Full and final settlement

[Binker]

Hi

 

Sequenci: Yes, for us there is a major change in circumstances coming.

 

Chesterexpress: Unfortunately, and I cannot elaborate, you do not know the full story behind this situation or how we came to be in this situation. I'm sure if you did, you might just be slightly less agressive in your personal opinions. Not everything in life is so black and white.

 

Sequenci: just read your last post as i'm writing this. Thankyou, you have made me feel slightly less like a raging criminal

 

Binker

[Chesterexpress]

Binker, I have not been aggressive in my opinions, just honest.

[rowbo1071again]

Blinker I belive Chesterexpress is a DCA in disguise so I wouldn't pay him any attention what-so-ever. It is not his right to comment on your personal circumstances and this honourable (edit)hes coming up with about paying your debts is blackmail used by DCA's to ensure you pay your debts. Ignore the (edit)

[Chesterexpress]

Blinker I belive Chesterexpress is a DCA in disguise so I wouldn't pay him any attention what-so-ever. It is not his right to comment on your personal circumstances and this honourable (edit) hes coming up with about paying your debts is blackmail used by DCA's to ensure you pay your debts. Ignore the (edit)

 

 

Some of us have principals and believe in doing what is right. And I am most certainly not a DCA and neither am I involved in the finance industry.

 

Binker would you care to lend me £50k and I will then offer you a full and final settlement offer of £20k? As that is what your asking of the people you owe money to.

 

Oh and rowbo.....no need for personal insults

[Jess68]

i know situations are never as black and white as they seem and i do wish u all the luck with this Binker, and for the fresh start you need to make

[Binker]

Some of us have principals and believe in doing what is right.

 

You don't know who i am or what i have done in my life so who are you to start questioning my principles.

 

I thank the people who have given me their advice very much as this is what I asked for and will continue to do so and if I in return can offer any support to people, I will.

However I think its not the place for personal critisism and judgement and therefore Chesterexpress I ask if you have issues with the morality of what we have discussed, to start your own thread and not to continue to express your judgment about me.

[sequenci]

As I mentioned earlier, a Full & Final settlement doesn't warrant a discussion on principles or morals, it's simply an offer which will or will not be accepted by a creditor. There really isn't anything else to it.

[linz2011]

I do wonder why Chesterexpress is a member of this forum - NOONE condones debt evasion - this site is here to offer help and support to people who need it - it may be debt problems, bank charges issues or consumer issues.

 

Members come from all walks of life and sadly some people are faced with redundancy, illness, death, depression and things that happen without notice therefore unless you have the hard facts keep your opinions to yourself and set up your own website http://www.DCALOVER.com

[Chesterexpress]

I do wonder why Chesterexpress is a member of this forum - NOONE condones debt evasion - this site is here to offer help and support to people who need it - it may be debt problems, bank charges issues or consumer issues.

 

Members come from all walks of life and sadly some people are faced with redundancy, illness, death, depression and things that happen without notice therefore unless you have the hard facts keep your opinions to yourself and set up your own website www.DCALOVER.com

 

Linz...please keep to the facts and not throw insults like rowbo.. Yes this site is for advice, however I am entitled to a legitimate opinion and don't see why someone should have the benefit of spending someone elses money and then expect them to accept a 40% f&f offer. Sorry but I firmly believe that they ought to repay everything that is due. If people don't like hearing the truth that is tough.

[Jess68]

I am guessing at the circumstances being that these are not new debts so i would be quite surprised if the company had not already received repayment in interest and credit charges and the offer Blinker is making is on 40% of what is left of the debt and not 40% of the original debt.

[Binker]

You'd be quite right, Jess68

[linz2011]

You talk about facts??? yet you do not know binkers situation you are merely summising that debts have been run up with a view to only paying 40% off. Like sequenci quite rightly pointed out F&F's are accepted by lots of organisations and it is not a question of morals!

[livelylad]

Please refrain from using personal insults. Discuss your points in an adult manner please. Should personal insults continue I will moderate the posts and your account may be placed on moderation.

[gizmo111]

I think you should think carefully about how much you offer in F&F, you say that you are using all your equity to pay them off? No matter how generous your family are when you move you still don't know how long it wil ltake you to find a job etc, and you will need money to live on even if only for personal items until you find a job, then there is the dreaded month in hand. And I think you should give serious thought to having the cost of 2 tickets home in an emergency account - just in case.

Quite simply your creditors cannot have what you haven't got, but make sure your plans are financially sound before you offer them all your equity.

