Full and final settlement help thread

BlueJ94

I've been following this thread and decided as I've never really looked into doing F&Fs I'd try it out

First 118 at £1940 25% offered they came back saying £1400 I refused.

SafetyNet at £300.71 I offered 25% they basically said nope, I asked what's their counter offer

FiveLamps £725 I offered 30% they said no but happy to do £404 and wipe off the remaining.

Next to try is Vanquis.

Good luck to all who are doing F&Fs! 

GreenCat80

jadewest94 said:

I've been following this thread and decided as I've never really looked into doing F&Fs I'd try it out

First 118 at £1940 25% offered they came back saying £1400 I refused.

SafetyNet at £300.71 I offered 25% they basically said nope, I asked what's their counter offer

FiveLamps £725 I offered 30% they said no but happy to do £404 and wipe off the remaining.

Next to try is Vanquis.

Good luck to all who are doing F&Fs! 

Good luck Jade! I’m waiting to hear back on 2 f&f offers I made, I don’t like the waiting 😅

DFW_ASAP

fatbelly said:

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

Thanks. I called PRA today and chanced making a 10% offer over the phone. She checked and the computer came back with an offer of 35% as the lowest they'd take. I then asked for a CCA request which they are now doing and will put the account on hold in the meantime.

Fingers crossed

BlueJ94

GreenCat80 said:

jadewest94 said:

I've been following this thread and decided as I've never really looked into doing F&Fs I'd try it out

First 118 at £1940 25% offered they came back saying £1400 I refused.

SafetyNet at £300.71 I offered 25% they basically said nope, I asked what's their counter offer

FiveLamps £725 I offered 30% they said no but happy to do £404 and wipe off the remaining.

Next to try is Vanquis.

Good luck to all who are doing F&Fs! 

Good luck Jade! I’m waiting to hear back on 2 f&f offers I made, I don’t like the waiting 😅

Mine got back to me within a day which I was impressed about. Although SafetyNet are asking a billion questions on why I want to settle it etc. 

GreenCat80

jadewest94 said:

Mine got back to me within a day which I was impressed about. Although SafetyNet are asking a billion questions on why I want to settle it etc. 

That's really fast! I've been waiting over 3 weeks for one of mine, 5 days for another...

BlueJ94

GreenCat80 said:

jadewest94 said:

Mine got back to me within a day which I was impressed about. Although SafetyNet are asking a billion questions on why I want to settle it etc. 

That's really fast! I've been waiting over 3 weeks for one of mine, 5 days for another...

Yeah I was super surprised! SafetyNet replied same day, FiveLamps replied the day after with a counter offer of just wiping my interest off completely. Just waiting to hear from Vanquis, got two more to do F&F with now! 

Vaninja

Can anyone advise on dealing with Link Financial outsourcing please ? I owe 4400. I offered 1500, they came back with 2800. I upped to 2000, they didnt budge. I have now gone in with 2200 (50%).    I've had this debt via DMP for over a decade, I'd hope they too would want to clear it off their books. 

Maghelp

Hi, it’s my first post and I’m hoping to get some advice on my best way forward. I posted earlier but my post appears to have been removed not sure why so reposting it   If I should have posted somewhere else then can someone let me know. 

I’ve been self managing since 2018 and paying token payments. I have total of £28k. 

M&S credit card (now with HSBC), Barclaycard (now with PRA), Santander (now with Moorcroft), First Direct loan (now with Wescot) and Bamboo loan (now with Lantern)  

Unfortunately I have recently been diagnosed with breast cancer and just starting my treatment. I had critical insurance cover which will pay off my mortgage and there will be some left over. 

I don’t know what the future holds and also have a 4 year old to think about. 

I don’t know whether I should just continue paying the token payments for now and just try and save some more money or to go for F&F settlements and see what discounts I can get and just get them cleared. 

If I go for F&F do I mention my breast cancer or not say anything and what discount should I start with?

I’ve never asked for a CCA from the credit card debts. Barclaycard was from 2003, Santander was 2010 and M&S was 2016. Should I ask for them? 

I would really appreciate some advice as having this hanging over me is causing me extra stress when I’m already struggling with my diagnosis, treatment and what I have to face in the future. 

Hoping someone could point me in the best direction. 

Thanking in advance of some help. 

sourcrates

Maghelp said:

Hi, it’s my first post and I’m hoping to get some advice on my best way forward. I posted earlier but my post appears to have been removed not sure why so reposting it   If I should have posted somewhere else then can someone let me know. 

I’ve been self managing since 2018 and paying token payments. I have total of £28k. 

M&S credit card (now with HSBC), Barclaycard (now with PRA), Santander (now with Moorcroft), First Direct loan (now with Wescot) and Bamboo loan (now with Lantern)  

Unfortunately I have recently been diagnosed with breast cancer and just starting my treatment. I had critical insurance cover which will pay off my mortgage and there will be some left over. 

I don’t know what the future holds and also have a 4 year old to think about. 

I don’t know whether I should just continue paying the token payments for now and just try and save some more money or to go for F&F settlements and see what discounts I can get and just get them cleared. 

If I go for F&F do I mention my breast cancer or not say anything and what discount should I start with?

I’ve never asked for a CCA from the credit card debts. Barclaycard was from 2003, Santander was 2010 and M&S was 2016. Should I ask for them? 

I would really appreciate some advice as having this hanging over me is causing me extra stress when I’m already struggling with my diagnosis, treatment and what I have to face in the future. 

Hoping someone could point me in the best direction. 

Thanking in advance of some help. 

I have moved your post to a new thread.

It can be found here -

Really appreciate some help here — MoneySavingExpert Forum

DFW_ASAP

What's people's experience on being able to get similar offers again in the future of you've declined them before.

I have 2 debts that are currently offering a full and final settlement at 32% and 35% but I was wanting to be at the 20% mark.

I've had offers accepted at 10,12,19 & 20% in recent months without doing CCA requests. 

I appreciate the 30% mark is still a good offer and of I don't get an improvement in next 12 months i may be willing to accept.... That's if they'll offer me the same discount again.