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Full and final offer advice.
NUFCnutter
Posts: 408 Forumite
How exactly does a full and final offer work? Basically I have about 4 accounts with Wescot none of them above £80 which I am paying back at £1 a month at the moment. Just wondering if I can make an offer to get at least one of them cleared off.
LBM £18463.32 in debt 10th June 2008,
£12470.99 in debt 10th June 2009.
:j
Time flies like an arrow.Fruit flies like a banana.
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I have never made one myself but I would be tempted to make an offer of 50% and take it from there.
Someone will be along soon who has done this process before I'm sure.Proud to be dealing with my debts - DFW No: 712
03/09/09 - DEBT FREE AT LAST
Racing Hypno to Save - £10/£50000 -
there are some template letters on the NDL website. I would probably be tempted to offer a F&F of 30% if they refuse offer the 30% again and if they refuse continue with the £1 payments. 3-6 months later re-offer the 30%.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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Just another quick thought. Can I ask Wescot to provide me with a cca for each account before I go down the full and final settlement route?LBM £18463.32 in debt 10th June 2008,£12470.99 in debt 10th June 2009.:jTime flies like an arrow.
Fruit flies like a banana.0 -
Yup CCA request is a right we all have.
To be honest ithink that the majority of DCA's are bullies and more needs to be done to make their life difficult.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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Another quicky, do I have to have defaulted on the loan before I can offer a full and final settlement? Or does it not matter?LBM £18463.32 in debt 10th June 2008,£12470.99 in debt 10th June 2009.:jTime flies like an arrow.
Fruit flies like a banana.0 -
Hi, Just going through this myself - WARNING though, DO NOT ACCEPT PARTIAL SETTLEMENTS, as they only come back after you at a later date. I will send you a PM once I have the info! Opinions are like bottom holes, we all have one 0
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Thanks. No I want written confirmation that the debt will be settled and my credit record will be changed to "satisfied".LBM £18463.32 in debt 10th June 2008,£12470.99 in debt 10th June 2009.:jTime flies like an arrow.
Fruit flies like a banana.0 -
I need that myself too - I think it depends on which creditor is dealing with it. I have been offering 50% F&F, there are 2 creditors involved, one has rejected this outright, so I upped it a tadge, still waiting for that reply. the one I had today was for a Partial Settlement and I've put a thread out, although no one was able to give advice tonight - I'm probably on page 8-9 by now!, because it's so busy tonight - Opinions are like bottom holes, we all have one 0
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Have written to four creditors (well 2, one has one account and another has 3) offering them "full and final settlements" of 30% on the accounts. Shall see what happens.LBM £18463.32 in debt 10th June 2008,£12470.99 in debt 10th June 2009.:jTime flies like an arrow.
Fruit flies like a banana.0 -
ANOTHER (yes, I know) quick question, do you have to send them recorded, or will proof of postage be enough? Am really trying to save money, :rotfl:LBM £18463.32 in debt 10th June 2008,£12470.99 in debt 10th June 2009.:jTime flies like an arrow.
Fruit flies like a banana.0
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