Natwest Visa are trying to kill me.

NickX

callum9999 wrote: »

say that your final offer is for the amount you actually owed minus the charges with a reasonable amount on top - maybe even enclose a cheque to that amount.

Sorry to contradict you, but sending a cheque before you have Full and Final settlement agreed in writing is not a good idea - they are highly likely to bank the cheque and still persue the OP for the remaining debt. I would strongly advise getting an agreement from them that clearly states a Full and Final settlement before sending them any money.

jpwjpw

Surely if you are in a position to make "full and final settlement", you could afford to pay off at least the minimum of the balance every month.

Why not just set up a direct debit for this (or preferably more), cut the card up and forget about it?

If you did this, you wouldn't be incurring fees all the time.

callum9999

NickX wrote: »

Sorry to contradict you, but sending a cheque before you have Full and Final settlement agreed in writing is not a good idea - they are highly likely to bank the cheque and still persue the OP for the remaining debt. I would strongly advise getting an agreement from them that clearly states a Full and Final settlement before sending them any money.

Ah, I thought if you made clear in the letter that it's only to be considered a full and final payment, they wouldn't bank the cheque if they didn't agree with it. Though saying that, this is a bank we're dealing with!

But as he has signalled he wants to pay his debts, just not the ridiculous charges, I don't think it's that bad an idea to pay that off then ignore them after that if they are still being obtuse to the idea.

NickX

callum9999 wrote: »

Ah, I thought if you made clear in the letter that it's only to be considered a full and final payment, they wouldn't bank the cheque if they didn't agree with it. Though saying that, this is a bank we're dealing with!

You really need in writing from the creditor that the amount paid has been an agreed Full and Final settlement.

If they do come back for more you then have the evidence and can tell them where to go. If you just put in a letter to them that it is an offer of Full and Final settlement then that letter may disappear and you don't have any evidence that they accepted the offer.

I'm sure there have been posts on here where people have sent cheques clearly marked as a Full and Final settlement offer, then some months later a DCA appears on the scene demanding more payments.

Best to play it safe I think.

endora

jpwjpw wrote: »

Surely if you are in a position to make "full and final settlement", you could afford to pay off at least the minimum of the balance every month.

Why not just set up a direct debit for this (or preferably more), cut the card up and forget about it?

If you did this, you wouldn't be incurring fees all the time.

I've done exactly what you describe above, i.e. didn't get replacement cards but kept the DD going for 5 years on 2 cards, yet the balance hardly went down due to interest. :eek::eek::eek:

Keeping up minimum payments once you've been defaulted is totally pointless even if you were in a position to do so, the default would stay on your file for 6 years and you'd keep lining the pockets of the bankers just as if you still had a live account. The worst of both worlds!