If you don't ask, you don't get!

xnatalie81x

I just saved £10 off my moorcroft debt. I got some money from my parents for my birthday and decided to pay off my debt with them for an old phone bill. I rang and was a bit cheeky saying would they take £80 off my £90 debt and clear it for me for my birthday lol.

I know debt co's can do partial payments for the end of a balance but i've never tried it myself, just been offerred it from other companies. I am soooooooooooo chuffed. tha t£10 can now go towards another debt and i still have a lil left-over from my bday money :beer:

ScattyNat_2

Well done you! x x

afterglow_2

im gonna really be cheeky to lloyds when my loan finishes, see if i can get away with no early settlement fee, will threaten to take my money elsewhere if they charge me!!!
well done for that!!

xnatalie81x

That is what i said, that i could put the money towards antoher debt but i'd rather use it with them so i can wipe one off my list - it feels great to wipe it off my list of debts. Just need to decide what to do about debtcare now.

thepinkladez_2

well done! :beer:

dont want to wee on your bonfire or anything but just a word of warning! please make sure you get any kind of agreement like this in writing as lots of companies say what ever you want to hear to get you to pay up then accidently :rolleyes: forget to remove the remainding balance they said they would!

xnatalie81x

Didn't think of that - too trusting. Will do from now on. I learnt about this early balance settlement thing from an old gas bill i owed and they were really good co. and never had any probs so just assumed moorcroft would be same. I will be careful from now on. I'll get the persons name and record the call in my growing moneysavingexpert folder lol

Numpty_Monkey

To go along with what thepinkladez has said
you must do it in writing for offering "full and final"settlements
Do nottrust these companies

There is a templete letter on offering F&F
i'll try to find it

Damita

Well done

Numpty_Monkey

From National Debtline


FULL & FINAL SETTLEMENT LETTER FOR ANY DEBT

Your Name:
Your Address:
Date

Name of Creditor
Address of Creditor

WITHOUT PREJUDICE

Dear Sir/Madam
Re: Account No/Reference No:
I write with reference to the money which you are claiming on the above account.
I can confirm that I am unable to offer to pay the money which I owe in full (Add details of your circumstances and financial situation). However, I can raise £ (put the amount which you can afford to pay) and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.
I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full.
Payment can be made within (put the number of days or weeks within which you will pay) of receiving your written agreement of this offer and method of payment.
I look forward to receiving your reply.
Yours faithfully
(Your signature)

Broken_hearted

Pleased for you next time though offer half and see what offer they come back with.