Making full & final" payments............

Lodge

I'm going to be in a position to make a couple of "full & final payments" soon (to Moorcroft & CapQuest) and want to know if they will confirm in writing that I have in fact paid the full balance?

Obviously I don't want them, or any other DCA, chasing me again in the future for the same debt.

Can anyone share any experiences they have had when paying off a debt to Moorcroft or CapQuest?

Many thanks.

D.

glasgow_DFW

not with them but I did mack full and final payment to RBS arraged what the F & F should be and had a letter issued confirmtin that amount would be acceptible as an F & F, went made the payment and stapeled the recepte of the payment to the letter. If you have that letter with a recept you should be fine.

Lodge

Thanks for that glasgow_DFW, I will be making my payments over the phone with a debit card, so can I be sure they will not hound me anymore once I've paid?

Also, can you barter with these people as to what the settlement figure is? Surely they "buy" the debt at a very reduced price from the original creditor anyway?

Please give me some feedback guys, with your own experiences.

Thanks all.

D.

devonsdreamer

The advice I was given was to get everything in writing-

Lodge

devonsdreamer wrote: »

The advice I was given was to get everything in writing-

I DO have the figure in writing I'm really asking if they will acknowledge the debt has been fully settled once I've paid?

devonsdreamer

Do have written confirmation that your payments are being accepted as a full & final settlment figure and that your account will be marked as settled. Without this it has been know ( from what I have read here) that DCA may try to get you to pay up further down the line. There is a factsheet on national debtline http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers that may help you.

glasgow_DFW

Get written confirmtion before you make the payment it will be fine. I was outstanding £620 and the F & F I paid was £410 to clear the lot.

Poosmate

Yes make sure you have in writing before making the payment that the figure quoted is "Full and Final Settlement". You should be fine then and congrats on getting rid of the debt! Yay!

Poo

stapeley

email CCCS for a guide to process . Please read it before you do anything else . Have you requested CCA from creditors? If you do a settlement ,but only a portion , they will put a note on credit record .

thepinkladez_2

Lodge wrote: »

Thanks for that glasgow_DFW, I will be making my payments over the phone with a debit card, so can I be sure they will not hound me anymore once I've paid?

Also, can you barter with these people as to what the settlement figure is? Surely they "buy" the debt at a very reduced price from the original creditor anyway?

Please give me some feedback guys, with your own experiences.

Thanks all.

D.

i read on a thread on here somewhere saying you should NOT pay over the phone by card as that way they have access to your card details and can take whatever amount they wish too, i am shocked that this could happen but then again i have heard some damn right sneaky ways of dca getting their pennies!:eek:

i also don know if they could legally do this? isn't it called a reoccuring payment? sure i read an article by martin saying to watch out as this can happen ( !!!!!! sites do it supposedly?!)

Lodge

Has anyone else here made "full & final settlement's" and if so what were procedures? Did you get a letter/statement confirming the debt was now settled? Please share your experiences as I will be ready to make payments this week.

Thanks in advance guys.

D.