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Full and final settlement help thread

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  • Weggy
    Weggy Posts: 462 Forumite
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    Just reading Martin's weekly email, and noticed that this thread is "Debt Free Wannabe chat of the week" !!!

    Cool! Well done everyone for their contributions
  • Weggy
    Weggy Posts: 462 Forumite
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    I am more or less in your situation. My earlier post in this thread showed a mixed experience with DCA's. One (Wescot) offered me no f&f and I got a default. The other (Credit Solutions) offered me an f&F and I had the debt settled without a default. A DCA was involved in both cases. I found you could not get a f&f with the creditor directly. It is hit and miss.

    Roughly a default is issued after 3 months of non payments to the creditor. Your best bet may be to withold payments for 3 months, then suggest an f&f. You are more likely to get a default notice warning than an agreement to settle the debt. In which case make sure you have 3 months payments put aside and quickly pay them to avopid the default being registered with Experian etc.

    Westcot are well known for being stubborn <beep> !!! And they're very rude with it too.

    Defaults are funny old things. Two of my accounts were with Barclaycard. Entered into a reduced payment agreement with them of £5 per month, which went on for nearly 5 years. However, they didnt issue a default on either of the accounts, and the credit record shows the last 36 months as payment on time (code 0)..... strange!
  • Weggy
    Weggy Posts: 462 Forumite
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    Hi to one and all.

    As you can probably tell, I have only just signed up to to this forum today. This was for the specific purpose of telling all you fraudsters who revel in the possibility of welching on the debts that you got yourself into oh so easily in the first place (going on expensive holidays, buying fancy consumer durables or treating yourself to some undeserved luxury that you couldn't otherwise afford) what decent people really think of you.

    If everybody only spent what they could afford and paid what they owed then everybody would benefit from lower charges and lower interest rates. I am fortunate in that I never pay interest on anything other than my mortgage (and even that minimised thanks to careful use of stoozing etc) but others are less adept with their money and suffer because of b*****ds like you. Ultimately you make things worse for yourselves and your children will not thank you for making them pay more in later life - but then I would guess that you don't care about them either!

    Hahahahahahaha now that's hilarious. :rotfl: :rotfl: :rotfl: :rotfl:
    You come on here protesting, and then tell us that you dont pay interest on anything and that you stooze. So, due to your stoozing, and you actually LOSING the banks money and lowering their profits, the banks have to charge higher fee's to young families etc to make their profit. I hope you sleep well at night!
  • MCBIRNIE25
    MCBIRNIE25 Posts: 555 Forumite
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    Hi to one and all.

    As you can probably tell, I have only just signed up to to this forum today. This was for the specific purpose of telling all you fraudsters who revel in the possibility of welching on the debts that you got yourself into oh so easily in the first place (going on expensive holidays, buying fancy consumer durables or treating yourself to some undeserved luxury that you couldn't otherwise afford) what decent people really think of you.

    If everybody only spent what they could afford and paid what they owed then everybody would benefit from lower charges and lower interest rates. I am fortunate in that I never pay interest on anything other than my mortgage (and even that minimised thanks to careful use of stoozing etc) but others are less adept with their money and suffer because of b*****ds like you. Ultimately you make things worse for yourselves and your children will not thank you for making them pay more in later life - but then I would guess that you don't care about them either!

    This made me laugh!!! Fraudsters? How are people fraudsters for exploring all options avaialble to hem?
    Buying luxuries? I think you will find 90% of debt on here is through buying necessities and surviving due to relationship breakups or similar.
    If everyone spent what they owed interests rates would be lower, ridiculous argument, the Government would put up interest rates, the economy has tob e funded through taxation and people spending money.
    Before coming on here with no brainer argumets, then think about what you are putting. This is a decent forum, where people help each other, then a sad lil !!!!er like you with no life comes along and posts something like this up just for kicks!!!! I wonder if your children will thank you for being an !!!!!!! and not teaching them that there are people out their in financial difficulties.
    Run along to whatever rock you crawled out of in Essex and don't come back.
  • Loopy_Laura_2
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    Hi to one and all.

    As you can probably tell, I have only just signed up to to this forum today. This was for the specific purpose of telling all you fraudsters who revel in the possibility of welching on the debts that you got yourself into oh so easily in the first place (going on expensive holidays, buying fancy consumer durables or treating yourself to some undeserved luxury that you couldn't otherwise afford) what decent people really think of you.

    If everybody only spent what they could afford and paid what they owed then everybody would benefit from lower charges and lower interest rates. I am fortunate in that I never pay interest on anything other than my mortgage (and even that minimised thanks to careful use of stoozing etc) but others are less adept with their money and suffer because of b*****ds like you. Ultimately you make things worse for yourselves and your children will not thank you for making them pay more in later life - but then I would guess that you don't care about them either!

    I think forums are great and a great way for people to get help and advice...though there is always one individual who wants to stir it all up and cause arguments! Notice the name of the forum 'Debt-free wannabe'...yes people may have made a few financial mistakes, but come on here to rectify those errors.

