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Full & Final Settlement offer advice on how to clear asap


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Was the debt sold onto a DCA, if so was there a proper assignment of the debt? I was being taken to Court by a DCA but there had been no proper assignment and so I was able to negotiate an out of court settlement, however I applied for the judgement set aside first and settled out of court before the hearing with the condition that they wrote to the court agreeing to the judgement set aside and CRA's would be updated.

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Horsemad1,

 

Sorry about this, and please don't take it personally, but I am not replying to pm's at the present time and for the forseeable future, I have stated this in a thread called 'Private Messaging on this site'.

 

If you have any problems with your Full and Final Settlements then please post them up out here in the public forum and I will respond here in public when I can.

 

Kind Regards

 

The Mould

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IMHO that is by far the best method.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hello horsemad1,

 

How is it going?

 

May I just ask you for a favour?

 

Would you please post up the Full and Final Settlement Offer letter that I advised you of, also could you please post up the mistake that I mentioned about your first settlement offer and finally could you please post up the follow up letter that you sent to the robots (creditors) who didn't understand what their conduct equated to in relation to being bound to the agreement.

 

I am asking for a lot, I know, and you are very busy with your super little children also, so when you have the time I would be grateful if you could do this for me, there is no rush and don't worry about your creditors if they might be able to identify you.

 

Thank you very much indeed in advance.

 

Kind Regards

 

The Mould

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No probs Mould, youv'e been there when i needed you. I'll gladly do the same. Saw your post about pm's, not sure why there should be a problem with them? anyhow, will post all info up.

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Hi Horsemad,

 

Just been reading your thread with interest - really pleased it has gone so well for you. I am in a very similar situation and would be grateful if you would post the info from The Mould up to this forum.

 

To The Mould,

 

It sounds like you have a been a STAR!!!!!

 

Good luck to everyone trying to sort their finances out in the best way possible.

 

Zooee!

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Hello again to all,

 

Well it is going to become even harder for all the 'Good debtors' over the comming months, David Cameron anouncing all these spending cuts.

 

People suffering with these debt problems now through no fault of their own are going to be hit even harder by their creditors and the DCA's, there is no assistance now from any of these organizations, there won't be any assistance at all when we are all faced with even greater struggles with our finances.

 

David Cameron, you want some imput from the people of this Fine Country, well here is my imput for you and your coalition government, stop worrying about saving the gold and concentrate instead on saving our lives, what are you, Mr Cameron going to do about the banks, creditors and DCA's who refuse to help genuine people who are struggling with their finances?

 

Kind Regards

 

The Mould

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Here is the templated letter I used in the first instance for the unenforceable debts.

 

"Without Prejudice

I write with reference to the money which you are claiming on the above account. I can confirm that I am unable to offer to pay the money which I owe in full, due to being in financial difficulty, furthermore following my requests you and xxxx have failed to supply me with a compliant true and certified copy of the Consumer Credit Agreement for this account which therefore renders it unenforceable at law.

However, with the help of a family member I can raise £xxxxx and I want to offer this an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released for any liability.

I also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as "satisfied" in full and any default notices be removed due to the ‘disputed’ status of this account. Payment can be made by the 30th July 2010 and would request receiving your written agreement of this offer and method of payment.

I look forward to receiving your reply".

 

However The Mould pointed out that it states 'the money which I owe' on it although it does not state that it is in agreement an is therefore ambiguous, but should be superseded with the next letter.

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This was the 2nd letter used with cheque payment attached:

 

"REFERENCE: FULL AND FINAL SETTLEMENT PAYMENT

DCA Ref: xxxxxxxxxx

 

Note: For the purposes of this communication, 'I', 'Me', 'My', shall mean, (xxxxxxx), 'You', 'Your organization', shall mean; (dodgy DCA acting on behalf of unscrupulous bank), you, your personnel and associated companies.

 

To whom it may concern,

 

Despite recent discussion and correspondence, you and me appear to be deadlocked in this dispute regarding the above account.

In sending this communication to you, which is my further but absolute final attempt to obtain an amicable, mutually agreeable, satisfactory and honourable closure to the entirety of all matters that relate between you and me, I respectfully invite you to kindly afford your consideration to my proposal in order to secure that said closure for both your organization and my household.