[powelll]

Or you may decide that you don't want to use you equity to pay the debts off ( you are not obliged to use this money ).

 

You could think about offering a small monthly payment based on what you can afford after essentials are covered - this may be a token or zero offer by the sounds of things at least initially...

 

If you have £100 or more as a surplus figure you could consider a free DMP eith either CCCS or PayPlan - this can be done from abroad as long as you have a UK based bank account to make payments.

 

 

My thoughts almost exactly Gizmo! I'm always concerned when people seem to be using every bit of spare cash to offer to non priority creditors...

[The GodMother]

GIZMO111

 

That is a very good comment. I had not thought of that but what i had thought is mabye she could put sum money to one side for emergancys. As you said she may not get a job for a while maybe 18 mths or so. I have family in australia who have there own business etc but did have to start at the bottom and work there way up. They emergrated to Australia 35yrs ago had a few problems when they first got there with jobs and housing and stuff like that but other than theat they have now got everything they need and more. Maybe Blinker should revise her plan slightly and consider putting a set amount of money to one side and having that for a rainly day.

[Binker]

Hi all,

 

As we can't go on as we are and after reading your advice, I think what we are going to do is offer a small payment each month instead of a f&f. As it stands i don't think they will accept the 40% we are offering but maybe in time we can look again at f&f if possible.

 

i've never done or seen a letter for this, are there any template letters to request this minimal payment. I've looked but couldn't find anything. I know you have to send in a budget planner too.

 

How long realistically can we expect to pay a minimal figure for? Is it just a short term thing, or could we do this for a year or two?

 

Instead of really struggling with minimum payments, we should have been doing this 6 months back and maybe our f&f's might have looked more favourable now.

 

Thanks again,

Binker

[Having_A_Knightmare]

Binker without reading the complete thread are you going to CCA them.

 

HAK

[Binker]

Binker without reading the complete thread are you going to CCA them.

 

Hi HAK, I wasn't going to. I know with one card, the application was done on line and available to view, and my signatures marked with a tick.

 

Doesn't this just raise alarm bells with the CC companies and they pass the debt on to a DCA straight away? Forgive my ignorance, I don't know much about all this and its a steep learning curve?

 

Binker

[Having_A_Knightmare]

Hi Blinker

 

Thats what I thought about 2 months ago. I have more debt them you can imagine.

 

Within 2 weeks of the CCA requests some info:

1. One bank closed my accounts worth 25K and satisfied my credit file.

2. £9K unenforcable application form

3. £5.5K unenforcalbe no agreement

 

Out off all sent non have complied fully with the CCA 1974. I am not saying its easy battling with the companies but after a while it becomes good fun.

 

HAK

[Binker]

Hi HAK,

 

WOW what an achievement, i bet you couldn't believe it.

 

I just assumed that these banks wouldn't get it wrong, maybe worth a shot then.

 

Do they pass any enforsable debts over to DCA's after you have requested a CCA or is that just me being wrong. Is it better to have a debt with the OP or a DCA. I'm a bit scared of the thought of being involved with a DCA.

 

Binker

[Having_A_Knightmare]

Do they pass any enforsable debts over to DCA's after you have requested a CCA

Not to my knowledge but someone may quote me different.

 

Remember the above amounts look a lot but I got in to trouble years ago and kept balance transfering for card to card. The banks kept putting my credit limit up, I kept balance transfering. I bet 70% of the above amounts are intresest.

 

HAK

[Binker]

So how is this for a plan...

 

1) CCA all 5 cards

 

2) See what comes from that (don't know quite what i'm looking for, is it just signatures on proper CCA and not just sign up agreement)

 

3) Ask for minimal 'token' repayments on all enforcable debts (is there a template for this letter?)

 

4) Maybe in a year see if we are still in a position to do a f&f.

 

 

Binker

[The GodMother]

Binker that sounds like a good idea. Will you still be in england in a year or are you still going abroad?

[Having_A_Knightmare]

Hi Binker

 

CCA all cards and start new threads per request.

 

Then all info you get you can repost on the thread.

 

You can scan the forms on post them on your thread so people cn look at them for you.

 

http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

 

CCA letter N

Token payment letter C

 

Dont forget not to sign the letters use a digital signature

 

http://www.consumeractiongroup.co.uk/forum/general-debt/110578-digital-signature-guide.html

 

Also try and send postal orders.

 

Send by Recorded Delivery.

 

Good Luck

 

HAK