Full & Final Settlement Questions..........

Floating_2

Hi Carlos,

I started my offers at 20% of the balances, I know it's low, but I had to start somewhere and my relative doesn't have a huge amount of money to help me out. The first offers were declined so I wrote again offering the 25% which MBNA accepted, the others declined. Only make your offers in writing and remember to send them recorded delivery. I know many advise against dealing with your creditors by phone, but I did call them, but only to chase up their written replies to my letters.

I used the National Debtline Full & Final template letter.

Good luck

Floating xx

Floating_2

Hi Everyone,

Just bumping part of my original post.

Thanks again

Floating wrote: »

I wrote to HSBC about 6 weeks ago, or at least the advocate collecting the money on their behalf, as yet I have not heard anything back from them and am just wondering if there are any guidelines for the creditors relating to response time. I wouldn't be surprised if there isn't, but it would be good to know.

Many thanks

Floating xx

treblex33_2

aimingforadebtfreelife wrote: »

Full and finals can be hit and miss a lot if the time, heres my advice from once working for a debt collection firm:

Make an offer at the end of the month - reason being is that debt collection agencies have to report at end of each month to their clients what they have collected. If the figures collected that month are down they will accept lower offers to get the ££££s in.

Generally firms wont accept F&F's if the debt is still with them. Once it has defaulted and passed to a debt collection agency that is when you can start to make offers. I have successfully settled for 20% on an Abbey debt of £1840 (£368). Keep sending them a F&F each month. One day they will bite....

hi, sorry who did you send the F&F letters to abbey of the dca acting on their behalf? thanks

GeorgeUK

F&F letters should be sent to whoever you are making the payments to adn who is chasing you for the debt.

treblex33_2

George thanks for the repply,
I'm trying to read as many threads as possible to avoid asking questions that may have been answered.

Floating - sorry do you mind if I ask did you request CCA's at all before making the F&F offers?