Anyone know anything about problems with Final Settlements?

tinkertaylor05

Hello to everyone,

I've never posted a thread but have used this site for over a year in my debt free quest.

I wondered if anyone has any advice to offer on Full & Final Settlements? I settled a debt with Abbey over a year ago, they have now sold on the £417 they agreed to write off and it is a complete pain trying to argue the toss with money hungry collection agents!! We have just renovated our house and most of our paperwork etc is all boxed up so can't find anything relating to Abbey account.

Does anyone know what we should do? I am on verge of telling next person who calls me to get lost (probably using somewhat more offensive language). We've had our house broken into and car stolen by some little gets this week and my patience is wearing thin!

Any help or advice will be much appreciated.

Looking forward to speaking to you all in future.

X x x

fermi

Did you get it in writing that the payment was accepted in "Full & Final Settlement", and that your credit reference files would be marked in some way to indicate that the debt was settled/satisfied with no balance outstanding?

tinkertaylor05

Hi Fermi,
As far as I can remember I got it in writng confirmimg acceptance (settled alot of debts together) just can't find anything as we are in such a mess. Wasn't sure if I should just startby writing a letter to Abbey if I can find original a/c info..

fermi

Abbey's collection and customer service departments don't have the best reputation for helpfulness or record keeping. :rolleyes:

You can try to get confirmation of the F&F settlement from them, but I wouldn't hold your breath.:rolleyes: Especially if Abbey sold it on.

If I was you I would try and dig out the paperwork from your side if you can find it. You will also have more confidence and proof of the original wording of the settlement that way.

Out of interest, who have they sold the debt to?; and what sort of debt was it?

tinkertaylor05

I can't remember what the name was, waiting for them to send out a letter, its not one I've heard of before and I've dealt with alot of debt companies. The original debt was actually my partners, it was for a bank account overdraft that grew out of control ..... mostly with charges.

fermi

It seems like a new DCA pops out of the woodwork every day at the moment, and the ones that you do know about keep buying each other out and changing their names.

I still think your best bet is to dig out the original F&F paperwork if you can.

It might also be an idea to talk to one of the free impartial advice agencies in my signature and listed here: Non-profit Debt Counsellors' List

They could be especially useful if you can get hold of your paperwork or Abbey's, and want to double check the legal standing with a professional advisor.