F&F Settlements - What to do now?

[l.boo]

Hello..

 

After looking online and finding various forum threads re: full and final settlements i recently decided to offer my creditors 20% of my balances.

 

The two which i wrote to are both to do with HBOS.

 

My first is an overdraft which i forgot about and the outstanding balance is £718.77 this is with iQor and they have wrote back saying that my settlement amount is not acceptable but that they would accept £540. I can't manage this payment and the letter states that they must recieve the payment within 14 days otherwise the full balance will stand and no further offers will be made. What do i do here? Obviously less is best but i am not in a position to pay £540. Could anyone guide me to a template for negotiating back (even if it looks like they wont negotiate at all!)

 

The other is my HBOS credit card which I have fallen behind on and is with Albion (i didnt know they were in-house!) and they have informed me that it is not company policy to accept anything other than the amount due which is approx £1600. What should i reply to them? Afterall the very same company are offering me a reduced settlement, albeit not as reduced as i need it to be, on another account.

 

I'm really perplexed now and I'm very unsure what steps to take next.

 

Any help would be greatly appreciated.

 

Thank-you

[rebel11]

Hi L

 

Have a read of the Full and Final settlement (9) in my signature.

 

Also there are some Templates here:- http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

 

Remember to write 'Without Prejudice' on anything you send them. You could ask them to write the debt because of your circumstance or offer to pay £1 a month for the next however many years, should get them thinking.

[l.boo]

Thanks for the quick reply rebel.. I made sure to put 'without prejudice' on both of my letters

 

The link in your sig doesnt appear to be working, i get 'Invalid Blog specified. If you followed a valid link, please notify the administrator'

 

I guess i will up my offer to iQor and see what they say and perhaps I should wait until the halifax cc debt has gone past albion and onto a real life DCA to make an offer again??

[rebel11]

I would, don't forget they would have bought it for peanuts, ' I guess i will up my offer to iQor and see what they say and perhaps I should wait until the Halifax cc debt has gone past albion and onto a real life DCA to make an offer again??'

 

Try clearing you 'cookies'.

[dx100uk]

got any reclaiming to do first? and how old are these debts and are they still both with the oc or been sold?

 

dx

[l.boo]

No reclaiming as i previously reclaimed £300 off of the overdraft in charges and it was to decrease by £65 per month except I forgot and its now at £718!

 

The overdraft is with iQor and has been since Feb 2010.. The halifax CC has just been an issue in the last few months and is with Albion Collections Ltd.

 

Rebel - do you mean you wouldnt??

[rebel11]

Wait until the CC Debt is sold to a DCA. I think you'll find that there will be new charges you can claim with interest.

 

No reclaiming as i previously reclaimed £300 off of the overdraft in charges and it was to decrease by £65 per month except I forgot and its now at £718!

 

The overdraft is with iQor and has been since Feb 2010.. The halifax CC has just been an issue in the last few months and is with Albion Collections Ltd.

 

Rebel - do you mean you wouldnt??

[l.boo]

Super angry today, Halifax have taken £200 out of my account to clear the arrears on the halifax credit card. All I get is benefits and my sons DLA was just swallowed by them. Cant afford school uniform now?! ARGH!!!!!!!!

[dx100uk]

i would fire off the letter/notice of appropriation from the library section

and demand it back

 

dx

[Undercover-Elsa]

Hi,

You also need to open a parachute account with an unconnected bank as a matter of urgency, and get your benefits paid in there, otherwise they'll keep doing this.

 

Elsa x

[l.boo]

OK guys.. I decided to reply to iQor with a slightly upped offer. The reply arrived this morning saying the following:

'upon checking our records we find that the account has been transferred for collection on a door-to-door basis. Therefore all arrangements and payments must be made with our collector who will call in due course.'

 

AHEM.. I do not think so. I have enough to deal with without some dirt-bag debt collector calling at my door.

 

Please could someone point me in the direction of what letter i should reply with. I had kind of thought i was in control but this kind of crap really makes me anxious.

Help!

 

(Also note that I am in Scotland so i'm guessing the laws are different with regards to doorstep collection up here)

Edited August 6, 2011 by l.boo

[dx100uk]

doorsteppers are not allowed in svotland

diff property laws

 

pers i'd ignore them now

 

dx