Full and final Vs Partial settlement debate

owen_money

I have read with interest over the last few months full and final and partial settlement threads and most advice seems to revolve around peoples opinions, some say only accept a full and final, others partial is acceptable so long as certaincriteria are met, but I would like to find out peoples actual experiences.




Have you been offered a partial settlement but held out for a full and final? Have you accepted a partial settlement only to have a DCA chase you for the outstanding balance later?




My story is as follows,

I was/ am on a DMP through CCCS for the last 8 years with 2 x MBNA accounts (and others, only one left now, Barclaycard grrrrrr, devils spawn) I made a F&F offer to MBNA (about 60%, on about £6,000, other offers rejected, but I had the cash and wanted clear it) but they came back and accepted it on apartial settlement on the basis that they would close the account and wouldn't look to pursue the debt. They would mark the account as partial settlement and it would stay on my credit report for 6 years (not bothered as report was bad anyway). I paid the agreed amount and credit report shows account closed, zero balance, partial settlement. In my mind the account is closed with a zero balance, if a DCA comes along later I have all evidence that the account is closed, zero balance so I will not acknowledge the debt. I think partial settlement is fair because that's what is it




From my experience MBNA were very helpful in resolving my financia lproblems, but I don’t think this is the case for everyone.




What are your actual experiences of the settlement procedure? Im not so much interested in your interpretation of the settlement route but your actual experience.




Thanks to all who answer................



Regards
Owen_money (but not too much now, DFD November 2102, not going there again, but thats a whole new story, I've been there and got through it and everyone can, trust me)


xxxx

wanna-be-mortgage-free_2

Hi Owen

Haven't reached that stage yet but my personal opinion would be to wait for F&F settlement at a reasonable rate - let's say 10% :rotfl::rotfl::rotfl:Let's face it, my credit file will be trashed for 6 years anyway

owen_money

Thanks for your thoughts WBMF but its still not actual experiances, which is what I'm after

Awkward I know