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Offered a Full and Final for £0... confused!
charlishae
Posts: 184 Forumite
in Credit cards
Wondering if anyone can help.
I have a CC with Barclaycard and have been struggling to pay the minimum repayments and so eventually defaulted. My account was passed to Mercers Debt collectors.
About 3 weeks ago I wrote to them offering a full and final of £1500 which is about 60% of what I owe.
Yesterday I get a letter in the post saying.... 'We are prepared, without prejudice, to accept £0.00 in full and final settlement of the debt, provided the payment is made by.' (this bit is left blank.)
Am I right in thinking they have made an error and probably sent me a template without editing the details? My account no., debt amount, and address are at the top of the letter.
I am tempted to write back with a cheque for £0!
What should I do now?
Thanks
I have a CC with Barclaycard and have been struggling to pay the minimum repayments and so eventually defaulted. My account was passed to Mercers Debt collectors.
About 3 weeks ago I wrote to them offering a full and final of £1500 which is about 60% of what I owe.
Yesterday I get a letter in the post saying.... 'We are prepared, without prejudice, to accept £0.00 in full and final settlement of the debt, provided the payment is made by.' (this bit is left blank.)
Am I right in thinking they have made an error and probably sent me a template without editing the details? My account no., debt amount, and address are at the top of the letter.
I am tempted to write back with a cheque for £0!
What should I do now?
Thanks
Stay at home mum and blogger who loves to earn money online! 
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Comments
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do it,
Dear mr barclaycard,
In response to your later dated (insert date) i agree with your settlement figure and therefore enclose a cheque.
Yours sincerely charlishae0 -
I would include a photocopy of their original letter also.0
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Thanks for replying both of you.
I think I am going to send them a letter and cheque for nothing! I imagine they will have a way to get out of accepting that but its worth a try eh.
I am going to send a photocopy like you suggested as I dont want to send the original as they will probably rip it up!Stay at home mum and blogger who loves to earn money online!0 -
charlishae wrote: »I think I am going to send them a letter and cheque for nothing! I imagine they will have a way to get out of accepting that but its worth a try eh.
Yes do this (I would too), but promise us you will report back and give us their response!
You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
This is the best thing ive ever read. Do it and they have no legal recourse!Debts at LBM (May '08) £5760 - Lloyds CC £4260, Lloyds OD £1500;Debts as of May 28th 2011:Santander CC: £0.00Lloyds OD : £0.00DFW Nerd #1247 - Proudly dealt with my Debts Olympic 2012 Challenge #12
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This is the best thing ive ever read. Do it and they have no legal recourse!
Are you sure about that? It would seem obvious that they have made a mistake and I wouldn't have thought that it would be binding.There's no sense crying over every mistake.
You just keep on trying till you run out of cake.0 -
They stated "without prejudice" meaning it couldnt be used in court, so pretty much worthless BUT worth a go.0
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meh, i got over excitedDebts at LBM (May '08) £5760 - Lloyds CC £4260, Lloyds OD £1500;Debts as of May 28th 2011:Santander CC: £0.00Lloyds OD : £0.00DFW Nerd #1247 - Proudly dealt with my Debts Olympic 2012 Challenge #12
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