8k. 

When they replied to my offer they asked for 3 months worth of bank statements and a new income and expenditure and evidence of funds etc. Before they can consider it

I informed them I no longer had funds available and withdrew my offer as I did NOT want to disclose my bank statements to them as it would show a bigger surplus than what I've declared to them as per advice on this forum. 

Is there anyway I can negotiate a settlement without having to disclose statements etc. Happy to complete and I&E which I can tailor but not comfortable at all with them asking me for bank statements.

Can any one advise?

Thanks in Advance 

fatbelly

DFW_ASAP said:

A couple of Months ago i started making 10% settlement offers. Settled a couple for 20% and one for 10%. The rest were too high so continuing at £1pm.

Admiral have not passed on their loan to an agency and I have been paying them £1pm for almost 2 years on an original balance of £8k. 

When they replied to my offer they asked for 3 months worth of bank statements and a new income and expenditure and evidence of funds etc. Before they can consider it

I informed them I no longer had funds available and withdrew my offer as I did NOT want to disclose my bank statements to them as it would show a bigger surplus than what I've declared to them as per advice on this forum. 

Is there anyway I can negotiate a settlement without having to disclose statements etc. Happy to complete and I&E which I can tailor but not comfortable at all with them asking me for bank statements.

Can any one advise?

Thanks in Advance 

Just carry on with the £1 payments and re-visit in 3-6 months.

You may get a different attitude

Vaninja

I emailed a reasonable  Full and FInal offer to Cabot (40%) and also through their portal, and other than an automated "we have received your offer" email, Ive not heard anything for nearly a week.  Is this always the case ?

fatbelly

I think you just have to wait. 1-2 weeks would be normal. Don't expect them to accept your first offer.

DFW_ASAP

Question Re CCA requests.

Accounts opened between 3-4 years ago. All opened and signed online via online banking or the bank's website. Don't ever remember any physical paperwork being exchanged.

From this, I would assume that it would not be difficult for the likes of PRA and Moorcroft or other DCA to obtain a copy of these if I was to make a request.

I would think that there is more of a chance these being "lost" or destroyed after 6 years of due to GDPR weeding exercises.

What I don't want is to ask for them now and force them to obtain it instead of chancing that they lose them in future.

I could be completely wrong with my thinking so I suppose what my question is, should I make the request or not.

Currently paying £1 month. Looking to settle for 10-20% max.

Thanks

fatbelly

DFW_ASAP said:

Question Re CCA requests.

Accounts opened between 3-4 years ago. All opened and signed online via online banking or the bank's website. Don't ever remember any physical paperwork being exchanged.

From this, I would assume that it would not be difficult for the likes of PRA and Moorcroft or other DCA to obtain a copy of these if I was to make a request.

I would think that there is more of a chance these being "lost" or destroyed after 6 years of due to GDPR weeding exercises.

What I don't want is to ask for them now and force them to obtain it instead of chancing that they lose them in future.

I could be completely wrong with my thinking so I suppose what my question is, should I make the request or not.

Currently paying £1 month. Looking to settle for 10-20% max.

Thanks

PRA are debt buyers. Moorcroft usually are just collectors.

It's good practice to do CCA requests ahead of F&F offers.

10-20% is at the low end of settlements. Maybe save a bit more so that you have 30%, even if you don't offer that. Then do the cca requests ahead of that offer