Mbna Cca Not Received Offered Settle

[diddydicky]

PLEASE READ BELOW I HAVE ADDED A LINE INTO IT.

 

SHOULD I ASK THEM TO SEND ME A LETTER LIKE THIS.

 

Further to our recent communication, I can confirm that a settlement of £xxxx has been agreed on a balance of £xxxxx due by 23th October 2009.

 

Once payment is received, MBNA will register a partial settlement with licensed Credit Reference Agencies. However, you will not have to repay the remaining balance and MBNA will not pursue the matter further.NOR WILL IT PASS THE REMAINING DEBT ON TO ANY THIRD PARTY.

 

Once the xxxxx is received we can confirm this will be full and final settlement on the account.

If the specified payments are not received by the above date, the short settlement agreement will be null and void and the total debt will be due.

 

yes my m istake make sure the words full and final settlement of all outstanding matters between us is included

[Mydogsawestie]

Photobucket can help

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[Bazooka Boo]

Deleted my rant, read it again in the cold light of day and it was uncalled for, as Shadow said, only youseff knows his own circumstances and only he can guage whether or not to pay it, even though legally he would be obliged not too.

So please accept my apologies youseff, it is after all up to you to decide on the best course of action, I'll kick the cat next time I want to vent my spleen!

Edited October 9, 2009 by Bazooka Boo
Unfair & uncalled for comment..

[vint1954]

IMHO Youseff, I find it extremely irritating that after all of the solid and sound advice that has been given you, you're still unable to heed it.

 

You came here seeking good advice and have decided to ignore it, so hand over your hard earnt cash, and please don't waste my time and that of others if you are not going to listen to it;

Can only agree, if you do not get Full and Final, they will sell it on and others will chase for the ballance.

[Readalot]

reportedly, it is a routine practice for MNBA to offer such settlements but the offers are worded very accurately to avoid any mentioning of 'full and final settlement'. It appears that they intentionally omit it in order to trick customers into thinking that paying 30% will put an end to it. In reality right after receiving this 30% payment they will resell the debt for another 10% (or so) of the outstanding balance to a DCA.

 

There is not point whatsoever to agree on anything but 'full and final settlement' and it was reported that MNBA is refusing f&f offers and simply fishing for customer who do not know the difference between "full and final" and partial.

 

What a lowlife...

[Stephan56]

Agree entirely with the other posts. You need to get a FULL AND FINAL, with the account balance showing 0 (ZERO) after any payment. Also I am told more "watertight" if a 3rd party makes the payment on your behalf.

 

Also, credit reporting should be SATISFIED IN FULL or PAID IN FULL.

 

Pointless to pay X%, even if at a big perceived discount, only to be chased for the rest. Anything less than a FULL AND FINAL is illusory.

[vint1954]

reportedly, it is a routine practice for MNBA to offer such settlements but the offers are worded very accurately to avoid any mentioning of 'full and final settlement'. It appears that they intentionally omit it in order to trick customers into thinking that paying 30% will put an end to it. In reality right after receiving this 30% payment they will resell the debt for another 10% (or so) of the outstanding balance to a DCA.

 

There is not point whatsoever to agree on anything but 'full and final settlement' and it was reported that MNBA is refusing f&f offers and simply fishing for customer who do not know the difference between "full and final" and partial.

 

What a lowlife...

Correct

[yousef1973]

I have decided not to pay them, they said they will not put f&f

i tried to explain whats the difference, your just changing words, but she was being clever.

 

so i told her to stick it

 

they are idiots

[Bazooka Boo]

:DGOOD FOR YOU!!

 

Way to go youseff, now your talking my language:D

 

Lets see what goodys the postman brings you next week, sad acts.

 

Boo;)

[IdaInFife]

you did this over the phone? bad idea

 

if you still wanted to offer full and final to get rid of it you can send:

 

Account Number:

Dear Eejits

Thank you for your letter dated xx/xx/xx, in which you confirm that you are willing to accept £xxx.xx as settlement of the above account.

While admitting no liability for the account and the sum claimed as owing, I am willing to offer the sum of £xx as an ex-gratia payment in full and final settlement of the account.

This offer is made on the clear understanding that neither you nor any associate company will take any further action to attempt to enforce or pursue this debt in any way whatsoever and that any and all liability on our behalf will be fully discharged on receipt of the above stated monies.

This offer is made on the condition that of all adverse entries regarding this account are removed from our credit files with the credit reference agencies and is marked as satisfied in full.

