Help on a F&F offer

GrinC

In 2011 I took out an original loan of £200 from Pounds to pocket (along with others) and I got into a bit of mess. I'm in a DMP and am currently 64% of the way through. However, I've tried to negotiate a F&F (or rather a partial and final) offer with P2P.


I've got the £175 balance down to £87 but I've asked the following:


Thank you for the reduced offer. I am happy to pay this on the clear understanding that I will have written communication to state that neither Pounds to Pocket or any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.


They've replied with:
Thank you for returning to us. Once you have made your settlement amount of 87.56 GBP, your loan will be closed as 0.00 GBP. Your credit file will be updated as partial settled. It will take 30-45 working days for the update to take effect on your credit file.


I need to pay within 24 hours - this gives me until about 2pm.


They really haven't given me the statement I need though? What should I do?

sourcrates

GrinC wrote: »

In 2011 I took out an original loan of £200 from Pounds to pocket (along with others) and I got into a bit of mess. I'm in a DMP and am currently 64% of the way through. However, I've tried to negotiate a F&F (or rather a partial and final) offer with P2P.


I've got the £175 balance down to £87 but I've asked the following:


Thank you for the reduced offer. I am happy to pay this on the clear understanding that I will have written communication to state that neither Pounds to Pocket or any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.


They've replied with:
Thank you for returning to us. Once you have made your settlement amount of 87.56 GBP, your loan will be closed as 0.00 GBP. Your credit file will be updated as partial settled. It will take 30-45 working days for the update to take effect on your credit file.


I need to pay within 24 hours - this gives me until about 2pm.


They really haven't given me the statement I need though? What should I do?

Get on there live chat, or email, get them to agree.

Or phone and ask them to confirm by email.

That would be sufficient.

GrinC

I've missed the deadline as I really want it in writing. I've emailed and reiterated that I need them to confirm that i'll no longer be liable. I feel sick that they may withdraw the offer now.

National_Debtline

Hi GrinC,


Try not to panic. Whilst they do reserve the right to withdraw the offer, that doesn't necessarily mean they will. You are right to get the wording of the letter correct before sending any money. You can use our sample letter if you need any further help- https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx


A 24hour deadline to make the payment is unusual, so you can mentioned that you felt this was a bit pressuring, especially when both sides seem happy with the amount being offered. Good luck,


Laura
@natdebtline

GrinC

Thank you Laura.