Settlement to call it quits

Crisp_£_note

Hi

We had an unexpected visitor yesterday at the door, it was a man from Nationwide Credit Card. He came round to try and help me sort my debt out.

He has basically suggested I make them a sensible offer of a one off payment and if they agree they will accept this and wipe the rest of the debt, and that will be the end of that.

He suggested I had a word with my other creditors to see if they would accept such a deal as they are always happy with a small portion than nothing, especially if financial situations dont look likely to improve for a year or two as they won't accept token payments for this length of time, theyre for intermediary issues really.

CCCS have advised either to carry on the £1 token payments or a DRO, but they cant offer me a DMP as we have £9 spare after priority bills, before creditors debts even before food !

How much would a reasonable offer be? Bearing in mind I only have benefits to survive on. I cant do all creditors at once obviously but could possibly do one every other month, depending on amount agreed.

Anyway he is expecting me to call him with my decision if I wish to proceed and a figure early next week.

Thanks

chattychappy

Crisp_£_note wrote: »

We had an unexpected visitor yesterday at the door, it was a man from Nationwide Credit Card. He came round to try and help me sort my debt out.

If someone "unexpected" turns up at my door, I don't let them in and certainly wouldn't discuss any financial information with him.

If you need "help" to sort your debt out, I think you should be the initiator - ie you approach or continue with one of the agencies referred to on the board as it appears you have done.

I'm worried you are at risk of being scammed ...

KILL_BILL

isnt there regulation that they have to write to a debtor first before making an unannouced visit.

if you are mnaking £1 a month then thats all you should be making

these debts are NOT priority debts

even if you have £9 spare then you need to have something as an emergency if someone happens

thats what i did but you dont need to disclose this fact to anyone

fermi

If you are in a position to make an offer, then you MUST get acceptance of it in writing directly from the creditor.

The word of a doorstop caller is NOT good enough.

I've seen way too many threads on DFW where people have made a similar agreement verbally only to later find people chasing them for the remainder. :eek:

Before you accept an offer you MUST have it in writing that:

a) Your/their offer is to be accepted as "Full & Final Settlement" and you will have no further liability for the debt.
b) The entries on your credit references should be marked in some way to indicate that the debt is settled/satisfied or partially settled/satisfied, with no outstanding balance.

Please read this National Debtline factsheet on making these offers.

Link: Factsheet | Full & Final Settlement offers

Crisp_£_note

KILL_BILL wrote: »

isnt there regulation that they have to write to a debtor first before making an unannouced visit.

That's what I thought. We haven't had any letter yet and I have been ignoring the phone calls but we didnt get a message from Nationwide if they did call.

If he had come 10 mins later we would have been out. Thats how we caught him, hubby was on his way out the door to unlock the car as it was raining as he approached the doorstep!

Man asked for me with correct first but wrong surname hubby said theres no one with that surname here and the man corrected it. Hubby asked what he wanted and man said she will know why I am here! Hubby said he didnt even say where he was from, he only knew by the badge he was wearing as it said Nationwide. By this time it was too late o avoid him as I was on my way out as well, thought hubby was talking to neighbours. After I thought I should have requested he make an appointment to see me another time, but it was too late then as I say it was after he had left!

Now I am not sure how to proceed, to carry on as I am and forget he ever turned up or maybe 'report' him, or carry on and get info confirmed in writing.

:eek: The thing that worries me most now is he took a note of our home phine number on paper but put hubbys works number onto his mobile phone, he said he would send a message through with his info as easier than remembering it.

:eek: That and the fact he turned up unexpected has made me scared and suspicious. DOnt want him coming knocking when hubby not here or harrassing us by phone

Thanks for replies so far.

CLAPTON

fermi's advice about ensuring everything is in writing is very sound.

I am however, curious as to how you will be able to make F&F offers every month or two but can't pay the regular minimum payments.

Crisp_£_note

CLAPTON wrote: »

fermi's advice about ensuring everything is in writing is very sound.

I am however, curious as to how you will be able to make F&F offers every month or two but can't pay the regular minimum payments.

I will put small amounts aside from benefits and live on basics food for a short while also sell a few bits if I find anything worthwhile other than things we need ourselves, therefore setting aside some money, not much but whatever it takes we will raise it somehow. We may be able to get the occasional meal from family or friends if necessary.

We can do this for short spells just not longterm / forever.

Thanks

digitalphase

Gosh, alarms bells are ringing for me :eek: I think it's very odd that Nationwide would send someone round to your house to discuss your debts. I suppose if they had notified you in letter prior to him coming out then it may make more sense, but it still sounds very strange.

I think you should ring up or go into your nearest branch and verify that this man is who he said he is. I wouldn't go on just the badge - it wouldn't be hard to make a badge up.

Did he know all your account details? Odd that he got your surname incorrect as well! :eek:

thriftymomma

They don't really just send people round to your house do they? ;-s I would definitely be verifying with branch that this chap is who he says he is.

Crisp_£_note

Hi

Quick update to those who are interested:

I haven't done anything about this so far. Looking at it again not only do I feel I can't raise that amount in a short space of time, I have cut back already and to be honest we are living on a bare minimum as it is and thats even before our 'priority debts' are paid, we have a surpless of just £9 a month, which as coincidence has it is £1 per creditor for me

The man hasn't, as far as I am aware, tried to contact us again to chase an answer or payment.

I am reluctant to contact Nationwide branch about it as I am avoiding all phone calls and dont want to stirr up any more problems for myself.

Thanks

Crisp_£_note

:eek: I have just had a phonecall from the man who came knocking at our door, luckily I let the answer machine cut in.

He has asked me to call him back.

But I am reluctant to as I still haven't had any comunication from Nationwide to say he is actually acting on their behalf.

What do I do now? Should I call him back or ignore it?

I am so worried