Mixed bag so far with full and finals

User_060921

Now i totally accept i haven't been on my DMP for that long really and I am well aware that my debt figures are high.

The back story is unimportant.

Just thought I would share my experiences so far in trying to achieve full and finals - which a kind relative has offered to fund.

Having sent my cca requests off, 6 of my 8 creditors could show the accounts are enforceable.

One wrote back saying they couldn't and one never replied at all.

So, I started with the latter two.

One was a virgin credit card which had a £9200 balance. This is the one where they said they had no paperwork. I settled this debt for £1750.

The other one is with Moorcroft - for an MBNA credit card upon which the balance is £7700.

They claim they never received my CCA request. Recorded delivery suggests they did.

However, they have been extremely difficult to converse with and rejected my ultimate offer (after they declined two lower ones) of £2600.

By far the easiest company to communicate with has been NCO - who deal with in house America  Express defaults. My £6000 debt was settled for £2000.

Moving on, I have a £9000 debt with Nationwide which they have not sold on yet. They seem to be seriously considering a £3000 final settlement offer.

Wescot own an old Halifax debt of £7600. They very much inferred they would accept a £2500 settlement, but have now emailed me to say, they will accept £6800.

Last but not least PRA - they really don't want to talk turkey. They own three of my debts and are not in the mood to discuss settlements any lower than 80 per cent of the outstanding balance.

If nationwide accept the offer, my outstanding balances will go from £50k+ to under £30k which is a massive win in my book.

I guess I will revisit the others in a year or two time when the funds allow.

DjangoUnchained

my research has shown pra are very slow at offering full final settlements. I have a debt with them for £4500, ive never paid them a penny as they couldnt supply a cca, even aftr 4 years, but send me a letter every few months offering me a measly 20% off. I ignore it and have decided i will not pay them at all. even if they suddenly supply a compliant cca i will let them take me to court if they wish on the chance that the small percentage of court cases they bring , they seem to lose or discontinue quite  a few. If pra cant supply the cca i suggest dont pay them.

User_060921

unfortunately they could produce the cca.

however i will continue my token payments for a few years then look again

DjangoUnchained

make sure you check the cca is fully compliant. what they initially sent me was garbage.

User_060921

More success today.

nationwide have accepted my £3000 offer for the £9000+ Debt.

User_060921

Wescot have come back to the table and accepted the £2500 offer.

Debt now down to £21500.

I am SOOOOOOOOOOO happy

Kakiste

Well done! That's a massive reduction down from £50k

User_060921

I can't tell you the amount of relief i feel that the number is nearer a 'normal' number than what had accrued.

Without this forum, i would never have had the confidence to go in this direction.

SusieT

Fusterclucker said:

Wescot have come back to the table and accepted the £2500 offer.

Debt now down to £21500.

I am SOOOOOOOOOOO happy

I am not surprised you are happy, getting their offer of 6800 down to 2500 is a big reduction in what appears to be a relatively short timeframe. 
Out of curiosity, did Wescot own the account or were they just managing it? I thought they mostly managed them, but have not really thought about it for a while now.
Congratulations on getting rid of the ones you have been able to move, hopefully you will get other acceptances at some point   

User_060921

They were managing it for Halifax (as it turns out).

I did need to send them a dissertation on why they should accept it and they went along which is great