Full and final settlement?

ollietatts

I was hoping some of you guys may be able to give me some advice on amounts to offer,
I owe link financial [alliance + leicester] £2400
and
Barclaycard £1300

Have any of you guys had offers accepted and how did you get on?
Thanks, ollie

KellsBells

Hey there, am considering doing this myself, but as yet don't have experience in this area, will be interested to see what someone who knows more says.xx

Glitzer

Sorry, no help here as I've never offered full and final, only taken it where able to. My last offer (I wasn't in a position to accept) was about 65-70% of the amount, although that was via a colllection agency.

HTH

x

10past6

It depends on how old the debt is

How much the debt is for

Whether the debt is "Enforceable"

Have you requested any CCAs for the debts?

ollietatts

the debts are 3+ years old, i havnt requested any CCA's [ what are they?]
Im with a debt company who dont really keep me informed of anything

10past6

3 years old, humm maybe the CCAs are valid

If I was you, I would request a copy of your CCA 1st and see if the debt is enforcable, use the following letter and send it of to who has the debt, at this stage don't bother saying anything to your DMP they don't need to know.

Loan or CC Company
Address


Your Address

Date

Dear Sir/Madam

Re:− Account/Reference Number XXXXXXXXXXXXXXXXXX

With reference to the above agreement, I would be grateful if you would send us a copy of this credit agreement.

I understand that under the Consumer Credit Act 1974 (Sections 77−79), we are entitled to receive a copy of our credit agreement on request.

I enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

I understand a copy of our credit agreement should be supplied within 12 working days.

I understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

We look forward to hearing from you.

Yours faithfully

ollietatts

Ok thanks but how does this help? sorry i dont understand CCA's

10past6

The CCA agreement MUST contain what's called "Prescibed Terms" if it does not, then the deb cannot be enforced, so basically if they do not have a valid CCA they CANNOT chase you for th debt.

This does not mean the debt goes away, just they cannot take any action against you.

For example, if they had NO valid CCA, then you can offer almost nothing for the debt to "Clear" it off.

ollietatts

Thankyou for your help 10past6 i really appreciate it, how likely are big companies like barclycard and link financial to not have a CCA?

10past6

It's hit & miss with these companies tbh, Link which deals with MBNA you may have some luck, but tbh it's guess work at this stage.

Once you send the letters they ONLY have 12+2 days to reply, that's working days, if they do not reply within that time they enter default.

10past6

When you include your £1.00 fee use a postal order and write on the back - CCA REQUEST