Think Ive made a blunder- help..

EstellaK

Hi
Ive recently been discharged from a trust deed so I sent away for my credit files to make sure everything was up to date
I found an entry on there from progressive financial services who are Welcome Finance. It was showing as defaulted but I was 100% sure it was in my trust deed so I got in touch with them.. It now seems as if it wasnt in my trust deed and they are saying that I owe them £991.
What are my chances of getting them to accept a full and final settlement for a mcuh lesser amount??. the orginial loan was for 12 x £60 which is £720 so they must have whacked on loads of charges.. They also havent been in touch with me for 4 years- although Im not denying that I owe them the money.
Has anyone had any experience of anything like this and whats your advice?

thanks
Stella

james32_uk

I'm sure you'll be able to confirm with your IP whether it ws included in your trust deed. It's more than possible Welcome Finance are wrong. If not then I guess you'll have to repay your debt. It'll certainly be worth pleading poverty and offering WF a F&F settlement after all this time as they've probably written your debt off internally.

EstellaK

Has anyone got any tips for writing a full and final settlement letter?
thanks

CLAPTON

this may be helpful although it's about england rather than scotland


http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

EstellaK

Thanks
Im waiting to hear back from my trustees but if it wasnt included in the trust deed , then Ill send one of these letters off

EstellaK

Hi
I got a letter back from my trustees today to tell me that welcome finance were included in my trust deed but never claimed any money. She also said that they cant pursue me for the money as they are bound by the terms.
Does this mean that they have to show the amount as settled on my credit file as the trust deed is now finished??
Thanks
Estella