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Arrow Global - Credit Security Limited - Should I settle?


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Hi All,

 

I have posted in various other threads about a debt with Mint for around £3000 dating back to 2007.

This was originally passed to Bryan Carter who I sent a CCA request to, and was then not chased for 3 years until I received notice of assignment to Arrow Global/ Westcot earlier this year.

 

I have not responded to them in any way since, however they now appear to have passed this to Credit Security Ltd who have sent me 2 letters threatening a doorstep visit.

 

I have today received an offer from Credit Security offering me a 10% discount for full and final settlement.

 

My question.

 

I have recently come into some money which amounts to 75% of this debt and I would like to get this matter closed once and for all as this is now the only debt I have outstanding thanks to help and advise from this site. However, should I enter into negotiations with Credit Security or should I discuss with Westcot to offer around £2000 in full and final settlement?

 

Can anyone please advise the correct way to negotiate to ensure that the debt is marked as settled on my credit report and this matter can be closed completely.

 

Many Thanks

 

Laura

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Hi welcome, If you want to make a full and final settlement obviously you want it to be as low as possible,I woulsd make a first offer of no mor than 15-20%

to test the reaction, you can modify when you get aresponse.

Also when you do this ensure it is on YOUR terms, Insist that the settlement is FINAL and they must not sell or assign any balance remaining to

any other company or organisation.

Brig.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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As Brigadier states start of low,take into account Arrow Global will have paid between 7% and 15% for this debt although they will not admit it.In turn this makes 10% discount seem stupid,the various DCAs want their slice.

 

Have a Look at Sequencis Blog on this subject,F&F is a minefield

 

Regards FS

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Good Idea FS Sequenci's advice is excellent.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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