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Rockwell - Full and Final settlement refused. next step?????
weebit
Posts: 411 Forumite
I currently have a debt with Rockwell Debt Recovery for arond £1500. i sent them a letter offering a Full and Final settlement of £550 (which i appreciate is at the low end!). they sent me a form to fill in, which was basically an SOA. i filled it out and sent it to them. it also contained information on how much i owe to other creditors (around £8000 in total).
i got a letter back yesterday saying they would not aceppt my offer but offered me a settlement figure of £1310
i dont have this much available to pay them, and i think that's an unreasonable figure considering the outstanding debt (it's only a dicount of £200 or 13%)
what should be my next move? can i send them a letter offering them an amount higher than £550? i can pay up to £800, but would they be likely to accep this? has anyone succesfully negociated the settlement figure down?
i got a letter back yesterday saying they would not aceppt my offer but offered me a settlement figure of £1310
i dont have this much available to pay them, and i think that's an unreasonable figure considering the outstanding debt (it's only a dicount of £200 or 13%)
what should be my next move? can i send them a letter offering them an amount higher than £550? i can pay up to £800, but would they be likely to accep this? has anyone succesfully negociated the settlement figure down?
Aiming to pay off £50,312.94 in less than 3 years - Starting from December 2015
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed
)
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed
)0
Comments
-
Hi weebit - you need to stick to your guns - after all Rockwell are going to hold out for as much as they can get.
IF you do decide to increase your offer, you should make it very clear, when you write to Rockwell, that the increased offer is a maximum offer and is based on the fact that this money is being 'made available' to you on a short-term basis, subject to you agreeing a full and final settlement offer with them within the next ten days, after which the money will no longer be available to you and that your offer will no longer be available.
I would, also, resist going straight to your maximum offer - personally I would stick with your original offer and most certainly no more than £650.
The area of 'Full and Final Settlement Offers' can be a minefield. Be particularily wary of dca's who offer 'settlement' or 'partial settlement' deals.
For more information, have a look at the following National Debtline factsheet:
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers
Good luckI am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
thanks for that advice. i think i'll offer £700 and see what happens. should i also cancel my direct debit to them for my monthly payments? i'm paying £50 a month at the momentAiming to pay off £50,312.94 in less than 3 years - Starting from December 2015
Current debt total: £32,756.02 (as of 1st March 2018)
Date Free Date Aim: Summer 2019 (8 extra months needed )0
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