Enclosed/attached to this letter is a cheque payment for the sum of £xxxxxthat is offered to you in Full and Final Settlement of the account without any admission of liability to the amount claimed.

The said enclosed cheque payment is offered only in Full and Final payment to the account, with the further conditions that should you accept the said cheque payment, then you agree that no further monies are required to the account and that the balance of the account will be put to zero and the account will be closed, furthermore, should you accept this settlement offer, then you also agree to make an entry on my credit reference files removing all adverse data and to show the status of this account as closed, settled and balance £0.

If you are not willing to accept the said cheque settlement payment enclosed, under these terms that the said cheque is tendered by, then I respectfully ask you to return the said enclosed cheque within seven (7) days of taking receipt of this communication.

 

I would like to draw your attention to the fact that my mind is fully furnished with the knowledge of my legal rights regarding improperly executed credit agreements, the credit agreement to this account is heavily flawed and certainly does not comply with legislation contained in the Consumer Credit Act 1974, therefore the credit agreement to this account is in a permanent state of being unenforceable at law.

 

I respectfully ask of you to absorb that indisputable fact while you give your consideration to my Full and Final Settlement payment proposal, this offer will not be repeated after the end of this month (May 2010) as the funds that have been made available to make this offer to you, will no longer be available from that point onwards.

 

If this offer is not accepted for whatever reason, then I would like to inform you that my household will have no problem ignoring your organization for the next six (6) yrs, and at that time this improperly executed and unenforceable agreement will have of developed into a state of statute barred.

 

Furthermore, if your organization or the third party acting on your behalf continues to send letters to my household intimating that you can take action against me regarding this account, then you should be aware that to do so would constitute an offence under the Malicious Communications Act, moreover and of equal importance, if your organization or the third party continue to make those threats of legal action, you will be also committing an offence under the Fraud Act as well as being in breach of regulations governed by the OFT.

 

I am sure that you will agree, that given the circumstances between your organization and me this does indeed seem to be the most suitable way to end this dispute.

I would like to express my gratitude to you in advance for your consideration to this communication.

I look forward in anticipation of being in receipt of your response".

Edited by horsemad1
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For those companies that actually banked the cheques, this was the follow up letter I have sent to them all and as yet am awaiting a response from any of them:

 

"REFERENCE: LEGALLY BINDING FULL AND FINAL SETTLEMENT AGREEMENTS

To whom it may concern,

FOR YOUR ATTENTION: The rule at law, case law in Full and Final Settlements. (408yrs of case law)

The foundation to the rule in law to this complex subject has been held in the High Courts and upheld in the Court of Appeal.

The said foundation is as follows:

The circumstances in which you (dodgy DCA & Unscrupulous bank), the creditor, will be bound by a cheque made out in 'Full and Final Settlement are:

1. The cheque is offered in circumstances where there is a dispute about the amount owed/the account.

2. The offer in 'Full and Final Settlement' of the dispute is made at the time the cheque is presented.

3. You present the cheque in payment and it is duly honoured, you present the cheque in payment and it is stopped or does not clear.

4. At the same time of or prior to presenting the cheque you fail to inform the payer that the cheque is not accepted in 'Full and Final'.

5. You present a cheque in 'Full and Final' that is offered 'Without any admission of liability to the amount claimed'.

6. You present the cheque for payment and it is from a third party.

7. You present the cheque for payment and ignore the clause in the settlement offer to return the said cheque if you do not accept the settlement terms.

8. You present the cheque when it is offered unequivocally in 'Full and Final'.

Otherwise, as the Court of Appeal explained, 'Paying in and clearance of the cheque is a clear and unequivocal acceptance..', furthermore, if a creditor should bank a cheque from a third party in 'Full and Final Settlement' of a sum (whether or not disputed) owed by your debtor you will have signified acceptance of it as discharge of the debt. Please see Hirachand Punamchand v Temple.