    Ner ner ner nerrrr nerrrrr.........
    :beer: Have champagne tastes...but got a beer budget!!:beer:
  • cxanimal
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    Hi,
    I`ve just spent a hour going through all the previous posts on F&F`s and also reclaiming excess bank charges. You have inspired me and I am going to finally attack my 39K of debt full on. And have printed out the first letter to reclaim unfair and excessive bank charges which I will hand in in about 1 hr.
    Thanks to you all and I will rely on this site for future assistance and will keep you up to date on my progress.

    Thanks again.:mad:
  • Weggy
    Weggy Posts: 462 Forumite
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    cxanimal wrote:
    Hi,
    I`ve just spent a hour going through all the previous posts on F&F`s and also reclaiming excess bank charges. You have inspired me and I am going to finally attack my 39K of debt full on. And have printed out the first letter to reclaim unfair and excessive bank charges which I will hand in in about 1 hr.
    Thanks to you all and I will rely on this site for future assistance and will keep you up to date on my progress.

    Thanks again.:mad:

    Good luck! I've also just started looking into claiming back excessive bank charges..... I'd recommend everyone here tries it too, even though we have defaults and F&F's etc.... Be interesting to see how we all get on.
  • tawnyowls
    tawnyowls Posts: 1,784 Forumite
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    Hi to one and all.

    As you can probably tell, I have only just signed up to to this forum today. This was for the specific purpose of telling all you fraudsters who revel in the possibility of welching on the debts that you got yourself into oh so easily in the first place (going on expensive holidays, buying fancy consumer durables or treating yourself to some undeserved luxury that you couldn't otherwise afford) what decent people really think of you.

    If everybody only spent what they could afford and paid what they owed then everybody would benefit from lower charges and lower interest rates. I am fortunate in that I never pay interest on anything other than my mortgage (and even that minimised thanks to careful use of stoozing etc) but others are less adept with their money and suffer because of b*****ds like you. Ultimately you make things worse for yourselves and your children will not thank you for making them pay more in later life - but then I would guess that you don't care about them either!

    My, you're a little charmer, aren't you? Talk about kicking people when they're down. I don't pay interest either, matey, and all my spare money goes towards paying my mortgage off early, and I expect to be mortgage-free by the time I'm 43. Despite me thinking I was doing pretty well, I've still managed to pick up so many tips off this board that just last year I saved about 2K in total. Just for that reason, I feel kindly towards people on this board, never mind the fact that I'd empathise with them and try to help just because they're fellow human beings. Admittedly, I do get a little annoyed when bankruptcy is mentioned as the first port of call - I really do feel that people have a moral responsiblility to pay back at least some of their debts - but I wouldn't castigate someone for whom that was the only solution. So people here have made mistakes - so what? At least they're facing up to it. Who's perfect in this world? A bit less judgement and a bit more help, and the world would be a nicer place to live in.
  • Metropolitan_Anthony
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    I won't lose any sleep over being called a fraudster and a b*****rd.

    The truth is that we live in a 'dog eat dog' world. Governments, individuals and organisations behave in an expedient and amoral way. Pension schemes are closed by governments and companies, forcing us to work towards our seventies. Decent young female students are forced to secretly prostitute themselves to meet government backed tuition fees. Railway companies cut maintenance costs, kill passengers and then fight in the courts for years to avoid making compensation payments. The elderly, having played by the rules and lived a debt free life all their working lives, find themselves mugged by the health service they thought they could trust and at the mercy of a care industry more interested in grabbing their properties arfter they die.

    Many on this site are in trouble after losing their jobs or losing a partner in a relationship. My story is that I was made redundant after 9/11. Before losing my job I behaved in a responsible way, repaying the capital and interest on all my debts. After losing my job, unable to find work, unable to meet my mortgage interest, with the inland revenue at my door and with mounting credit card debts I was taken to court by my building society. I was a cigarette papers width away from losing my home. At all times I kept in touch with my creditors who were no help at all.

    Thirty months on I am now back in work. I have repaid all my mortage arrears. I have now saved enough to be in a position to make offers to my all lenders and get myself out of debt. The truth is I am very unlikely to be able to make f&f settlements to more than a few of my creditors. I will probably settle in full with most of them. They will have got as much out of me as I have out of them.
    It's no use saying, "We are doing our best." You have got to succeed in doing what is necessary. Winston Churchill
  • Toto
    Toto Posts: 6,680 Forumite
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    And I would far rather live in a world full of Metropolitan Anthonys than a world of narrow minded bigoted 'I’m all right Jacks'

    Many people here have paid their creditors happily for many years, until as other posters have said; relationships break down, partners die, redundancy, and suffer failed business ventures (many post 9/11). The % of people who go out to welch on their debts is minimal compared to the people who are genuine and frankly working their a*ses off to clear their debts.

    You sound just like a typical Sun reader who regurgitates uneducated garbage because they don't actually have enough life experience or intelligence to form a balanced argument.

    So toddle off on your merry way believing all debtors should be strung up... I quite honestly couldn't give a stuff what you think of me, as I am sure most on here don't. Go join a forum where people actually care what you think. I'm sure there is a BNP one out there somewhere; that would suit you well.
    :A
    :A
    "Everyone is a genius. But if you judge a fish on its ability to climb a tree, it will live its whole life believing that it is stupid" - Albert Einstein
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