full and final settlement offer - Connaght

Janjel

hi

Could you please give me some advise?

i wrote full and final settlement offers to all my creditors offering about 50% of debt to be paid within 7 days as I got a bit of money (not a lot). i offered connaught collections for my citibank loan £1500 of a £2900 balance. The origianal loan was for £4000 and about a years worth of payments paid off (only taken over a few years). I feel a lot of it is interest etc. They have declined my offer saying that they can only take 25% discount and that they want £2300 by next month or they will issue me with insolvancy notice. They have not contacted me for months - it was me who contacted them. What should i do? i cannot afford amount they are asking - it would clear off a number of other debts if i could but i prioritesed this company as they were highest.

Thank you

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GeorgeUK

I would write to them and request a copy of the customer credit agreement (CCA). When was the agreement taken out? Before April 2007?

Are there any charges on this account (not interest)?
If so, you may be able to claim these back.

Janjel

the agreement was taken out before 2007 - can i still ask for CCA? Do i ask Connaght for this and what if they produce it ok? I don't know how the who cca thing works. i am not sure of charges as cannot get breakdown of payments etc.