FINAL Demand received before any other correspondence...

neilsj_2

Hi, just received a FINAL DEMAND letter from First Direct dated five days after I missed my last payment. I actually told them in advance that I would be missing this payment. The letter says 'despite our previous correspondence concerning your debt we have to date received no satisfactory response'. Now I cannot understand if the payment was due on the 15th and this final letter was dated the 20th, how they could possibly have issued a letter and not received a response in such a short space of time. Are they allowed to do this?

Granted we have agreed terms which I have broken so am sure they are within rights to demand full repayment but want to know what the correct procedure should be.

Bottom line is I owe them £1900 and want to make a full and final settlement offer (as am now overseas) - they're not interested and only way to negotiate seems the default route.

Any advice appreciated...

Conor_3

So let me get this right. you've broken the terms of your contract with them yet they're the bad man?

Why do you think you're entitled to a reduced final settlement offer? You owe them £1900 and they obviously want that so just pay it.

Any lender is entitled to demand the full amount outstanding at any time during the loan period. I think you'll find it as one of the terms of the contract you chose to gloss over in your rush to get the money in your pocket.

carlih1

It's possibly an automated letter made by the computer, if you told them you wouldn't be able to make a payment and they were ok with it the letter shouldn't have come out. If you want final settlement you have to write to them or agree it on the phone. If they agree to take less for a quicker payment then great if not you gonna have to pay the lot and might get a default on it, if you haven't already!

hth

carli

neilsj_2

Thanks for your reply - when you wrote it, how exactly were you trying to help me? The purpose of this forum is to help people who are experiencing debt, not to pass judgment. You don't know me, nor my situation. Back off!

btw, yep you're dead right - I do see banks as the bad man. Why? I pay in thousands of pounds every month for years and they give me 0.2% return at best. Then they want to charge me £30 a time for writing a letter (ref. unfair banking charges). Then they lie when writing to me. And when I ask for a little leverage, I get the silent treatment.

If you take the time to re-read my post, you will see that I fully accept that the contract may have been broken - I was actually questioning procedure, not facts, so your response has been of no use whatsoever..except to tell me what sort of person you are....


[/quote]....So let me get this right. you've broken the terms of your contract with them yet they're the bad man?

Why do you think you're entitled to a reduced final settlement offer? You owe them £1900 and they obviously want that so just pay it.

Any lender is entitled to demand the full amount outstanding at any time during the loan period. I think you'll find it as one of the terms of the contract you chose to gloss over in your rush to get the money in your pocket.[/quote]

tigtag02

Conor wrote: »

So let me get this right. you've broken the terms of your contract with them yet they're the bad man?

Why do you think you're entitled to a reduced final settlement offer? You owe them £1900 and they obviously want that so just pay it.

Any lender is entitled to demand the full amount outstanding at any time during the loan period. I think you'll find it as one of the terms of the contract you chose to gloss over in your rush to get the money in your pocket.

Conor this is well out of order and all I can say is thankfully the OP has the kahona's to stand up to you. Someone else, maybe someone on the brink because of their debt problems may have had a totally different reaction ~ you have been round these parts long enough to know how it works. Really, if you dont have anything nice to say or advice to offer then just dont!!

OP ~ I'm inclined to agree with carlih1 and that your letter is automatically generated. I think your best bet is to give them a call. Do you have deatils of who and when you spoke to when you told them your payment would be late his month?