Full and final settlement offer

emweaver

So far I have only had a response from one the others have ignored my letter. Robinson Way declined my offer and asked me to ring them to discuss a suitable settlement offer but when I did was told they do not do settlement offers and the letter I received was a standard / automatic letter! They said settlement offers are worse for your credit file than paying it off at a low rate each month?

SusieT

emweaver wrote: »

So far I have only had a response from one the others have ignored my letter. Robinson Way declined my offer and asked me to ring them to discuss a suitable settlement offer but when I did was told they do not do settlement offers and the letter I received was a standard / automatic letter! They said settlement offers are worse for your credit file than paying it off at a low rate each month?

If you have a default on the account it will sit there for 6 years regardless of you paying or not, so your credit file is basically stuffed for that amount of time.
If you so a full and final and the account is marked as such and there will be no further markers put on the account.
If you are on an arrangement to pay that will show each month until the debt is cleared.

The people who answer the phone will get commission if they get you to agree a payment plan and it may well be that they are not allowed to offer a f&f to you. Best not to phone anyway as there is noo proper record of whats said on the phone. Best way is to write to them with any offers as it gives you a paper trail that they cannot dispute.
Good luck with them all.

emweaver

SusieT wrote: »

If you have a default on the account it will sit there for 6 years regardless of you paying or not, so your credit file is basically stuffed for that amount of time.
If you so a full and final and the account is marked as such and there will be no further markers put on the account.
If you are on an arrangement to pay that will show each month until the debt is cleared.

The people who answer the phone will get commission if they get you to agree a payment plan and it may well be that they are not allowed to offer a f&f to you. Best not to phone anyway as there is noo proper record of whats said on the phone. Best way is to write to them with any offers as it gives you a paper trail that they cannot dispute.
Good luck with them all.

I only rang as they asked me to ring and discuss the settlement offer. On ringing a few other companies they are mostly saying they have not received my settlement offer and is been 2 weeks since I wrote to them.