First Step to my Debt Free Life - Full & Final Settlements

StevenHendy94

It was a barclays overdraft.

I've had barclays partner finance before, but paid and cleared a while back.

anna_1977

StevenHendy94 wrote: »

It was a barclays overdraft.

I've had barclays partner finance before, but paid and cleared a while back.

Did they take an offer? I have 2 debts with them that I'm planning on clearing in Jan/Feb.

anna_1977

StevenHendy94 wrote: »

Update: 118118 Money - Cleared for £1000.
Capital One - Refused any form of settlement other than full amount, will try again.
Wonga - In the process of moving DCA so will need to wait to find out who has the debt.
Barclays - Will contact today, was offered a settlement of £321 from a DCA but now back with Barclays so hopefully they still allow that.
VW - arguing, getting legal advice as I found out i was able to VT it, as had paid 50.01% of total amount, yet they mislead me into VS, meaning I am liable for the remainder.

Was it 50.01% of the total finance amount (inc the interest) or the value of the car? It needs to be the first

KID77

Thank you Stephen, sorry one more question, had you been making any payments to Barclays for the last year? x

StevenHendy94

KID77 wrote: »

Thank you Stephen, sorry one more question, had you been making any payments to Barclays for the last year? x

None, avoided contact with them. (Buried my head in the sand with most creditors). I did receive a settlement offer from a DCA (PGA Group) in august for £321 but did not reply to them.

Hope this helps.

StevenHendy94

anna_1977 wrote: »

Did they take an offer? I have 2 debts with them that I'm planning on clearing in Jan/Feb.

For the overdraft they did, £236. The Barclays Partner Finance was before my debt problem started, so wasn't behind.

anna_1977 wrote: »

Was it 50.01% of the total finance amount (inc the interest) or the value of the car? It needs to be the first

Total finance, find it really strange the way they have gone about it. But i have very little documentation regarding it (possibly my own fault, however, I keep all my letters so I'm thinking they didn't give me much proof). Not sure if I should seek legal advice, If the car was taken under false pretenses, then I believe under FCA regs I am due the full refund off all payments made during the agreement. Which would be lovely obviously!

StevenHendy94

UPDATE: Capital One is willing to settle at £148, however say my credit report will still show the remaining balance which i am not happy about, not sure how this actually effects me yet though, just don't want it to show as outstanding in the overall picture (even if its marked settled).

they are sending out the offer in a letter so I will examine everything first.

anna_1977

StevenHendy94 wrote: »

For the overdraft they did, £236. The Barclays Partner Finance was before my debt problem started, so wasn't behind.



Total finance, find it really strange the way they have gone about it. But i have very little documentation regarding it (possibly my own fault, however, I keep all my letters so I'm thinking they didn't give me much proof). Not sure if I should seek legal advice, If the car was taken under false pretenses, then I believe under FCA regs I am due the full refund off all payments made during the agreement. Which would be lovely obviously!

The VW finance small print would be the same for everyone I imagine, want me to look at mine? I just handed my kids car back to VW finance but owe then £200 as i was under 50%.

StevenHendy94

Got a meeting with my lawyer on Friday so will see what he says. I'm annoyed as it seems to be the last of my big debts to settle, so still have it hanging over my head for now. Quicker it's sorted the better.

StevenHendy94

Capital One still refusing to show my balance as Zero on my credit file. So as of yet still outstanding.

They keep mentioning a Partial Settlement and wont seem to understand I am looking for a full and final settlement.

My next step is writing my demands in a letter with a cheque enclosed for the preagreed amount with a note saying if cashed all these terms are accepted.
But that could also back fire.