In a recent case Mr Justice Tugendhat ruled that acceptance of the settlement agreement had been completed by the creditor's conduct of paying in the cheque into the debtor's account, this was a clear, unequivocal and qualified acceptance of the settlement offer and the terms of the said offer by conduct. In this particular case, the cheque payment was stopped, but the Court ruled that the Settlement was still good.

My father (the third party) has informed me that the funds have cleared out of his account.

The rule at law on this complex subject holds in my favour, your actions of presenting the third party cheque enclosed with my letter of Full and Final Settlement Offer dated (17th May 2010) constituted a clear, unequivocal and qualified acceptance by conduct of the terms that the said cheque was tendered by, I do not legally or otherwise owe any further monies to you and this is an indisputable fact.

I respectfully request that you honour your now legal obligations under that instrument to which you are bound by in law and up-date my credit files and your internal record of my account as per the terms that you have agreed to contained in the said Settlement offer letter.

It seems to me that you fail to comprehend the language of the terms in my Full and Final Settlement offer, even though those said terms are unambiguous, therefore, I strongly recommend that you seek advice from your legal representatives, undoubtedly they will inform you that you nor anyone else have any legal right to pursue me for the balance, you nor anyone else have any legal right to claim ownership of the balance as the account has now been legally terminated and the debt has been discharged by virtue of your conduct in direct relation to my Full and Final Settlement offer.

If you fail to perform your obligations under the terms of the Settlement agreement that you have accepted within the next seven (7) days, then I shall follow Pre - Action Protocol and if there is still no positive result forthcomming from you I will commence with legal action against you for breach of contract.

 

I look forward in anticipation of being in receipt of your positive and swift response to this communication".

Edited by horsemad1
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First response received the DCA has totally ignored the last letter I sent recorded delivery and sent there usual threatogram of notice of possible litigation and to send payment before 12/6/10.

 

Mould, what pre-action protocol should I folllow or should I just start a claim in County Court?

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Horsemad

 

Unfortunately there are some typos in your second letter. You miss out the "neither". The sentences should say "neither you nor anyone else...."

 

This might totally alter the context - or might be regarded as de minimus.

 

I have learned from painful experience to always let a fresh pair of eyes check my letters. The writer tends to see what they meant to say - rather than what they did say.

 

BD

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First response received the DCA has totally ignored the last letter I sent recorded delivery and sent there usual threatogram of notice of possible litigation and to send payment before 12/6/10.

 

Mould, what pre-action protocol should I folllow or should I just start a claim in County Court?

 

 

Hello there horsemad1,

 

Don't worry, your settlements are good in law.

 

The thicko DCA robots have no understanding of contract law.

 

Keep the letters from the robots and the envelopes in a file.

 

OK who is the OC on this particular settled account?

 

Don't worry about issuing a claim just yet, remember these robots are all at basement level and they will do anything to hide the truth from their employers, also, they have been given instructions from their department Managers/officers in charge to ignor communications sent by most if not all of the customers.

 

These institutions are being investigated, the way in which they conduct their business is being called into question, their behaviour is unacceptable and inexcusable.

 

You do not legally or otherwise owe any sum amount to those creditors who have presented the third party cheque that was enclosed with the settlement agreement.

 

OK horsemad1, you and your OH can relax, really I mean it, I have been down this road many, many times before, they cannot do anything to you they are bound to the settlement agreement.

 

Let me know who the OC robot is and who the DCA robot is, please post these organizations names up here in this public forum.

 

Kind Regards

 

The Mould

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MINT & Moorcroft Debt Recovery, not worried about Moorcroft as seen them off many times with other accounts. However, just want it finished, accounts closed and credit files reflecting this, otherwise would have just ignored them for 6 years. My worry now is if we ignore them, they will just sell on the remaining balance, which was not the point of doing this. I am prepared to go to court if necesscary and would like it legally cancelled so without going to Court how do we get them to do this?

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MINT & Moorcroft Debt Recovery, not worried about Moorcroft as seen them off many times with other accounts. However, just want it finished, accounts closed and credit files reflecting this, otherwise would have just ignored them for 6 years. My worry now is if we ignore them, they will just sell on the remaining balance, which was not the point of doing this. I am prepared to go to court if necesscary and would like it legally cancelled so without going to Court how do we get them to do this?

