Anyone have any info?

Me_Myself_2

Firends F&F - Deleted at their request

Addicted2Chocolate

If you cant pay in full then you need to say that in the letter and saud £8000 is the final offer, and that if not accepted the funds will not be made available by the 3rd party. What are your other debts? and what assets do you have? after all if they want they coud issue a statutory demand then bankruptcy petition....

fatbelly

If you can justify the £20 per month payment on a financial statement, I would restart the payments and send them the statement. That makes the choice more stark: accept £8000 now or £20 per month for the next 65 years!

They could only issue a statutory demand (or any other enforcement method) if you default on a county court judgement and (hopefully) any court would agree with your figures and give a judgement for £20 per month.

Of course this only applies if you can genuinely only afford £20 per month. Otherwise the issue is not so clear cut.

Me_Myself_2

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Me_Myself_2

If anyone has agreed a settlement with them I would be interested. My friends have been offered money by parents and have offered £10,000 on a £15500 debt. Will Egg/CSL accept?

Any inside knowledge gratefully accepted.

earthboundboy

Egg are thoroughly appalling. We owe them about the same (though on a personal loan) and they rejected our payment offer of £82 a month and went straight to solicitors (Shoosmiths). Now we have a CCJ and soon a charging order too.

They too ignored most of our letters, and you could never speak to the same person there twice. I can't work out whether this is a tactic (as they know they will ultimately have the upper hand legally - the court will take their word over ours) or they are just genuinely incompetent at every level. Either way they have made our lives a misery.

pennylane99

I have (or had) an Egg card. Lost job about 10 months ago and not paid anything to Egg at all for last 7 months. (balance now approx £11000)
Received letter last month saying they were passing over to debt collectors.
Then received letter from Moorcroft asking for full amount, or they were prepared to accept £120 a month to clear outstanding debt.
They also confirmed that if the agreed amount was paid on time each month, no interest or extra charges would be added to the outstanding balance.

Me_Myself_2

I'll pass on the horrible news

System

Me_Myself wrote:

An update on our offer to Egg/CSL. They accepted our offer of £10,000 which we have paid an can now cross one more debt off our list.

Thanks again for all replies.

Did you get a letter from them detailing that the £10,000 was a Full and Final Settlement.

If you didn't, try and get something in writing. You do hear some horror stories on here.

Me_Myself_2

Friends F&F delete - at her request

beeniemac

If they have accepted a full and final offer, afaik, they have to mark the default as satisfied. Also, I believe they must issue with a receipt for payment confirming your account is closed.