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is this full and final settlement?
VEDSAR
Posts: 14 Forumite
in Credit cards
I have made f&f offer to Kpr, and got this back:
Dear Mr R
Account Number:xxxxxxxxxx
Outstanding Balance:£1717
This letter confirms the agreement made with KPR Debt Collection to settle the above Nationwide Credit Card account
Account Number:xxxxxxxxxx
Payment Due:£637
Payment Due Date:17/09/2010
Payment should be made by the agreed date.
Cheques should be made payable to Nationwide Credit Card Services and sent to the above address quoting the account number.
On receipt of this payment,your account will be closed and an update sent to Credit Refrence Agencies to reflect the partial settlement agreed.
Today I phoned them and paid the amount by my other account.have l made mistake? ln future, can they try to claim rest of the money because it says "partial settlement agreed"?
Please some advice!!!!!!!!
Dear Mr R
Account Number:xxxxxxxxxx
Outstanding Balance:£1717
This letter confirms the agreement made with KPR Debt Collection to settle the above Nationwide Credit Card account
Account Number:xxxxxxxxxx
Payment Due:£637
Payment Due Date:17/09/2010
Payment should be made by the agreed date.
Cheques should be made payable to Nationwide Credit Card Services and sent to the above address quoting the account number.
On receipt of this payment,your account will be closed and an update sent to Credit Refrence Agencies to reflect the partial settlement agreed.
Today I phoned them and paid the amount by my other account.have l made mistake? ln future, can they try to claim rest of the money because it says "partial settlement agreed"?
Please some advice!!!!!!!!
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Comments
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Hold on to the letter and your bank statement showing the payment as you have legally cleared the debt and your default must be updated on your credit file to show a £NIL balance.
Given you've paid the amount shown on this letter, neither KPR nor any other DCA have any legal grounds whatsoever to collect another penny from you for this debt.
Well done, and good riddance to bad debt :beer:Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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Yes they do!
They have to mark the account as "Partially Satisfied" with a £0 balance, like this:
Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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l had another letter from them yesterday for different account:
Dear Mr R
Account Number:xxxxx
Overdrawn Balance:£2254
This letter confirms the settlement agreed on this account.
Account no:xxxxxx
Payment Due:£946
Date Due:17/09/2010
Once this payment has been received you will not be liable to pay back the remainder of the balance,the account will be closed and correct amendments will be sent to licensed credit reference agencies.
What is the difference beetwen those letters? I have paid both of them today. Are they going to send me any statements says that account balance =£0??0 -
The difference is that the first letter states you should pay Nationwide and the second one doesn't.
Other than that they are both offers of F&FS for reduced amounts. They aren't likely to write to you again confirming you've settled the accounts, which is why it's important you hold on to your bank statement to show that you have in case nationwide send any other companies after you and / or they don't mark your accounts with a satisfied (nil) balance on your credit file.Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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The difference is that the first letter states you should pay Nationwide and the second one doesn't.
Other than that they are both offers of F&FS for reduced amounts. They aren't likely to write to you again confirming you've settled the accounts, which is why it's important you hold on to your bank statement to show that you have in case nationwide send any other companies after you and / or they don't mark your accounts with a satisfied (nil) balance on your credit file.
Yes second one says that pay it to Nationwide aswell.SORRY,I DID FORGET TO WRITE THAT PART.:p
lm on DEBIT MANAGMENT PLAN at the moment. Cant remember when was the last time I received statement from nationwide or Kpr.
I gess that they will send one for each one now??0 -
Probably not off their own back but you can ask them to send you one and if they refuse you can get proof of all your transactions and correspondence by way of a Section 7 Data Protection Act request.
Debt collection agencies just want to get people off their books ASAP they aren't interested in much else, like sending statements etc.Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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No Izools it says satisified; not nil balance; its very clear to anyone credit checking you that the history is questionable.
Defaults are never marked as Current Balance: £0
They say either Current Balance £846 (or whatever) or Current Balance Satisfied.
Here's one that was paid in full for comparison:
The only difference between the two is the presence of a "Special Instruction Indicator" on the first example showing it was a partial settlement.
Both show "Balance" as "Satisfied". Defaults do not report settled balances as £0 or £NIL if they've been paid in full or otherwise
Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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so,can l say that its done and roll on to next creditor:T
or no?:(0 -
Yes you can :beer:Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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