Ex Gratia offers to Creditors - how likely to accept

[stevesj]

Before I send out letters with offers of full and final amounts, I want to canvas opinion on what you guys and gals think.

 

I have inherited a lump sum which will cover 64% of my debts across the board.

 

Creditors include:

Santander

Creation (cretin) finance

SYGMA Card

Lloyds TSB

 

Any experience on the membership that thinks they would accept?

 

I've been paying token pro-rata amounts for two months now. Cretin finance have declined my prorata offer, the others have gone with me.

[silverfox1961]

Hi

Before going the f&f route, have you reclaimed any charges or PPI that may be on thee agreements?

 

With your F&F, I would suggest having a maximum figure in mind then offering a quarter of that as a starting point. Some creditors will accept the lower amount.

 

Be aware that even though a creditor has accepted a F&F, this does not mean the rest is written off. There is nothing stopping the creditor selling the remainder UNLESS you get it in writing that they accept your money as a F&F and they will not sell any remainder on to any other party.

[dx100uk]

and never ever F&F unless they will remove ALL negative data

mark the debt 'settled' [NOT partial settlement]

 

and ensure they hold the legal paperwork too

 

i'd also check all of those debts SHOW on your CRA file too

 

if they don't then question WHY you are even paying it.

 

dx

[stevesj]

Thanks;

 

They all do appear on my CRF

There's no PPI, but there are charges....

 

I've taken the charges off the amount owing anyway as I don't see why I should pay them.

I will ensure that everything is in writing and reported correctly, just wanted to canvas opinion on likelyhood of acceptance from the creditors.

 

Think I will offer lower amounts and see where it gets me...

Edited March 18, 2012 by stevesj
spelling

[dx100uk]

dont forget the charges will be + their comp int rate

 

ci spreadsheet

 

dx

[ifu95702]

DX, I've never fully understood why the debt being missing from your CRA file means we should consider not paying it/ignoring it?

 

Apologies if I'm being stupid but can you explain?

[victoria_siempre]

Hi ifu

 

I don't think that you are being stupid; I have wondered the same thing.

 

The CRA has considerable status when considering formal routes like a DRO/IVA/Bankruptcy.

 

Perhaps more relevantly, accounts are sold on merry-go-round within the evil empire as spreadsheets and balances; I should certainly like to check thouroughly that said account actually existed before paying some random bandit and that random bandit had an audit trail.

 

x

 

 

v

[dx100uk]

there can only really be two reasons why debts dont show..

 

they ahave became statute barred and fallen off after 6yrs of no activity

 

or

 

a default at some point was registered

after 6yrs, paid or not, they will go off too in some circumstances.

 

All references to a defaulted debt must be removed from your credit files after 6 years has passed from date of default, whether paid off or not.

This is so that someone who continues paying something even after 6 years from default should not be at a disadvantage

to someone who pays nothing after default and ends up with a clean file after 6 years.

 

 

dx

[ifu95702]

Hi DX,

 

In my situation the debts are under 6 years old... the defaults were all around 2008. Can it just be that the OC's are crap and disorganised?

[victoria_siempre]

Hi dx

 

So if someone (Bob Diamond for example) issued a DN but recorded it as a AP, I would be b*ggered?

 

x

 

v

[brokebutnotbeatn]

yes. as I am by half of my debts - they haven't defaulted me at all just records AP's....

[victoria_siempre]

Hi broke

 

All mine show defaults which will foal off except Bob Diamond's whom I have telephoned (I know) to complain but was busy; I have ceased payments pending their posting of the default.

 

x

 

v

[brokebutnotbeatn]

sadly mine don't. But I figure I won't be needing a mortgage again so I'm not going to overly stress about it!

[dx100uk]

https://www.noddle.co.uk/signup?source=mgm

too

more than one helps

dx