1st credit - lowest full and final %

laguna_1

Hi All,

Whats the lowest full and final % anyone has had with first credit, when the CCA is unenforceable (they say they dont have it at the moment, its 10k of mbna debt originally

Is 10% too cheeky

Cheers

GeorgeUK

If it's unenforcable, then thery're luck you're making any kind of offer. Make sure to point that out in any letter though. Nothing like letting them know you're aware of your rights to make them sweat.

DarkConvict

I wouldn't know, i assuming your paying it off to prevent further damage to your file?

F&F offers are always estimates anyway.

laguna_1

ah so u think i shud write that within the letter also.....cud be a good shout

i posted earlier on hoping to clear most of my debts via a full and final, however unfortunatly the lump sum i was going to get didnt transpire

so now im hoping to try and clear the debts the big debts off first, which i can do with low full and finals from my pay and try to drop my total debt of 35k down as much as i can

so hoping for 1-2k i can drop 1st credit off the list. So the total debt will be 25k.

Then hopefully from my next pay cheque i will do this with some other sold on debts, and then i will enter a das to clear the rest of the debts off.

To be honest, ive not fully thought the long game out properly yet, very nearly signed a trust deed but after speaking to my hr dept at work lucky i didnt....as any sort of form of insolvency isnt ok with them. a das is ok tho.

yes i have been defaulted by mbna on this debt already but would like to clear 1st credit off my file to stop more markers goin on ( i presume they cant default me as you can only default a debt once i think).

they sent me a lettet saying they wud take 40% as a partial settlement...however i know. before that it was 50%, before that 70%. These have been coming thru since i sent the cca requests thru.

one problem is i only ever sent the first letter for the requests due to various reasons i never sent the follow up letter saying your now in default of my request and th like so not sure if i shud send those out first.

I sent the original cca request way back in march roughly.

laguna_1

also i have not paid them anything since oct 09, apart from £1 in feb when i sent a postal order ( i sent 11 £1 postal orders asking for 6 month period of reduced £1 a month payments, but havnt paid this again so in terms of negotiation, think this will be quite good)

only thing im worried about is getting a ccj from the other debts, hence the reason i want to do a DAs

but as in dad u need to pay the full amount, id rather reduce the sums owed in it.

Ticasabric

Are you offering to pay 10% of the balance as full and final settlement? If so then yes this might be a little cheeky. I have had offers from them in the past year of 50% as F&F, but recently this has dropped to a 30% discount. If I get the the cash together I will try for 40% of my balance as F&F settlement, maybe get 50%, probably 60%.

pepe2008

Dont waste your money. If its unenforceable, they've bought the debt at probably no more than 12% of its value as a gamble. Let them lose, use your money elsewhere.

WRINKLES

It sounds like your credit record is trashed already so why pay debts that are unenforceable

jadex

WRINKLES wrote: »

It sounds like your credit record is trashed already so why pay debts that are unenforceable

agreed,
OP, unless they agree to remove default in exchange for money, save your thousand for enforceable ones

Jesthar

If the debt is unenforceable (which Worst Crudite would have KNOWN when they bought it for a couple of hundred quid, no more) why give them even 10p, let alone 10%?!? Better to use this money on other debts than help these parasites make unnecessary profit...

For the record, I'm all for paying back debt to original creditors, but lowlife DCAs are another matter entirely... :mad:

~Jes

laguna_1

hi folks, sorry for the late response. i think your right, to be honest i think id have more comfort knowing 100% that the agreement are definitely not enforeceable..as all the creditors are still threatenng court action..

i will set up new posts with scans of the agreements to see what you guys think and take it from there.

would be good not having to pay debts that aernt enforceable....do you guys still constantly get letters and chased for debts that aernt enforeceable or have you agreed withthe dca's that they aernt enforceable and they have now pretty much left you