No Response to Full and Final Settlement Offers

TheLostSheep

yes I did.

I've re-sent the original offer and will see where that gets me. I welcome your comments as obviously the account is not with a third party for example but there's plenty examples there to further emphasise my case for F&F.

TheLostSheep

This is apparently the definitive address to write Full and Final Letters to Lloyds..

Lloyds TSB
Customer Post Team
Full and Final Settlement Department

2nd Floor
Charlton Place
Charlton Road
Andover
SP10 1RE

TheLostSheep

Just a further update.

I actually managed to speak to someone at Customer Relations.

I've reluctantly agreed to go to Lloyds TSB Consumer Debt Recovery and basically default now on my agreement, agreeing to only pay £50 a month.

I could have gone on another repayment plan but at £200 a month and lower interest it wouldnt have helped too much as it would only have shot up again come October. I would only have put off the inevitable after 6 further months.

As I'm trying to negotiate full and finals, in particular on a £13k credit card debt, I am hopeful that this will help my case as I fully expect my first offer of 35% to be rejected.

vicxzy

Hi CG any news recently?x

shellyruby

cg81 wrote: »

I've just received the following reply from Barclaycard:

--

Thank you for contacting us.

Unfortunately, it is not in our policy to accept less than the full outstanding balance in final settlement of your account.

However if you wish to reduce the outstanding balance on your account, you can make a large payment to the account, which will also reduce your future minimum payments.

We are obliged to inform you that if you do not make payment in accordance with your monthly statement, this will result in additional fees being applied to your account.

Need help?
If you are having trouble making your payments, please call us, we want to help you through any financial difficulties you may be having.

--
I find the last bit quite ironic really! Do they really not settle full and final? Should I reply back offering them a revised higher amount say nearer £1000 and see what they say?

barclays are a law unto themselves... and they are talking rubbish when they say its not our policy to accept less than full balance....they rang me twice over a 4 year period offerring if i settled with them i could get xxx amount off..one of them was just over half of original debt...i couldnt afford or couldnt borrow at the time...when ive called at a later date to see what they would accept theyve been different amounts every time..

all of my smaller debts... every single one of them accepted and agreed full settlement on my credit account...when i checked all of them had account fully settled...i did mine all over the phone....the only one which didnt comply and wouldnt give me a penny off and still havnt marked it satisfied..[even though its been paid] was next directory...i know they say you shouldnt do it over the phone but my smaller debts worked out really well that way and managed to get a decent amount taken off...i told them i have xxx amount to share out between xxx amount of creditors and this is what i can pay to you and worked out fine...

in my experience barclays were willing to come down to a reasonable amount but couldnt afford it as this was biggest debt...they had agreed to mark my credit file satisfactory settled.
good luck.

TheLostSheep

vicxzy wrote: »

Hi CG any news recently?x

Yes - thought I'd update where I'm at with these:

Barclaycard
Sent them a second letter initially at start of May to ask them why they had refused. Basically got the same reply saying that it was not company policy. I kept the offer at 30%. I have since sent a further offer of 45% of the debt. I have amended my letter outlining a clear case as to why they should re-consider. The offer to them is now just over £1000 for an outstanding amount of £2400. Basically my situation is likely to worsen so have tried to be proactive now and seek to resolve this. Will see what I hear. I have also sent a CCA request to them but have had no reply.

Lloyds TSB
I now seem to be able to speak to someone in the UK and have a direct contact in Customer Relations. Whilst he is very helpful, it's the Financial Management Unit with Lloyds who deal with F&Fs and they don't speak to anyone over the phone (either internal or external!).
Lloyds have said verbally that they don't settle at less than 85%. My initial offer was 30% which was rejected. My latest offers to Lloyds are 45% again taking into consideration my circumstances.
Letters were sent back just today.

I'll update when I hear anything back. Obviously this has been a bit of a lengthy process but any negotiation is worth starting low. It's quite likely that my accounts will all go to third party and default with creditos selling them on at reduced rate. Ball is really in their court if they want to setttle now whilst I can.

The amount I have will soon begin diminishing. Hope this is helpful.

TheLostSheep

cg81 wrote: »

This is apparently the definitive address to write Full and Final Letters to Lloyds..

Lloyds TSB
Customer Post Team
Full and Final Settlement Department

2nd Floor
Charlton Place
Charlton Road
Andover
SP10 1RE

Oh and apparently they are based in Edinburgh with Card Services EH12 9DX - although that could just be someone else at Lloyds making an address up.

I've sent the same letter to Brighton, Andover and Edinburgh in hope someone replies!

TheLostSheep

A brief update.

Still nothing back from Barclaycard with regards my recent offer which is near 50% of the balance. I've queried the CCA and received a 'reconstitutued' version of original agreement. I have queried why they cannot provide me with a copy of the original. I'll see if I hear anything back with regards my latest offer.

Lloyds TSB seem as confused as ever. I can't seem to get a direct contact with this elusive Financial Management unit no matter how hard I try. I've sent two more letters back to them using the ANDOVER and EDINBURGh address.

mighty_morley

Hi there, have you got any more news about acceptance offers from lloyds and barclays? cheers