Full and final settlement help thread

crystal_pixie_2

Just wanted to let people know that you can negotiate with an original creditor. I managed to negotiate a 50% settlement with Santander for a front loaded loan from 2007.

However, I might add that was with a nudge from FOS who were happy to forward on my full and final proposal after I complained.

However, one thing - Santander have told me that I won't get a letter confirming the settlement until the cheque has been recieved, does that sound right?

I do have the confirmation in an email that was sent to FOS initally. Would that be considered a good enough paper trail?

Lynny12

Hiya,


I need some help


I have been working with step change for years now and have paid off £12k I have left £5652


Moorcroft 2940
Barclays 1406
capital one 1306




I think I can pull together about £2000 do you think it is worth making offers to them? if so how much do you think?


I just want these debts gone!

glentoran99

Lynny12 wrote: »

Hiya,


I need some help


I have been working with step change for years now and have paid off £12k I have left £5652


Moorcroft 2940
Barclays 1406
capital one 1306




I think I can pull together about £2000 do you think it is worth making offers to them? if so how much do you think?


I just want these debts gone!

If its any help I got a 1900 settled for £500 with red castle

shinner

My barclaycard of 3495 was settled for 1300

takename101

I've been speaking to my creditors and have managed to get them to accept a full and final offer at 75%. They will mark my credit file down as "partially satisfied" though and cannot seem to get them to budge to "fully satisfied". Is this acceptable? How would this affect my credit score in the future? Debts go back to 2010.

double_mummy

takename101 wrote: »

I've been speaking to my creditors and have managed to get them to accept a full and final offer at 75%. They will mark my credit file down as "partially satisfied" though and cannot seem to get them to budge to "fully satisfied". Is this acceptable? How would this affect my credit score in the future? Debts go back to 2010.

pretty much everyone does this now
partially satisfied is better than defaulted but worse than satisfied

75% still seems pretty high when were they defaults? are they still with original creditors? have you CCa them?

glentoran99

having gained some hope after my first creditor settled at around 25% a little bit downhearted that 2 of the other three wont entertain anything less than 80% and the 3rd hasnt replied

happy_bunny_2

glentoran99 wrote: »

having gained some hope after my first creditor settled at around 25% a little bit downhearted that 2 of the other three wont entertain anything less than 80% and the 3rd hasnt replied

Try again in a while.

Near the end of the financial year may get you a good offer if they are a bit short on making their numbers.

blue_pixie

Hi there everyone lots of knowledge on this thread! Just wondered does anyone know if it is worth going for f+f on an energy default that is sitting with a DCA? Also has anyone ever managed to get a f+f marked as satisfied? Many Thanks DFW'S
B.P
Sorry an extra wee question... Is it possible to start building credit worthiness with partially satisfied defaults on your file?

fatbelly

blue_pixie wrote: »

Hi there everyone lots of knowledge on this thread! Just wondered does anyone know if it is worth going for f+f on an energy default that is sitting with a DCA? Also has anyone ever managed to get a f+f marked as satisfied? Many Thanks DFW'S
B.P
Sorry an extra wee question... Is it possible to start building credit worthiness with partially satisfied defaults on your file?

It's yes to all 3 questions.

However

If the energy debt is still owned by the energy company (i.e. the DCA is referring to them as 'our client') then you are not likely to get a big discount from them

There are people on this site who have asked for and got a satisfied marker on a F&F settlement. But it's rare.

A partially settled default is better than an unsettled one but its still a default. Other factors such as being on the electoral roll and one or two well managed credit accounts could improve things a bit.