Payment can be made within 2 weeks of receiving your written confirmation of your agreement of this offer and the subsequent terms of the offer. Please also identify your prefered method of payment and the details of making said payment.

Please note this offer will expire on (date - give them a couple of weeks) if no letter of unconditional acceptance is forthcoming and may not be repeated as this will then be offered to another credtor. This offer is not open to negotiation.

We look forward to receiving your reply.

 

ida x

[Readalot]

Looks like we have a consensus here.

 

If one really wants to settle the account it might be possible to give them a counteroffer. By this I mean the following:

 

- Ask a third party (a relative), to write a cheque for let's say 30% (or less) of the full amount.

- Write on the cheque 'consideration for full and final settlement of account XXX'

- Attach it to a letter with text along the lines of IdaInFife's post. But note that by caching the attached cheque they accept the offer. Should they decline your offer they shall either return or destroy the cheque.

- Set up time of expiration of the offer, for example 30 days. This is to make sure that it does not come up all the sudden in 3 years time.

- State in the letter that this payment is done by a third party exclusively for the purpose of paying consideration for this offer and shall not be used for any other purpose whatsoever.

 

I think that if they cash the cheque this means they accept the offer and bind themselves into a contract which will be virtually impossible to get out of.

 

This approach is a bit cheeky since greed might be just too strong and they probably would not even read attached letter.

[overdone]

 

I think that if they cash the cheque this means they accept the offer and bind themselves into a contract which will be virtually impossible to get out of.

This approach is a bit cheeky since greed might be just too strong and they probably would not even read attached letter.

I know that this requires an undertaking from both sides. Be carefull not to prejudice the case with this payment as it appears their is no valid cca. Case is stacked well in favour of Debtor. But they are clever B*******s you are dealing with as you can tell.

Edited October 9, 2009 by overdone
info added

[Bazooka Boo]

you did this over the phone? bad idea

 

Ida, yousef has repeatedly been advised not to entertain them over the phone, advice which has been ignored unfortunately, and they have still not been able to provide the OP with a valid CCA, the account is in dispute and therefore they should not be enforcing 'any' collection activity.

 

You can lead a horse to water, but you can't make him drink!

 

And this is exactly the case with the OP, all good solid advice has been given, it is up to the OP to use it to his advantage.

[diddydicky]

you did this over the phone? bad idea

 

if you still wanted to offer full and final to get rid of it you can send:

 

Account Number:

Dear Eejits

Thank you for your letter dated xx/xx/xx, in which you confirm that you are willing to accept £xxx.xx as settlement of the above account.

While admitting no liability for the account and the sum claimed as owing, I am willing to offer the sum of £xx as an ex-gratia payment in full and final settlement of the account.

This offer is made on the clear understanding that neither you nor any associate company will take any further action to attempt to enforce or pursue this debt in any way whatsoever and that any and all liability on our behalf will be fully discharged on receipt of the above stated monies.

This offer is made on the condition that of all adverse entries regarding this account are removed from our credit files with the credit reference agencies and is marked as satisfied in full.

Payment can be made within 2 weeks of receiving your written confirmation of your agreement of this offer and the subsequent terms of the offer. Please also identify your prefered method of payment and the details of making said payment.

Please note this offer will expire on (date - give them a couple of weeks) if no letter of unconditional acceptance is forthcoming and may not be repeated as this will then be offered to another credtor. This offer is not open to negotiation.

We look forward to receiving your reply.

 

ida x

 

if they made their offer under "without prejudice", i would write them an open letter and refer to their offer to settle,( but without stating the actual amount) then state that you would have been prepared to accept their offer of a settlement but have been unable to do so as you feel that their refusal to mark this a full and final settlement and allay your concerns that they would then sell the balance of the alleged debt to a third party tends towards the offer being disingenuous

 

 

 

further- i would also advise anyone, who is offering or considering offers from the other side to settle NEVER to give the impression that you will do so from your own funds

 

a DCA or creditor offering you a part settlement will often do so to "fish" for evidence that you might have capital funds knocking around - they will be encouraged if you then start bartering that they may be on the right track.

 

FAR better to point out that any funds to settle a debt will be arranged from a third party and that a condition of the funds is that the third party will pay the agreed funds directly to the creditor via their own solicitors (you do not HAVE to stick to this route once the creditor has formally agreed).

