Full and Final Settlement Sucesses

Skint_but_Optimistic

I began the process three months ago. I sent the initial letters, stating I was hoping to make f&f offers and that I wouldn't be able to settle in full. I gave a guide amount of what I thought I'd be able to afford. It wasn't far off the end amount. I backed up my letter with an income and expenditure spreadsheet, and invited the initial response by phone. I waited, until 2 days after the letters had been signed for and phoned up. Just chased a response and asked for a counter offer if initial offer was rejected. It took time to get the written responses.3 and 3 and a half weeks. I counter offered a couple of times to both until they settled. Any phone calls I asked and got proof in writing. It was worth it as we saved 14 k ! X

denzil13

Just finished our negotiations. Took 5 months but got there in the end. In order of settlements.

Nationwide(KPR)loan/7yrs old/balance £4500/accepted £1500/DMP was £30pm
MBNA loan/6yrs/520/300/45pm
Northern Rock(NRAM) loan/5yrs/4500/2350/31pm
LTSB loan/3yrs/4500/3400/22pm
LTSB(BLS) overdraft1/2700/2075/24pm
LTSB(Moorcroft) overdraft2/2500/1850/17pm
HBOS(Blair Oliver Scott) loan/3 yrs/4900/3275/35pm
Barclaycard/4yrs/1720/1050/10pm
Egg CC/6yrs/300/300/5pm
Total balance 26140
Accepted 16100

Best advice. Letters (template) followed 2-3 weeks later by phone call, be polite. Ask to be put through to recoveries (especially Barclaycard). Get the acceptances of settlements in writing. Don't give up....

bagpuss

Can anyone please let me know where I can find the template please? Well done DEnzil we are about to try and sort ourselves out as we have some money so hopefully we can get the same results fingers crossed!

lornz23

thank you everyone for your responces _ I still haven't heard back from any of mine but as soon as i do I will let you know how I get on. It is always good to hear that some people have managed to get rid of theirs on F&F! :-)

lornz23

Ok so I haven't had much luck as yet. Metropolitan collection haven't even written back to me - has anyone had any luck with these guys?

lornz23

Ok so I called them up and they said that they will only deal directly with the CCCS and will send all letters to them....how does this help me?! It means that I won't know if they accept or not in the timescale I have given them! has anyone else had this? They have refused one offer and said with the other one that they want to see my budget!

sickasachip13

Anymore news anyone - I was hoping for lots of positive stories :-) (not that I'll be in a position to offer F&Fs for many years to come....)!

gargrave50

Yes!:j

Buchanan Clark & Williams on a JD Williams account for £1009.65 - agreed settlement of £667 which was paid over 12 weekly installments.:money:

I have a few more in the pipeline with deadlines for them to respond of 20th September so I will post details if successful.

traveler123

Where is the template letter that everyone keeps going on about?

fatbelly

traveler123 wrote: »

Where is the template letter that everyone keeps going on about?

At the end of this factsheet

Factsheet | Full & Final Settlement offers