Wonga/Portfolio Recovery associates

bringingit

I had a loan from Wonga for £400 in 2012 which has made its way to Portfolio Recovery £579.02. I am trying to arrange full and final settlement offers with all of my creditors and in a lot of cases it has been successful and these are the only ones so far consistently refusing.

I've done all correspondence via email so I have a record. I first offered them £200 which they refused. I then offered £290 which they also refused.

Then I made this offer

I would still like to resolve this issue with a full and final settlement. Therefore I am giving you two options:-

1) I pay this debt off with an ex-gratia payment in full and final settlement of the account of £290. This offer is being made on the basis that, if accepted, neither you or any associate company will take any further action or enforce to pursue this debt in any way whatsoever and that I will be released from any liability. I also request that you make an entry on my credit file to mark the debt as satisfied in full. I can make payment by 8 December after receiving your clear acceptance and agreement of this offer.

2) I pay this debt off with monthly payments of £2.81 for the next 206 months. This offer is being made on the basis that the monthly amount will be agreed for the term of the repayment.

These offers are available for the next 7 days only please reply within this timeframe.

I provided them with a SOA which showed that £2.81 was the most I could pay monthly if I had to pay back all of my creditors monthly.

I am able to pay the F&F offers by getting 1.5 months salary this month, going without for a couple of months and getting some assistance. Settling all of the debts would also really help me mentally.

To my surprise, they have accepted the offer of £2.81 per month which is not what I was wanting.

Do I have a strategy from here? If there any way I can guarantee that they can't start asking for a higher amount in future?

Any thoughts appreciated...

dancingfairy

Not much you can do. If 2.80 a month is all you can afford then it's all you can afford. I presume as you have offered so much in full and final settlement that they believe you have more money than that though.
Obviously they can't make you pay what you don't have and you can't make them accept a settlement offer.
Personally I'd pay them the 2.80 a month and be done with it. Try again in maybe 3-6 months. They may settle then, who knows?
Sorry I haven't got any better suggestions.
df

bringingit

Hi, thanks for the reply.

I was hoping to get everything F&F that could be - I have council tax that have been put onto a repayment plan after complaints about treatment from the bailiffs so that was good and was happy with that. Trying really hard to get the rest F&F as I can raise funds right now and being able to 'be done' with them would be great.

I guess my only question becomes is the statement I made and they agreed to 'This offer is being made on the basis that the monthly amount will be agreed for the term of the repayment' is that at all legally binding? What I want to avoid is them accepting that for 6 months and then trying to get me to pay in full or a much higher amount per month.

Also, I'm looking at my credit reports. Nothing is showing on Noddle and Equifax. I'm waiting for a passcode to see my Experian report I think it will have a default - hopefully correctly dated and with nothing incorrect about this debt.