 

IMO of course

Edited October 10, 2009 by diddydicky

[Bazooka Boo]

A very good and valid point DD, IMO any offer of a F&F payment should only ever be made, then paid from a 3rd party and be accepted within a reasonable period of time, pretty much the same timescales these clowns give out to alleged debtors!

[yousef1973]

THANKS FOR THAT, IT WAS ACTUALLY DONE VIA EMAIL.

AS THEY SENT ME THE LETTER THROUGH EMAIL AND HARD COPY

 

EMAIL AS FOLLOWS

 

hi Mr xxxxxx

The settlement agreed by our head of department is xxxxx of your £xxxxx balance. We cannot reduce any further, also the letter that you will receive will not be amended as this is a standard letter that has been approved by our legal team. If you wish to proceed with original agreed terms then contact me on 01244671026 ext 14962

 

may be i should send them the above letter. even if they don't accept, at least i will have proof i tried to come to arrangement if this matter goes any further.

 

[vint1954]

THANKS FOR THAT, IT WAS ACTUALLY DONE VIA EMAIL.

AS THEY SENT ME THE LETTER THROUGH EMAIL AND HARD COPY

 

EMAIL AS FOLLOWS

 

hi Mr xxxxxx

The settlement agreed by our head of department is xxxxx of your £xxxxx balance. We cannot reduce any further, also the letter that you will receive will not be amended as this is a standard letter that has been approved by our legal team. If you wish to proceed with original agreed terms then contact me on 01244671026 ext 14962

 

 

may be i should send them the above letter. even if they don't accept, at least i will have proof i tried to come to arrangement if this matter goes any further.

 

 

Send it if you wish, but do not accept a short settlement.

[diddydicky]

THANKS FOR THAT, IT WAS ACTUALLY DONE VIA EMAIL.

AS THEY SENT ME THE LETTER THROUGH EMAIL AND HARD COPY

 

EMAIL AS FOLLOWS

 

hi Mr xxxxxx

The settlement agreed by our head of department is xxxxx of your £xxxxx balance. We cannot reduce any further, also the letter that you will receive will not be amended as this is a standard letter that has been approved by our legal team. If you wish to proceed with original agreed terms then contact me on 01244671026 ext 14962

 

may be i should send them the above letter. even if they don't accept, at least i will have proof i tried to come to arrangement if this matter goes any further.

 

 

i would write as i have suggested- your open letter can be referred to in court if needs be

[Readalot]

In any case this is all smoke and mirrors, they have no intention of any full and final settlements, just looking for naive, stupid and gulible to take on their 'partial settlement' rip-off. One is better off paying 1£ month than accepting their offer. The consequences are the same, except taking on their offer will cost much much more.

[Bazooka Boo]

Yousef has already told them to stick it where the sun don't shine.

And regardless of all the advise being given, it is up to yousef to use it how he sees fit.

 

The fact that they cannot provide any evidence as to the agreement is sufficient evidence for me to tell them to foxtrot Oscar!

[Reader]

Hi All, what is the difference if you put "prejudice" on an offer if there is no cca? I am getting confused as some say you can put it and some say don't?

 

thanks Reader

[the_shadow]

Hi All, what is the difference if you put "prejudice" on an offer if there is no cca? I am getting confused as some say you can put it and some say don't?

 

thanks Reader

 

"Without Prejudice" is used to protect the sending party from disclosure in open court of an offer which may be seen as a perceived weakness of case or even acceptance of the debt.

 

These offers can only be disclosed if a) both parties agree b) the one making the offer refers to it in open court or c) at costs stage.

 

If you make a financial offer and dont head it "without prejudice" then you are in fact acknowledging the debt and your offer of repayment of said debt. If you know they have proof that it is your debt and your not seeking to deny the debt is yours just that the claimant has a right to collect then its not such a big issue imo.

 

S.

[Reader]

Thanks Shadow, I had to read that a few times to sink in;) I get it now.

 

Reader

[anxious123]

Hi, wondered if anyone here could help. We're in the middle of a court battle and have just received an offer for full and final settlement. We don't have any relatives who would be able to afford anywhere near what they're asking (around £7k). If we write back refusing, can we make a much lower offer later on? (if by chance someone is able to help us at some stage in future....)

[Bazooka Boo]

Hi, wondered if anyone here could help. We're in the middle of a court battle and have just received an offer for full and final settlement. We don't have any relatives who would be able to afford anywhere near what they're asking (around £7k). If we write back refusing, can we make a much lower offer later on? (if by chance someone is able to help us at some stage in future....)

 

Can you start your own thread, so that people are able to help you.