Full and final settlement help thread

debtermined

fatbelly said:

Nice to see this old thread again.

You won't get settlement deals on new undefaulted debts, or we'd all be doing it

It's nice of your relative to offer you £20k but if there's another way to sort this, they could spend the money on something nicer.

For now, claim UC and stop paying the debts. Presumably you are looking for work. When you find it, do a statement of affairs and see if you meet the criteria for a DRO. If you do, it's a get out of jail free card

So would it be worth a shot if I just waited a few months for the debts to fall into default? 

I am looking for work but not eligible for any UC due to my partners income (LTAMC policy from DWP)... 

Scammie

I have asked this in the main debt free board and then found this thread- hoping someone can advise. I am sending my F and F offers out and am on a Dmp with SC. Nationwide are refusing to accept my F&F offer saying that it has to come via SC. I’d much rather do the negotiations myself - has anyone come across this with Nationwide and is there an address I can write to - I can’t find one online 

stu12345_2

customer.services@nationwide.co.uk

Scammie

stu12345_2 said:

customer.services@nationwide.co.uk 

Thanks I did try that but got a bounce back 

sourcrates

Write to them.

TiredCat

Hello, brand new here and I have been following and reading and taking a keen interest so many posts on this subject that I am now wanting to post a question 🙂
I am in a DMP with PP and have been for over 20 years I think. I have 3 debts as follows
£16.5k BWLegal originally Lloyd's loan
£7.7k Lowell originally Halifax loan
£4.1k PRA originally Goldfish CC
I pay £42 to NW, £129 to Lowell and £70 to PRA. 
I want to offer a F& F to them all for 20% and did think about asking for CCAs but I get so stressed about it when I think about it as it can take so long and then would I have the courage to stop paying them 😔
I wondered whether if I said in my email that as the debts are so old and and not likely to finish paying for a while yet as I am 57 years old would this make them think a small settlement is better than risking me asking for the CCA. 
Has anyone had small successes with the likes or PRA especially? 
Thank you so much for reading 😁

stu12345_2

it will take you the same length of time to write  cca letter requests as it does to write full and final settlement offers request letters.

approx 3 minutes per letter max. probably takes longer to boil a kettle 

I would do the cca letters first, then give it a while, couple  months say for replies, then consider full and final offer letters if cca are found of 20% starting figure


if they are not  found they will offer you 95% discount, you need not pay them anything at all !!!


for all you know youre paying debts off that aren't even legally enforceable.and have been for a while at your detriment 

TiredCat

Thank you stu12345_2. Makes sense I'm just worried about the fallout I think but I know what you are saying 🙂

stu12345_2

what fallout, it's your legal right and a creditor  can not no longer be your friend lol. cos you asked them for a cca

you are a number on a screen to them, switch off TV tonight for 10 mins and write those cca letters imo, post them first thing in morning 

TiredCat

Thanks for the confidence boost, I'm worried about the phone calls and letters that may follow but I will give the CCA a go 🙂