f+f settlement,no cca's - wording of letter

johannab

LOL, I will send their letter asap then if they are currently in a generous mood!

never-in-doubt

DarkConvict wrote: »

MBNA did once accept 20% offer a few days ago, they are usually a !!!!!!.

Yea I heard they recently accepted a few low offers, but thing is they will never remove the default, the DCA will as they really couldn't care so long as you pay them back what they bought the debt for....

I have been dealing with something via PM (user does not want to be identified on here) and we recently managed to get the DCA to accept an offer of 20% plus an extra £250 if they removed the default. This was listed as a separate 'deal' so to speak - they complied, wrote out confirming acceptance and then removed their element of the default as agreed.

You have to be a cheeky sod in this game or the lenders/DCA's will eat you alive :rotfl: :rotfl:

charlie222

Could i ask how much your oustanding debt was

DarkConvict

The 20% offer was £2,000 on a £10,000 debt. http://forums.moneysavingexpert.com/showthread.html?t=2272875&highlight=mbna+20

johannab

Hi,Have done three letters ready to post and coincidentally this morning I got a letter from Calder Financial (barclaycard as I am sure you know!) offering me a settlement. They ask me to ring them (I will not) to discuss it.

I know its not much but its the first letter of its kind,normally their letters are quite threatening. Their settlement offer will be pretty dire, I am sure.

Are Calder an actual DCA or an inhouse agency? I will go ahead and send my 20% letter to them. It seems they may have realised that I am not paying a penny of the debt as things stand.

A little background info - All they have sent to my cca requests are generic terms and conditions. I am confident its such an old account that they have absolutely no paperwork. In fact ,this particular card was issued as an offshoot to a Visa I had with them and am pretty sure it was all done over the phone more than ten years ago.They agreed to give me a Mastercard but my existing Visa credit allowance would be shared between the 2 cards. It was a bit strange and pointless. I am also confident that the Visa cca doesn't exist either. Balance on this one is 2k,and on the Visa 6k. They havent begun chasing me for the Visa yet even though I stopped paying last July and its a much bigger balance.

DarkConvict

With regards to CCA side of things, if its not enforceable they do usually accept a lower F&F offer, however may i ask how come you stopped making payments back in July, did you lose your job at the time?

never-in-doubt

johannab wrote: »

A little background info - All they have sent to my cca requests are generic terms and conditions. I am confident its such an old account that they have absolutely no paperwork. In fact ,this particular card was issued as an offshoot to a Visa I had with them and am pretty sure it was all done over the phone more than ten years ago.They agreed to give me a Mastercard but my existing Visa credit allowance would be shared between the 2 cards. It was a bit strange and pointless. I am also confident that the Visa cca doesn't exist either. Balance on this one is 2k,and on the Visa 6k. They havent begun chasing me for the Visa yet even though I stopped paying last July and its a much bigger balance.

If they are unenforceable or you want to pursue that route then read here: Unenforceability & Template Letters II

I'd seriously consider this prior to seeking F&F cos they are more likely to accept based on the fact they know the account is unenforceable. However, if it is unenforceable then you really don;t have to pay anything - a settled (F&F or paid in full) default entry really isn't that much different from a live default.

6 years is how long the defaults will last, whether you make a settlement agreement or don't pay at all (if unenforceable)... i'll help with that, if you decide to take that approach - here: Unenforceability & Template Letters II

johannab

hi again,

I have done all the cca stuff and been back and forth with dca's etc and was thinking of the F+f's just to be able to move on from it all.I have made it clear to all of them that I believe them to be unenforceable and that I shan't be making payments any longer.

I see your point about the live defaults and settled ones. I have even asked the 3 defaulted ones for proofs as I don't recall receiving notice of them. None of them have responded in regard to the issued defaults ( in 2007 when I got into difficulty).Maybe I should take up the Default fight properly.

As for the f+F's ,its a bit of a quandary as I don't want more defaults issued (3 accounts have yet to default me since I stopped paying last July,mbna and barclaycard x2) but I also don't want to waste my money paying something that I ultimately do not have to.

billl111

Hi All, just a bit of advice needed on F&F's. I've gone down the CCA route with my credit card and i went 4 months without paying them to get a reply to my request. They confirmed in writing they did not have a CCA. I'm now paying the monthly minimum to try and repair my credit rating.(no default was issued). The reason behind the CCA was they upped my interest from 24% to 34% and when inquired why they refused to answer. I currently owe £4000 and was wondering would i be able to offer a F&F without no default being issued or do they only negotiate after they have ruined your credit ratings.
Many thanks.

DarkConvict

You know you could have prevented the rate increase from 24% to 34% - http://www.moneysavingexpert.com/reclaim/credit-card-interest-rate-increases

Without a CCA, they can still issue defaults and late payments. They are more likely to accept a Full & Final offer if they do not have a CCA, you could word the template that as you are aware you do not have a CCA to enforce this account so i making voluntary payments, I do not wish to shy away from my responsibility even though my circumstances have changed for the worse so it is becoming more difficult to make payments, as a reprieve a friend has offered ... *make offer here as full and final.