Partially Satisifed... is this ok

angelavdavis

With regard to the matter of accepting Abbey's partial settlement offer (rather than self-indulgent !!!!!ing that seems to have taken over this thread):

My personal suggestion is to forget their partially satisfied offer - its a waste of time - as Keren has proved.

I suggest you firstly put your offer of full and final settlement in writing and send it recorded (see link to Nationaldebtline for a template). Messing with phone operators is a waste of time as these guys are bonused on how much they get back from debtors (according to an ex who worked in debt collection at Abbey). There is also some advice relating to full and final settlement on nationaldebtline's web site. Typically, the case will be assessed differently if you write to them.

I believe you made the offer over the phone - so they responded in writing to the tune "thank you for offering to pay off £xxxx, etc" so no mention of the full and final settlement offer in the letter??)

If they refuse, follow this up with a further recorded letter (referring to your letter sent recorded delivery on xxxx) that states that you have tried to make this offer to them, but as they have refused, you have no choice than to continue the payments as previous.

Then put the money in a high interest account and continue making payments to Abbey. If it goes to a Debt agency, then try again with your full and final settlement.

If you are finding Abbey are harrassing you over the phone, there is further advice here.

Good luck

Tootsie_Roll

angelavdavis wrote: »

My personal suggestion is to forget their partially satisfied offer - its a waste of time - as Keren has proved. I don't agree - all she proved is that it stated on the credit file 'partially settled' we have no way of knowing what the rest of her credit file was so really cannot comment. In addition saving all that money might not be a waste of time to the OP.

I suggest you firstly put your offer of full and final settlement in writing and send it recorded (see link to Nationaldebtline for a template). Messing with phone operators is a waste of time as these guys are bonused on how much they get back from debtors (according to an ex who worked in debt collection at Abbey). Well I am still very good friends with a Head of Collections from the Abbey and they have never been on commision and the only bonus they very occasionaly get is a departmental one.

In which office did your ex work ?

inmypocketnottheirs

Tootsie_Roll wrote: »

You need to check your facts; I have not worked in the dca world for some time now. I only post on here to counter the tripe that is grossly misleading and could be a disaster for those genuinely looking for help. There are a minority on here whose sole purpose seems to be to discredit the lending/dca world as often as possible and sod the poor people who are their instruments.

I would advise then that you ensure you give a balanced and unbiased view, instead of the sanctimonious and often inadequate twaddle that you frequently post. I have even posted a link above as evidence.

As before, a case of pot, kettle and black.

msmicawber

Tootsie_Roll wrote: »

As for what the Abbey are doing that is useful - well surely the fact that the OP can take advantge of a significantly reduced settlement and not be chased for the remainig balance is very useful.

What settlement, though? My point is that the debt is not settled, it is partially satisfied and the woman on the phone indicated that the OP should pay it off at a later date. There are no guarantees that Abbey will never chase the debt and I don't see what benefit the OP derives from this. If Abbey are truly settling the debt, why won't they take the £15k in full and final settlement? If there's no intention to later pursue this debt, why are they leaving their options open?

angelavdavis

Tootsie_Roll wrote: »

In which office did your ex work ?

Borehamwood

Tootsie_Roll

msmicawber wrote: »

What settlement, though? My point is that the debt is not settled, it is partially satisfied and the woman on the phone indicated that the OP should pay it off at a later date. There are no guarantees that Abbey will never chase the debt and I don't see what benefit the OP derives from this. If Abbey are truly settling the debt, why won't they take the £15k in full and final settlement? If there's no intention to later pursue this debt, why are they leaving their options open?

Abbey agree to the figure as full & final settlement but only mark the credit file as partially settled. They allow you to pay off the full balance IF you want the CRF to show as 'Settled'. The OP benefits from only paying £6k back against a balance of £15k - it is still a huge concession.

Tootsie_Roll

angelavdavis wrote: »

Borehamwood

I think they used to have a mortgage centre in Borehamwood that a very long time ago (pre '93) might have done some collection work but Abbey's collection departments are based in Milton Keynes and Sheffield.

GeorgeUK

Wannabesaver - did CCCS say why it was a problem to accept the Abbey offer? Is it further reaching than just not getting credit?
(I think i read that you accepted, but not sure - got lost partway through the thread)
And will waiting 6 years for credit be a major problem? Hope it works out ok.


For anyone else with more ken: I have heard of debt collection agencies chasing old debts that they have got/bought from banks. Abbey may not chase for the debt, but could the sell it on or are they not going to allow anyone to take this further? Just showing my ignorance with this query, but interested to know.

thanks
G

inmypocketnottheirs

GeorgeUK wrote: »

Wannabesaver - did CCCS say why it was a problem to accept the Abbey offer? Is it further reaching than just not getting credit?
(I think i read that you accepted, but not sure - got lost partway through the thread)
And will waiting 6 years for credit be a major problem? Hope it works out ok.


For anyone else with more ken: I have heard of debt collection agencies chasing old debts that they have got/bought from banks. Abbey may not chase for the debt, but could the sell it on or are they not going to allow anyone to take this further? Just showing my ignorance with this query, but interested to know.

thanks
G

I think the answer to your question lies in how far do you trust banks?

msmicawber

Tootsie_Roll wrote: »

Abbey agree to the figure as full & final settlement but only mark the credit file as partially settled. They allow you to pay off the full balance IF you want the CRF to show as 'Settled'. The OP benefits from only paying £6k back against a balance of £15k - it is still a huge concession.

This makes no sense - full and final means the debt is fully satisfied; partial means it's not. Did you say you worked for a bank? I'm sure they must tell you the difference between settling a debt for a lesser sum and leaving the file open. The OP could find that Abbey sells the remaining debt to someone else, and then what concession has she had? It wouldn't give me peace of mind.