Debt Collectors - What Next?

Honeybee_2

I'm so sorry you and your mum are in this situation.

If it's any consolation, my husband had an £8k debt with IQOR and I negotiated payments of £40 per month on that which they were happy with so they will relent eventually.

X-man

itsnever2lateisit? wrote: »

Hi x-man, might I suggest that your mum sets up a standing order for a nominal amount that IS affordable. This shows intent to pay. Do this as well as the things you are attempting. Although it can be a worry it might be a better outcome if a DCA grew a pair and took her to court. If she demonstrates to the court that she is paying, and hands in her statement of affairs the court wont award the DCA more than she can reasonably afford. This is why DCAs bully and harass, because they know that a court award will mean it takes longer for them to get the money

Thats not an option I'm afraid. She cannot afford to pay anything at all. Ideally, I want to settle the debt for her but cannot afford to pay more than 50%. The only other option is for the DCA to take her to court and have an order placed on her property.

X-man

Result!!

Mum has received a letter confirming that they will accept the offer I made as "full and final settlement", provided I pay by 14th May 2008.

Although I have this in writing, would it be wise to send a full & final letter to clarify that this offer is made on the understanding that neither they, nor any associated company, will take any further action to pursue this debt, and that they make an entry on a credit reference agency file as "satisfied in full"?

I don't want to draw this out any longer than necessary or delay payment but I need to be sure before making the payment that they won't be back for more.

davek1

X man if you have a letter with the words in full and final on it that seems ok to me. Any chance of posting a copy of the exact wording so we can help further.

If you pay write a letter and put something to the effect" by accepting this payment you agree that this is in full and final payment of ANY outstanding debt. the remaining debt being written off in totallity and no further action being taken by your company or any subsequent agents to recover the remaining debt.

Hopefully that should be your get out clause. Make sure you send it all recorded delivery. Check to make sure the cheque id cashed and keep ALL copies of letters from you and them along with proof of posting etc for at least 6 years.

Dave

Dave

Broken_hearted

Well done, they were just trying to bully you/your mum and you stood your ground.