Full and final settlement help thread

DFW_ASAP

Cash_Waster said:

Cash_Waster said:

After 5 weeks, I am now starting to get my "enforceable" letters back.  PRA say this reconstituted agreement is enforceable.  I can not see my date of agreement, my personal credit limit or personal APR.  They all seem generic.  Can someone tell me if I am wrong please.  Would the experts on here accept it?

Thanks people

https://imgur.com/a/PP6dHd4

https://imgur.com/a/BOAqJc2

Can anybody shed any light on if this mets the CCA request?

ta

I've had the exact same letter and would be interested to know if it stands. Would appreciate your thoughts on whether it is enforceable. @fatbelly @sourcrates

Cash_Waster

DFW_ASAP said:

Cash_Waster said:

Cash_Waster said:

After 5 weeks, I am now starting to get my "enforceable" letters back.  PRA say this reconstituted agreement is enforceable.  I can not see my date of agreement, my personal credit limit or personal APR.  They all seem generic.  Can someone tell me if I am wrong please.  Would the experts on here accept it?

Thanks people

https://imgur.com/a/PP6dHd4

https://imgur.com/a/BOAqJc2

Can anybody shed any light on if this mets the CCA request?

ta

I've had the exact same letter and would be interested to know if it stands. Would appreciate your thoughts on whether it is enforceable. @fatbelly @sourcrates

This is what i am thinking. They are just sending a stock response with name and address changed and calling it a cca. 

If more people are getting the same thing, we know its not compliant

fatbelly

I don't like proclaiming something compliant or not - there have been websites that specialised more in that sort of thing.

But I have taken a look at those documents and there seems a lack of personalisation.

The FCA say that it must involve 're-populating a template of the relevant agreement form with the details of the specific agreement taken from its records.' and 'The terms and conditions should be those applicable at the time the agreement was executed. The name and address at the time of execution must be included.'

https://www.handbook.fca.org.uk/handbook/CONC/13/?view=chapter

FeelingFeline

I have just received a significant benefits backpayment and would like to make some F+F settlement offers to my creditors. On my Clear Score credit report all 6 accounts are shown “In Default” and have no data in the payment history for the last 6 years. For the Mortimer Clark debt there is missed payments shown in early 2017.  All accounts defaulted Mar-Aug 2017.

 

Current Debts

PRA – Barclaycard           3,700

PRA – RBS                       2,500

PRA – RBS                        950

PRA – RBS                        700

Lowell – Tesco                   450

Mortimer Clarke Solicitors 700 

Total                                9000

 

I also have a postgraduate loan of £7.5k which has a 4.5% interest rate, which I would like to at least pay off an overpayment of £1.7k.

I am after some advice on my situation.

 

1.       Should I clear the Mortimer Clark debt first as there are missed payments showing? In full.

2.       Would it be better to  clear the smaller debts in full and then offer a reduced amount for the two largest debts?

3.       Or attempt to negotiate a lower settlement for all debts?

I living in social housing so am now to concerned about a future mortgage but might need to borrow money in the future to buy a ‘new’ car.

Thanks in advance.

fatbelly

I don't see a reason to treat Mortimer Clarke preferentially. I'd make settlement offers to all, even if you don't have the funds to do so. Start low and see who bites,

BlueJ94

LexieLou said:

Hello Lovely People

I'm in the very lucky position where I can pay off my debt in full, but as my credit rating is shot, I'm tempted to offer F & F especially as I've been getting letters of F&F from people.  

Does anyone know how long this process takes?  Can you call them up and ask over the phone, or is it a lengthy back and forth while they make up their minds?

Thanks

LL

Depends who the company is. Some got back to me within 24 hours, vanquis I phoned and they counter offered same day.  

jon0108

Hi, 
I've been on a DMP long term with stepchange. I started on 50k now down to 7k but taken years.

Just wondered if I was likely to get better F&F offers if I go self managed. I have tried in past but only every seem to get offer 80% or higher. Just desperate to get done as soon as I can and fading a little.

I have 5 accounts left all with Cabot and Mortimers 

Thanks. Jon

KatieAnne

So after great advice from fatbelly, I sent an email to PRA,

This is what they have replied,
What are they actually asking ?

I have offered them 25%, family member offering to help settle debt,  using the Debtline template, why do they need to add a Third Party Authorisation ?

Thank you for getting in touch!

So we can help you, and just to make sure we are speaking with the correct person, could you please give us the following details:

• Your dates of birth

To be able to reply with the information you requested i would need to add Third Party Authorisation on each of your accounts to release personal financial information in accordance with Data Protection Laws. 

We’ll be happy to update our systems to show that we can also speak to another person about your account; we just need you to give us some details. 

Could you please give us the below information about the person you’d like us to speak to. 

• Name
• Date of birth
• Address
• Relationship to you
• A password they can give us when they contact us on your behalf 

fatbelly

It sounds like they think you want someone else to represent you.

Did you ask for that?

KatieAnne

fatbelly said:

It sounds like they think you want someone else to represent you.

Did you ask for that?

We are getting advice from National Debtline on dealing with our financial situation and choosing the right debt solution for us.

(Please note, all further correspondence should be addressed to us. National Debtline are a self-help agency and are not acting as our representative).

Have they got confused with the above ? x