Help please, advice needed!! Full and Final Settlement Advice

Drud88

Hello everyone,

First off, apologies if this is the wrong place to post this! Feel free to move it to the correct place.

I'm hoping to get some advice from the members here and guidance moving forward, below is a cut down story about my debt and the situation I am now in:

Back in 2012, I bought a house with my partner at the time, unbeknown to me she had racked up a serious amount of debt, loans and credit cards. The biggest problem with this was she had done it in my name!! Fast forward two years, separated after selling house which she took half of deposit equating to about 4K after bills I was working and renting and met my future wife.

We settled down, got married, had a baby girl and thought about buying a house. I then found out without my wife's knowledge that I had about 20k worth of debt associated to my name. Never been chased or hassled for it but it was there!!!

It turns out my ex had been spending in my name, 3 credit cards and 1 large loan! So I find myself in the position I am today, after hiding this information from my wife (I know it was the wrong choice) it has all come to a head and we are now sorting the problem. Then damage left is 9 defaults equating to 22k roughly.

My parents have offered to help me clear the debt in whatever way possible (I'm very lucky), I am thinking of going down the full and final settlement route but have a lot of questions, looking across different forums I can't seem to get the right answers so here are mine below:

1. What sort of figure can I aim for? 20-30% of the debt? Is that realistic?

2. Will I get them to agree to mark the debt as satisfied/settled?

3. What timescale realistically could this all be done in? The money is available to me, it would be time to hear back from debt collectors and nationwide.

4. All debts are with debt collectors except a loan she took out which is with Nationwide, will they accept full and final settlement?

Sorry for the essay, and I look forward to help and advice from you all. Thank you for reading!!!

sourcrates

Hi,

Any chance any of these could be statute barred ?

(6 years or more without payment or written acknowledgment ?)

Drud88

sourcrates wrote: »

Hi,

Any chance any of these could be statute barred ?

(6 years or more without payment or written acknowledgment ?)

Most of the defaults are from 2013 so I assume I still have 3 years?

Karonher

Would you consider reporting this to the police and trying to get the ex to pay it?

StokieBecks

I second this. It needs reporting as fraud to the police/action fraud and the credit referencing agencies