Urgent help needed for F&F offer.

Bliss_Butterfly

neverbefore2011 wrote: »

I think you should add a proviso that, in addition to the credit reference agencies, Shoosmiths, Arrow and NatWest should all clear their records of any reference to you or your failure to pay more than 50% of your debt.

Then you will be able to immediately apply for a new credit card with, say, a £3000 credit limit, and go through the whole process again, thereby giving yourself £1500 to spend on shoes!

Thanks for the tip, if I ever sort this out I will never get in this position again.

Any other views?

Eonel

It would look better if you could get NatWest to make your credit record look like you made all the payments on time and reduced your balance to zero yourself over the course of 6 months.

Then your credit record would be enhanced by only paying 50% of the amount owed. Thats a win - win for you

Bliss_Butterfly

Eonel wrote: »

It would look better if you could get NatWest to make your credit record look like you made all the payments on time and reduced your balance to zero yourself over the course of 6 months.

Then your credit record would be enhanced by only paying 50% of the amount owed. Thats a win - win for you

Hi, thanks for the advice. To make sure I have the right understanding, are you suggesting I contact Natwest directly and ask them to alter their records to show me paying the debt down? Would this mean me paying off 100% of the debt? Has anyone ever successfully done this?

Bettingmad

The content of your letter is fine, it covers all the required points. As I have said earlier it is highly unlikely that any creditor will remove the adverse credit info. I think the expectancy should be that they won't, why would they want to, it's a true reflection of your credit history?
What you should be focusing on is reclaiming the charges as this would be the right way to go.

Bliss_Butterfly

Again thanks for all the comments. I will finalise the letter today and send it first thing in the morning.

What you should be focusing on is reclaiming the charges as this would be the right way to go.

Do you think I should combine my request for reclaiming of charges whilst agreeing to pay the full and final settlement arrangement I agreeing? This seems unlikely to be popular with the DCA, but maybe I am not seeing it from the right perspective.

Bettingmad

The correct way is to do all your reclaiming first. Hypothetically if the outstanding debt is 10k your offer is 5k on 50%. Again hypothetically if your charges amounted to 1.5k this is then deducted from from your 5k offer.
Out of interest how old is the debt? did you receive a notice of assignment when the debt was passed from Natwest to the first DCA?
Are you happy that the second DCA are able to legitimately the confirm offer as they are only acting on behalf of the first DCA? Is there a valid agreement in place for the debt?
At the end of the day it's your debt and if you happy to get rid of it for a 50% reduction then settle using your drafted letter which contains all the relevant pointers.