Reliable Collections Query

robsmum_2

Hi, wonder if anyone can advise me on this.

I owe JD Williams £148.00.This is the up to date balance. I made a payment tonight to bring the account up to date and the agent said if I paid tonight I could be offered a final settlement of £86.00.
This could only be offered there and then!

I couldn't afford to pay this amount and felt alarm bells ringing, so just said I couldn't do it.

Please could anyone advise me on final settlements with this company?

Fergie76

I would get any F&F settlement offer in writing, it's easy to say stuff on the phone, just to get your money and DCA's are renowned for lying.

mr.ton

These phone threat monkeys work on commission & will say anything to get a payment out of you.
Do not phone them again & refuse to answer security questions if they ring you.

hullight

mr.ton wrote: »

These phone threat monkeys work on commission & will say anything to get a payment out of you.
Do not phone them again & refuse to answer security questions if they ring you.

Ummm...then what?:rotfl:

OP if it's a full and final settlement in writing I would say go for it if you can afford it because it's a pretty decent discount. If not, just carry on your arrangement to pay.

If you offered a similar payment to the next person you speak to they would probably accept it, so might be worth trying again in the future if you can.

never-in-doubt

hullight wrote: »

Ummm...then what?:rotfl:

OP if it's a full and final settlement in writing I would say go for it if you can afford it because it's a pretty decent discount. If not, just carry on your arrangement to pay.

If you offered a similar payment to the next person you speak to they would probably accept it, so might be worth trying again in the future if you can.

Yes good points but the OP must make sure this is done in writing, all agreements (especially F&F) should be done in writing. Fergie is correct in that assessment, as for the rest (Mr Ton) - maybe not so

robsmum_2

Thank you for your replies. You have confirmed much of what I thought.
Strangely enough, the agent came up with this offer only after I had refused to set up a DD, refused to speak to Kensington (there debt managment dept) and
when asked the reasons why I said about Reliable Collections reputation!

I was concerned that it had to be accepted instantly and no offer of it being put in writing.
If in the future I am in a position to be able to pay this off quickly, I know to ask for anything in writing but could anyone advise please as to how I go about this?

Fergie76

robsmum wrote: »

I was concerned that it had to be accepted instantly and no offer of it being put in writing.
If in the future I am in a position to be able to pay this off quickly, I know to ask for anything in writing but could anyone advise please as to how I go about this?

When in a position to do so, write to them offering a F&F settlement of £x.xx. They will then write back either accepting (happy days), negotiating (they want £x.xx more) or flatly refusing your offer.

If you don't ask, you don't get. Go low, but also be realistic.

freyjavous

I received this from reliable collections....can anyone advise????




Dear Miss Smith

Thank you for your recent letter which we received on 1st June 2010, the contents of which we note.

This account was originally opened as a personal credit account on 11th April 2008 and was payable on a 28 day basis. Credit charges were applicable at the rate of 2.26 pence in the pound, (equal to 39.9% APR variable) every 28 days.

Since the account was opened 8 payments have been made to Viva La Diva to the date of re-assignment totaling £331
.16.

Please find enclosed a "True Copy" of your credit agreement, along with the current terms and conditions applicable to your account, to which you have agreed.

We have also enclosed an itemised breakdown of the account dating back to April 2008 when the account was opened.

When responding to a section 78 request, a lender does not have to provide a photocopy or other literal copy of the executed agreement nor provide a copy bearing or some other proof of the customer actual signature.

I also note that you have attached copies of previous letters that you advise were sent to us to advise a change of address. We have no record of receiving a notice or change of address, therefore, we continued in our duty to send out statements to the address that we had on file for you.

You have confirmed that you were fully aware that monies were still owed to Viva La Diva and we received no contact from you to advise that you were not in receipt of your statements. We remain of the opinion that it was your responsibility to ensure that payment reached the account using an alternative method.

Our records show that we received a payment of £510.00 by debit/credit card on the 24th May 2010, in full and final settlement of this account.

A letter of No Further Action was sent the The BCW Group to request that they cease all collections activity on this account. At this point a Notice of Correction was sent to Experian UK to record the account as settles on your credit file.

There is no legal requirement to provide you with a copy of the deed of any assignment. A notice from the assignee, The BCW Group, is sufficient under the Law of Property Act 1925 to require you to pay the assignee. This will not carry your signature, as debts are freely assignable without this.

As previously explained, this is not the same !!! issuing a default notice as defined under sections 88 of the Consumer Credit Act 1974. Any defaults, which we file with credit reference agencies, are filed in accordance with guidance issued by the Information Commissioner's Office. The term 'default' on credit reference files is used to refer to the situation when the relationship between lender and borrower has broken down.

We owe a duty to other credit lenders to ensure that the information lodged with the credit reference agencies provides a reliable reflection of an individuals credit standing and your request to have this information removed is therefore denied.

We trust that this clarifies our position.

Yours sincerely,