Full and final settlement help thread

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  • National_Debtline
    National_Debtline Posts: 7,998
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    traceydc49 wrote: »
    Hi, I have recieved a letter back from Cabot this morning telling me they cannot be provided with the original CCA on my loan with RBS, the amount is for 1,925 Ive had the card for over 10 years. How much realistically can I offer to them as F&F payment? & can I email them or better in writing? Im still waiting for others to reply, but this is a start!!!! Advice off everyone on here is priceless! Thanks

    traceydc49 wrote: »
    Sorry, meant to add my income has gone down, I have secondary progressive MS & been paying off debts for over 10 years, hubby is my carer, would they take this into account?


    Hi Tracey


    I don't know your full circumstances but I'd say the above info means it is worth you asking that the debt be written off altogether as a goodwill measure. Cabot won't realistically be able to enforce an agreement of this age if they can't comply with a CCA request. That - together with your health issues - means there would be some justification for your request.


    I would try this approach first and then come back for more advice on your options if you get turned down. We have a template for requesting write-offs you are welcome to use:


    https://www.nationaldebtline.org/EW/sampleletters/sole-letters/Pages/Write-off-the-debt-(sole-name).aspx


    Dennis
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • Thank you so much Dennis, I thought I would be expecting too much to ask that, I do take full responsibility for all my debt, but if this could be a possible outcome I couldnt thank you enough for giving me this info. Thank you again! Tracey
  • Hi sorry to post again! I've received a letter from dlc, acting for Hillesden Securities Ltd, in response to my CCA request, they are informing me they have filed to MBNA for my agreement, but in the event of not being able to provide it they will supply a reconstituted copy which satisfies the requirements of the Act. Can anyone clarify what they mean by this please?
  • If they can't find the one you actually signed for them, they will reconstitute it.
    ~~I am debt free~~
  • sourcrates
    sourcrates Posts: 28,717
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    traceydc49 wrote: »
    Hi sorry to post again! I've received a letter from dlc, acting for Hillesden Securities Ltd, in response to my CCA request, they are informing me they have filed to MBNA for my agreement, but in the event of not being able to provide it they will supply a reconstituted copy which satisfies the requirements of the Act. Can anyone clarify what they mean by this please?



    Basically it means that they can use information they hold on there systems about you, to reconstitute a copy agreement, that would satisfy your sec 78 request.


    If they do not already hold this information, they cannot simply make it up.


    Now dependant on when the account was opened, a recon version may satisfy section 78, but may not be good enough to be relied upon in court.
    If the account was opened prior to April 2007, a recon agreement may not be sufficient to be relied upon in court, but for agreements made after that date, it would be.


    In the end only a court can decide this, but if there are paperwork issues, a creditor will sometimes admit defeat.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Thank you! It was taken out in 2003, defaulted 2005, just hope it doesn't have to court! Thank you again
  • sourcrates
    sourcrates Posts: 28,717
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    traceydc49 wrote: »
    Thank you! It was taken out in 2003, defaulted 2005, just hope it doesn't have to court! Thank you again



    In that case a recon may not be sufficient.


    Post back when you have received it, and well give it the once over.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Hi me again! I have received another letter from Cabot, for another loan I had with them, but on this 1 my husband is the garentor( excuse the spelling ), they are telling me they haven't got the info on their files, however they have requested the relevant details which will include the credit agreement, statement of account & original & varied t&cs from the original lender. In the unlikely event we are unable to obtain this info within a 40 day time limits we will write to you again.
    I have read it as, they are very confident they can obtain these documents, the other letter for a different loan stated they couldn't get the CCA, therefore it was unenforceable, just posting for some advice & reassurance really, the loan is for £2,267.83. I don't want any consequences for my husband when it comes to making f&f offers, the loan was taken out 2004. Sorry to sound so stupid. Thank you
  • Just another thing I meant to add, because I was compensated by the miselling of PPI, could they obtain the documents through this? The bank of Scotland must have had the details, otherwise they couldn't have paid the compensation? The funds I am trying to reach f&f with have all come from this, although it is only amounts to half of all my debts, which is why I'm trying to make sure I can clear all of them with this lump sum, debts £16000, lump sum £8000. Thank you.
  • fermi
    fermi Posts: 40,546
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    traceydc49 wrote: »
    I have read it as, they are very confident they can obtain these documents,

    That is their standard holding letter, so may not signify one way or the other actually.
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