Full and final settlement help thread

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  • StokieBecks
    StokieBecks Posts: 4,997 Forumite
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    Mica have you got it confirmed in writing that this will settle the debt with a zero balance outstanding. You need this before you make any payment to them. Also you need to keep this paperwork for six years
    £2 Savers Club for 2022 #12
  • mica2
    mica2 Posts: 66 Forumite
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    Is an email enough? They only said this though:
    "I can confirm we can accept a partial payment of £4,500.00 to settle your loan."
  • mica2
    mica2 Posts: 66 Forumite
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    I have now had a response from Wescot but I have yet to make an offer as I didn't know what the balance was. They are asking me to send them a detailed income and expenditure plus details of other settlements made? Should I not tell them the first settlement with Zopa (as it's only been confirmed today)? Or is it better to be transparent? My debt with Wescot is £1,478.07 so if they prove to be difficult I might just pay the full amount or whatever they agree.
  • fatbelly
    fatbelly Posts: 20,571 Forumite
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    mica2 wrote: »
    I have now had a response from Wescot but I have yet to make an offer as I didn't know what the balance was. They are asking me to send them a detailed income and expenditure plus details of other settlements made? Should I not tell them the first settlement with Zopa (as it's only been confirmed today)? Or is it better to be transparent? My debt with Wescot is £1,478.07 so if they prove to be difficult I might just pay the full amount or whatever they agree.

    Give them an income/expenditure showing zero surplus, and tell them everyone else settled at 25%

    And I'm only slightly joking.
  • mica2
    mica2 Posts: 66 Forumite
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    fatbelly wrote: »
    Give them an income/expenditure showing zero surplus, and tell them everyone else settled at 25%

    And I'm only slightly joking.

    OK thanks!! I will give it a try :)
  • myamyamoo
    myamyamoo Posts: 54 Forumite
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    I am in the process of sending off cca letters but am in need of a little guidance. Both cards are early 2000s. 1 natsvest now cabot the other berkleycard was egg. I had a successful ppi claim against egg does this affect the enforceability of the debt?
    Lastly postal order or cheque (I'll have to dust it first)
  • fatbelly
    fatbelly Posts: 20,571 Forumite
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    myamyamoo wrote: »
    I am in the process of sending off cca letters but am in need of a little guidance. Both cards are early 2000s. 1 natsvest now cabot the other berkleycard was egg. I had a successful ppi claim against egg does this affect the enforceability of the debt?
    Lastly postal order or cheque (I'll have to dust it first)

    I've always used postal orders but cheque is OK in the sense that it complies with the Act. It's just that there's no way I want creditors to see my bank account. However, I am usually doing them for third parties.

    When did you last make a payment to Bayclaycard/egg and Natwest/Cabot?
  • myamyamoo
    myamyamoo Posts: 54 Forumite
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    Hi fatbelly
    I am in a dmp with Stepchange so the payment have been monthly £25 to each for 3 years. Does this make a difference?
  • nextyeartina
    nextyeartina Posts: 756 Forumite
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    I owe £650 to Aqua which was passed on to 1st Credit. On numerous occasions I have tried partial settlements offers starting from 25%. They always came back with a discount of 10%. It's now been passed onto Intrum. I received a letter from them today offering an 80% discount if I pay in August, my default will be marked as partially satisfied and I won't be pursued by Intrum or any other third party for the remainder of the balance. Happy days :)
    The £1,000 emergency fund challenge #163 - £536.16/£1000
  • fatbelly
    fatbelly Posts: 20,571 Forumite
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    myamyamoo wrote: »
    Hi fatbelly
    I am in a dmp with Stepchange so the payment have been monthly £25 to each for 3 years. Does this make a difference?

    No - that's fine. It's just that you were asking whether a ppi claim affects enforceability. In your case it doesn't have any effect.
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