 

 

OK horsemad1,

 

The account is legally cancelled, the settlement agreement has the effect in law that is required, qualified acceptance by conduct.

 

OK find out the name of the Company Secretary for Mint, the Office Of Fair Trading will have these details.

 

When you have the above information, send a short letter to the Company Secretary requesting that Mint honour what are now their legal obligations under the terms of the settlement agreement, enclose both of those letters that I drafted and afford them a time scale of fourteen (14) days to undertake their obligations of performing the acts that they have agreed to.

 

Legal discharge of your indebtness has occurred, Mint do not own any legal rights of ownership of the contract (the original credit agreement) nor do they have any claim under any laws of the United Kingdom to the balance that remained.

 

 

Relax, easy for me to say, but I tell you, it is even easier for you to do.

 

Do not accept any phone calls from the DCA robots, if they do sell what they do not legally own, then this will add substantial weight to your claim if indeed you will ever need to issue one.

 

 

Keep posting out here on this horsemad1, if you believe that you can trust me, then please pm me with your email address and I will give you my personal details, the reason I say this is because if you want me to contact those robots on your behalf and give them a gob full of facts to choke on then I will do that for you, it will cost you nothing and I will not make any money for doing that, I will however stand infront of you and defend you against these robots or any other robots for that matter.

 

I hope that will help to keep you and your family as stress free as possible.

 

Kind Regards

 

The Mould

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Had a weekend off from it all and feel better about everything this week.

 

Have had 6 responses (3 weeks after banking my cheques) from differents DCA's to my last letter, all offering me a refund as they banked my Fathers cheque 'by mistake'! OOPS silly DCA's - do you think they have finally read and understood the terms in my letters and therefore have realised theyv'e made a HUGE mistake?!!

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For all you doubters of The Moulds knowledge on contract Law and Full and Final settlements, this is for you: I went and asked a Solicitor for advice, due to the OH also being cynical about this working. I showed him the letters and he said "The contract was made upon them receiving and banking the cheque, the terms in my letter were very very clear and furthermore should they be foolish enough to try to pursue the balance in Court, they would not win as my Defence is complete in Law".

 

So I may still have a fight on my hands to get my credit files cleaned up, but effectively I have now had around £55k legally extinguished.... Around, 80% of my debts (Yes it was that much). There are a few more to contend with, but am no longer worried, as I will use the same method.

 

Thanks to all who contributed to this thread but in particular The Mould who has only ever offered help, advice and support, you have undoubtedly saved my life in more ways than you could ever know and for that I will be eternally grateful.

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For all you doubters of The Moulds knowledge on contract Law and Full and Final settlements, this is for you: I went and asked a Solicitor for advice, due to the OH also being cynical about this working. I showed him the letters and he said "The contract was made upon them receiving and banking the cheque, the terms in my letter were very very clear and furthermore should they be foolish enough to try to pursue the balance in Court, they would not win as my Defence is complete in Law".

 

So I may still have a fight on my hands to get my credit files cleaned up, but effectively I have now had around £55k legally extinguished.... Around, 80% of my debts (Yes it was that much). There are a few more to contend with, but am no longer worried, as I will use the same method.

 

Thanks to all who contributed to this thread but in particular The Mould who has only ever offered help, advice and support, you have undoubtedly saved my life in more ways than you could ever know and for that I will be eternally grateful.

 

 

OK Horsemad1,

 

Thank you very much indeed, I am extremely grateful for those wonderful comments.

 

Kind Regards

 

The Mould

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Horsey

 

Congratulations. You certainly seem to have hit on a winning strategy! A few weeks ago my son has had a cheque (around 30% of the balance) accepted in F&F of my debt by a DCA - who have admitted they bank the cheques and then read the letters later!

 

Anyway they have now admitted the cheque was sent with a very clear letter and they ignored the letter. The remaining 70% is being written off.

 

I am thinking of using their stupidity/greed (banking cheques immediately and reading accompanying letters later) to get other debts written off.

 

My son shall send my usual token monthly payment by cheque with an accompanying letter stating that the cheque is in F&F. If they bank it - then good bye debt! Anyone got any reason why this won't work?

 

BD

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