Barclaycard / Wescot - Full and Final Offer partly accepted

[tee_jay]

Hello Caggers,

I'm finally getting to the end of a long road to recovery from debt.

 

I have made a full & final offer to repay approx £1300 to Wescot for a default Barclaycard debt.

 

The default will 'fall-off' early next year.

I have been paying £70 per month.

 

My circumstances have changed and I can no longer afford this so I have offered a reduced payment of £5 per month

- or £600 as a full and final settlement.

 

I used the templates from CAG and advised this will only be paid if my file is marked as settled etc...

...this is their reply...

can you guide me on what to do next? Should I pursue the full settlement

or just pay them the £600?Many thanks,TJ

 

 

[dx100uk]

waste of money.

 

partial settlement

 

demand its marked settled and ALL neg data removed

 

else no deal

 

ever looked at reclaiming FEES + PPI.

 

dx

[citizenB]

If as dx has suggested there are charges or PPI that could be reclaimed - you could stick your heels in and reclaim those or advise that if they revisit their statement and remove negative data and mark at the very least "satisfied" then you will not counter claim for those.

 

If you dont have any to reclaim.. ..

 

 

You have in writing that no other party will pursue any outstanding balance, nor that it will be passed on for anyone else to do so.

 

If you are happy to accept this - your response which encloses the cheque should reconfirm that statement.

 

"Please find enclosed as agreed my cheque in the sum of £ xx in full and final settlement of the above account.

 

You have confirmed in writing that any balance will neither be pursued by your client or passed on to any 3rd party agency for collection.

 

etc, etc.

[scott12345]

hi dx100,,,,

could you explain why you sugest the offer would be waste of money??

i undrstand full and final wording far better,,,but if this dca has said in writing that there clients or any other party will purse the debt,,,,,why would you say is waste of money settling?surly the debtor would be covered by there written statement,,

sorry if im missing something,,,,,

[dx100uk]

if your 'goal' is to be able to get credit or a mortgage

partial settlement will prevent this for 6yrs even

if the 'sum or outstanding balance' does show £0

 

your need it to be marked SETTLED

 

and all neg data [i'e late/no/under/over payment markers]

removed.

 

if thats what you need

then getting PS on an F&F is a waste of the money

as it achieves nothing.

 

dx

[scott12345]

thk you for clarification,,

i totally aggree what you say makes complete sence,,

if however like me who wants to be debt free,,,but,,,not wanting to pursue any futher credit from anyone,,,,,would you say the wording would be fine in that circumstance,,,,again i agree with you,,full and final would be far better wording,,,

thks again

[dx100uk]

you could prob be debt free by reclaimng

 

get the statements

 

dx

[sequenci]

if thats what you need

then getting PS on an F&F is a waste of the money

as it achieves nothing.

 

dx

 

Disagree. A partial settement doesn't really hold much difference to a full settlement as per the credit file. I checked this out directly with the folks at Experian. it should still show that the balance is zero and a P flag is indicated on the file. So long as this is done (and it is usual practice as far as I've been informed) then it would hold little bearing.

[dx100uk]

know it does first hand sadly.

 

had PS on my file with £0 bal

 

refused mortgage.

 

got is changed to setlled

 

got mortgage.

dx