hopefully a simple one: full and final settlement
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cherry*_2
Posts: 3 Newbie
Sorry I've not posted since I joined, I've been more of a lurker, reading up advice given to others as no questions were quite necessary before.
I had to send out the £1 offers, obligatory to get myself on the way to repaying and becoming debt free.
Lloyds, who have the in-house collectors BLS acting, had sent me a letter stating they accepted £1 as a settlement on one debt of £2k. Yes my eyes popped outta my head!
However I called today, knowing they'd cashed my £1 cheque and therefore my settlement was made well in time:rotfl:
First a young lady denied it, advising it was a training need, then her supervisor said the same. I also work in debt collection so I found his bumbling to be irritating though it would have been otherwise amusing as I seemed to know a little more and he became petulant when I asked for details of his complaints procedure.
I know these settlement letters have to be stood by once received in writing but not sure how far it goes or whether my claim would be too ridiculous; does anyone know what my rights are and whether it would be upheld if I went to the FSA or Financial Ombudsman?
I would have been really happy to have this off my back seeing as I had already cleared a few debts and seemed to be on a roll.
Would really appreciate any advice or jewels of wisdom, thanks.
I had to send out the £1 offers, obligatory to get myself on the way to repaying and becoming debt free.
Lloyds, who have the in-house collectors BLS acting, had sent me a letter stating they accepted £1 as a settlement on one debt of £2k. Yes my eyes popped outta my head!
However I called today, knowing they'd cashed my £1 cheque and therefore my settlement was made well in time:rotfl:
First a young lady denied it, advising it was a training need, then her supervisor said the same. I also work in debt collection so I found his bumbling to be irritating though it would have been otherwise amusing as I seemed to know a little more and he became petulant when I asked for details of his complaints procedure.
I know these settlement letters have to be stood by once received in writing but not sure how far it goes or whether my claim would be too ridiculous; does anyone know what my rights are and whether it would be upheld if I went to the FSA or Financial Ombudsman?
I would have been really happy to have this off my back seeing as I had already cleared a few debts and seemed to be on a roll.
Would really appreciate any advice or jewels of wisdom, thanks.
0
Comments
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Here is, word for word, the vitals of the letter sent:
"After careful consideration, our client, Lloyds TSB Bank plc, is prepared to accept the partial offer of £1.00 in full and final settlement, provided that the payment is received at this office by 22nd July 2009.
On receipt of the payment we will take no further action to recover the remaining balance and will advide the Credit Reference Agencies accordingly."
Please note this letter was received 25th of June and they cashed my £1 cheque, sent with the initial £1pm offer letter, shortly after I got this. Therefore, I have kept to the terms. They did not notify me of my mistake until I called today (deadline day) to check the progress of my settlement.0
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