Settlement Barclaycard MKDP

themadhouse

Hi all,

I am currently trying to clean up my credit file by taking responsibility. I am hard pressed with funds at the moment but have been trying to get a F&F figure from MKDP.

In my first phone call they reduced from £1,273.52 to about £820 (can't recall whole figure asked for in writing). I think this is about 35% discounted.

My question is, I asked for a £250 figure but was laughed out. Should I try and get it down more, or based on others experience is this the best it gets? Also am I best to respond in writing?

Thanks

sourcrates

Hi,


You should always do everything in writing, were debts and creditors are concerned, 35% is not too bad a discount, although, dependant on how old the account is, and what its status is paperwork wise, you may be able to negotiate more.


National Debtline have an excellent Template letter for this purpose on there website.

themadhouse

Sorry to ask what might be a naive question but why should I not deal with them by phone and only by letter ? Thanks

owlet

themadhouse wrote: »

Sorry to ask what might be a naive question but why should I not deal with them by phone and only by letter ? Thanks

If you don't have it in writing that it's a full & final settlement, you have no proof and they can come back at a later date demanding the rest of the balance.

sourcrates

themadhouse wrote: »

Sorry to ask what might be a naive question but why should I not deal with them by phone and only by letter ? Thanks

You need everything in writing were debts are concerned, as the other poster says, you could be chased for this debt again in the future, it's imperative you send a correctly worded letter in order to stop this happening.
Anything agreed verbally cannot be proved, it's as simple as that.

themadhouse

I have the offer in an email and did ask for it to be posted which they said it would be second class? Is this not sufficient? Can I not argue the settlement figure by replying once I receive the letter from them with the 35% off - is there a template?

owlet

themadhouse wrote: »

I have the offer in an email and did ask for it to be posted which they said it would be second class? Is this not sufficient? Can I not argue the settlement figure by replying once I receive the letter from them with the 35% off - is there a template?

The letter they send is exactly what you need. Respond in writing too & keep a copy as well as keeping the letters they send you.

You can certainly argue it out with them, it's negotiation.

sourcrates

themadhouse wrote: »

I have the offer in an email and did ask for it to be posted which they said it would be second class? Is this not sufficient? Can I not argue the settlement figure by replying once I receive the letter from them with the 35% off - is there a template?

It's just a common sense responce really, they offer 35% off, you respond saying will you accept 45% off, or whatever.

Keep the email safe for future reference, if they don't write.

themadhouse

I joined the site Get Out Of Debt Free - I paid for the subscription and got a 3 letter template to respond to collectors with, has anyone any experience of this?

owlet

themadhouse wrote: »

I joined the site Get Out Of Debt Free - I paid for the subscription and got a 3 letter template to respond to collectors with, has anyone any experience of this?

You don't need to pay for templates, all you need is available within MSE. The bankruptcy board has a sticky with info for cleaning up credit files.