Iqor

[bobsp]

We had a letter from Iqor debt collection last year, late November stating we owe £560 ish. My wife phoned up to sort out paying then, and was told that if we paid today we would be able to pay a reduced settlement figure of £465.

We agreed and paid them the £465 on 1st December 2007 as full and final settlement.

Heard nothing from Ace catalogue or anyone since. Yesterday we get a demand from Wescott demanding the outstanding balance of £135. I explained that this has been paid in full last year, as full and final settlement to a company called Iqor. We were then told that was probably a partial payment, and the remainder (£135) has been passed onto them to collect.

I was fuming at this, and told Wescott to go back to ther client stating that we had paid Iqor £465 as full and final in Dec 07. They refused to do this and demanded that we prove we had paid this otherwise they will be taking us to court for the £135.

We dont have any of the paperwork anymore on this as we heard nothing, after receiving a letter from Iqor thanking us for the payment and that it was now closed in Dec 07.

Where do we go here?

Thanks in advance.

Bob

[PGH7447]

do you still have the letter form iqor?

[bobsp]

No we dont, we dont have anything on this anymore....

[Pinky69]

They do this all the time - accept full and final settlement offers then sell the rest of the debt to another company. The only way to deal with a full and final is to have everything in writing- their offer, your response and any conditions eg that your credit filed will be marked settled and any defaults removed.

Don't speak to them on the phone- ever. If you don't have the paperwork, you could send them a CCA request asking for a copy of the agreement. You can get advice on how to do this once you have posted what paperwork you have.

[Pinky69]

I notice you have been a member for a while so you probably know how to send a CCA request. I think this would be worthwhile as they probably bought the debt for £10 and won't want to go to any hassle to try to find the original agreement. Even if they can be bothered, there is no saying an agreement exists.

[bobsp]

Yes I think CCA is the way ahead. I will sort it out tomorrow.

More time spent that I haven't got......................

Thanks anyway.

[PGH7447]

Send Iqor a letter demanding that they explain themselves if they said full and final and have sold it on then take em to the cleaners.

[dannyboy660]

F&F settlements should always be arranged through a third party to make them legally binding National Debtline England & Wales | Debt Advice | Factsheet 24 Full And Final Settlement Offers

It should really be the debtor who makes the first move where F&F's are concerned. If a DCA/Purchasers approaches you then you can bet your rosy red backside it's just another con.

I know it's no consolation, but over on the Debt Questions website (run by Totemic, otherwise known as Payplan) there was a rush of people recently claiming they had paid F&F to companies like Equidebt and only paid about 20-30% of the debts value. That's fantastic you might think at first sight - but all they have actually done is made sure Equidebt (or whoever) get back what they paid for the debt plus a little profit. They have also accepted full responsibility for the debt, which can now be sold on to another agency to collect the remainder, making another little profit on the way. The payment means they have anything up to six years in which to sit on the remainder at their leisure, and sell on if and when they choose.

If it sounds too good to be true then it most probably is.
It's quite sad to see people actually in competition to get the biggest "discount" when in actual fact they are just being lead like lambs to the slaughter on a professional debt advisors web forum too.