Full and final settlement help thread

Stewart_78

Yeah, I'm thinking they have looked at their portfolio and are clearing out the dead wood. The debts they can't enforce and because it's token payments, probably can't sell on. I can't come up with a lump sum. Maybe I should write back and go in at 10% split over 12 months. Either way, I'm happy to keep on with the £1.

justtrying1981

Hi me again lol. Just wondering if there is anyone here who can advise me on trying to get a default notice placed on barclaycard account for a few years ago. Thank u

sourcrates

justtrying1981 wrote: »

Hi me again lol. Just wondering if there is anyone here who can advise me on trying to get a default notice placed on barclaycard account for a few years ago. Thank u

Unlikely with BC unless you don't pay them for 6 months or so.

justtrying1981

Ive gone months in past not paying them and for last 3 years not payed anything close to full monthly contract payments.

sourcrates

justtrying1981 wrote: »

Ive gone months in past not paying them and for last 3 years not payed anything close to full monthly contract payments.

Unfortunately they are notorious for this kind of thing, they still see value in your custom you see, and after your money troubles are over, probably want to keep you as a customer, the only people who have eventually been defaulted with BC are the ones who cease payment altogether, and wait until the debt has been sold on to a DCA, then made arrangements with them.

justtrying1981

My report is crap as they havent marked as ap just bb6 even tho they agreed to my 10 a month for 12 months reviewd every year. Im in worse position than some1 who makes no effort to pay.

sourcrates

justtrying1981 wrote: »

My report is crap as they havent marked as ap just bb6 even tho they agreed to my 10 a month for 12 months reviewd every year. Im in worse position than some1 who makes no effort to pay.

It can be very unfair, i agree, you could put in a written complaint, but as BC do this kind of thing routinely, I doubt you would get very far, but at least you could pass to ombudsman and they may be able to judge your case on balance of fairness, as that's the most important issue FOS look at, weather or not a creditor has treated you fairly, or not.

happy_bunny_2

Some get a good result on this, some don't.

A complaint then FOS referral if needed is worth a go.

nnop72

I have a couple of unsecured debts, which defaulted in 2011 and I have been making token payments on for the last couple of years due to lack of work, I was previously on a self-managed DMP.

one for £19000 (loan) - it is from 2009 and with RBS - I asked them to produce a CCA in 2011 and they were unable to do so.

another is for £9000 (credit card) and was sold on in 2013 to a third party.

I am in a position where I can offer £6k (21%) to try to settle these - do you think I have any chance of succeeding? Only one way to find out I guess, though I wonder whether anyone has any experience. Also, would I need to arrange this through a third party (eg CCCS) or can I make the offer directly?

Thanks in advance

H55555

Hi Everyone

In November last year i was in nearly £40k debts and after lots of negotiation over the past few months i am in circa £10k of debt! i can see light at the end of the tunnel!!

I battled quite hard with the various creditors and got them to agree some pretty good settlement figures so see below...

Settlement amount creditor
I paid 30% of current balance RBS/ Apex
I paid 46% of current balance halifax/westcot..
I paid 50% of current balance Barclays
I paid 35% of current balance nationwide/KPR
I paid 50% of current balance moorcroft/Halifac current

My advice to anyone going through this process is to stay strong and be persistent! Play each creditor against the other and say you only have x amount of money from your family and you will pay off whoever is the fairest with you!!

I did all my negotiation over the phone but i asked them to send confirmation in the post of the settlements. I was with a debt management company but i just called the creditors directly.

Keep a spreadsheet with all the creditors on and keep notes on what you said to each creditor and how much you offered etc.

Good luck to anyone negotiating... start small at like 20%!

I said that my parents have offered me some money to clear my debts so i can move on with my future and that i was worried about redundancies at work! If i got made redundant i would consider going to live abroad with a friend!!

Dont get disheartened.. see it as a positive that you are taking a step to changing your situation!

KEEP POSITIVE!!

I have a few questions which i would appreciate your help with...

1) HELP WITH IDEM
I have an account with Idem which was an MBNA card.. They are playing hard ball and they will not settle for anything less than 90%.. has anyone got any tips on getting a lower amount?
They are pushing me to do an income and expenditure form so do i HAVE to do this??

2) HELP WITH DEFAULT DATES
i have checked on my Nodle account the dates i was defaulted and these range from May 2015 to Feb 2013 which is VERY annoying! Is there any argument to have with the creditors who defaulted me nearly 2 years after from when i stopped paying?? What date is the default date??

3) HELP WITH MINT AND ULSTER
i have 2 accounts with the RBS which are Mint and Ulster and they havent yet been passed to a new debt collecting agency yet but i am in collections with RBS. I have called them several times to try and negotiate with them but the lowest they would take is 75% and i dont have this money to pay them... I have contacted the RBS CEO to complain so i will let you know how i get on!!!
Any other tips?

I have some money left to agree settlements but i cannot afford the settlements i am currently been offered!

thanks

x