Full and Final settlement

thepedestrian

Mercers / Calders refuse to send me a letter accepting the full and final we have agreed upon until after I have paid them - the last 3 times they have done this ,the letter turns up after the agreed settlement date - and they say that it will still be ok to pay as its a verbal agreement and everything is recorded !?

could it be that they have no intention of letting me off the hook with this one ( even though weve sweated blood to get this amount together )and once I have paid the lump sum with no paper agreement in sight, they will say "thanks for that" and come after the rest or sell it on ?!

what other possible reason can there be that they consistently cannot get a letter to me in 7 days ? ( we can only send 2nd class business post ) other than wanting me to pay before I have any written proof and then denying all knowledge of an agreement ??! :mad:

PNPSUKNET

say thats fine, do they have access to email. I would hold out their deadlines mean nothing.

Mr_Mag0o

thepedestrian wrote: »

what other possible reason can there be that they consistently cannot get a letter to me in 7 days ?

What is the reason behind the 7 day limit, if they are struggling to post anything other than 2nd class, then who's restricting the agreement to be 7 days?

It sounds dodgy to me, without something in writing stating it's a F&F I'd expect them to chase you for the remainder, or sell the debt on if they get your money up front.

Numpty_Monkey

Why don't you make the offer in writing to them
use the templete letter from
http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#4
"full and final settlement" template leter

Always remember a verbal contract is worth the paper its written on:mad:

A link to a thread started today
http://forums.moneysavingexpert.com/showthread.html?t=2344819

as to why it is very important to get things in writing

thepedestrian

Yes I did originaly send them the template ( and Barclays as well ,who owns the debt and the 2 mongrels Mercers and Calders ) so I guess they just got the taste of my blood as it were and are trying to pull this fast one on me - its a different operative every time and the last time I was on the phone for 50 mins with him!

its all a big con ! - they dangle a carrot in front of you hoping that you will take it with nothing in writing up front to cover you

all he kept saying was" I want you to show me some commitment Mr ~~~~"
so I reply " send me the letter then " and then he says " just give me your bank account details and I promise we wont take the money until you have the letter and are satissfied!"

the last Calders person told me exactly the same thing - promising the letter would be here 1 week after our conversation ( Monday ) and its still not here o Thursday !! ( probably never even sent one )

Thing is , I cant figure out the game play of it - they know that I have managed to scrape together 60% - surely if I dont pay this ,they will sell it on eventually for 10 / 15 % ? of its worth - cant see the logic,

I must be missing a piece of the puzzle !

anyone got it !?

thechippy

Some good points.

I think they never want to confirm the f&f in writing, as it's a way of extracting some money out of you, but leaves the doors open to chase the balance later - basically they con you, using thier usual underhand scum tactics.....:mad:

skintandfat

Play them at their own game

Give them time limits- tell them you are finding things harder (financially) and you can not keep the 60% for more than 14 days.

After this tell them you will reduce your offer by 2.5% each time they fail to send a letter on time

Barclaycard offered me 70% off my balance just before they sold it on.
They refused to send me a f&f letter, but acknowleged that i recorded the call and were happy to continue talking to me on the basis that the call was still recording.
If I had the money I would have sent it then- circumstances have changed for the worse (only financilally- family life is better now we are more prudedent and dealing with things)

DGJsaver

Dont speak on the phone to these scumbags !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

thepedestrian

update - a letter came !

just the wording Im not sure about now ( it gives me till 24 march to pay )




" We are prepared ,without prejudice ,to accept £2,353 in full and final settlement of the debt , provided, provided that the payment is made by 24 March 2010

signed ( printed signiture )
Colin Rogers
Collections Manager "



What do you think ? - is it a runner ?

Only thing I can think of is that it does not state that credit file will be ajusted ( can live with that for 6 years I suppose - bound to pick up a couple more anyway, the way my finances are at the moment ! )

and it dosent specifically state that the remainder will not be sold onto a third party - but then if it says "prepared to accept £2353 in Full and Final settlement of the debt " - doesnt that cover that point ?

any thoughts, ideas , advice most welcome please - I would hate to pay these cretins after all the trouble and threats they have been giving us , only to find out they turned me over,after all

Regards

thepedestrian

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thepedestrian

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