Full and final settlement help thread

fatbelly

You could potentially do either or both.

Yes, if you do a proper request under s77-9 of the cca, then the account is unenforceable until they comply.

I think the law is quoted in the standard letter

https://nationaldebtline.org/sample-letters/information-about-your-agreement-under-consumer-credit-act/

sourcrates

The 12 day limit is just guidance, in reality these things take much longer, months, even up to a year or more sometimes.
You are correct in that the debt remains unenforceable until they do respond, yes.

DjangoUnchained

sourcrates said:

The 12 day limit is just guidance, in reality these things take much longer, months, even up to a year or more sometimes.
You are correct in that the debt remains unenforceable until they do respond, yes.

ive been waiting over 5years for mine, what are the chances of them finding it now?

Rob5342

DjangoUnchained said:

sourcrates said:

The 12 day limit is just guidance, in reality these things take much longer, months, even up to a year or more sometimes.
You are correct in that the debt remains unenforceable until they do respond, yes.

ive been waiting over 5years for mine, what are the chances of them finding it now?

Probably quite small, but there is always a risk that they might find it and that should always be pointed out to people so they understand the risks of what they are doing.

DjangoUnchained

Rob5342 said:

DjangoUnchained said:

sourcrates said:

The 12 day limit is just guidance, in reality these things take much longer, months, even up to a year or more sometimes.
You are correct in that the debt remains unenforceable until they do respond, yes.

ive been waiting over 5years for mine, what are the chances of them finding it now?

Probably quite small, but there is always a risk that they might find it and that should always be pointed out to people so they understand the risks of what they are doing.

I presume there isnt a physical copy as i think it was done online, so its possibly just a computer entry somewhere?

xgingerx

DjangoUnchained said:

sourcrates said:

The 12 day limit is just guidance, in reality these things take much longer, months, even up to a year or more sometimes.
You are correct in that the debt remains unenforceable until they do respond, yes.

ive been waiting over 5years for mine, what are the chances of them finding it now?

1 more year and it will be statue barred anyway if you haven't made any payments towards it 

DjangoUnchained

xgingerx said:

DjangoUnchained said:

sourcrates said:

The 12 day limit is just guidance, in reality these things take much longer, months, even up to a year or more sometimes.
You are correct in that the debt remains unenforceable until they do respond, yes.

ive been waiting over 5years for mine, what are the chances of them finding it now?

1 more year and it will be statue barred anyway if you haven't made any payments towards it 

yes, a matter of months really. I certainly wont be reminding them that im still waiting

cheeseball73

Hello - I'm looking at the National Debtline template letter and wondering what to include as to reasons why I cannot pay as normal. My DMP suggests it will be another twenty years to pay off the debts in full at the current offer rate, but I'm not sure if this will work? 

sourcrates

cheeseball73 said:

Hello - I'm looking at the National Debtline template letter and wondering what to include as to reasons why I cannot pay as normal. My DMP suggests it will be another twenty years to pay off the debts in full at the current offer rate, but I'm not sure if this will work? 

You don`t have to give any reason why you want to settle a particular account, if you don`t want to.

Just roll the dice and see where it lands.

In your particular case you could say that -

"a 20 year DMP is far too long realistically, so it would be beneficial to all concerned if you would accept my offer to settle this account".

You don`t need to go into intricate detail with this part.

fatbelly

Yes. Simple commercial decision. Payment  of 1/240 of the debt each month for the next 240 months or 1/3 (bit less if you want) of the debt now and call it quits