Robinson Way Debt question

[cantosis]

Hi There,

 

 

I have about 4 debts with different DCA and I have been making an effort to write and offer them amounts that I can afford to pay as full and final settlement. the response I got

 

"we refer to your offer to pay a sum in settlement of your liability for your account. we can confirm your offer is accepted provided you pay on time. wehave reduced the amount due to the sum you agreed to pay.

 

Once this reduced amount has been paid, your credit file may be updated with the credit reference agencies as "partially settled". If you fail to honor this agreement the original amount will be become payable in full.

 

Do you think I should accept this or if I push them I will be able to get it changed to settled and maybe get the default removed??? I feel a bit uneasy with these terms

[Conniff]

You have more chance of winning the lottery than getting them to remove the default.

 

If you do, check the wording isn't just full and final with them and they sell it on to someone else to get the remainder.

[Stigman]

No!!!

 

You need it in writing that not only your credit file WILL be updated to partially settled, the letter you got only says MAY!

Without Partially Settled on the CRA file, the remaining balance is still open to be sold on - see below.

 

You also need it writing that any remaining balance will not be passed on or sold on to any other DCA or third party for collection.

 

Stigman

[PGH7447]

agree with stigman - make sure that the letter states FULL and no further action will be conducted on the remaining amount - trust a dca as far as you can throw a car, in other words dont trust them at all

[BRIGADIER2JCS]

You must get the following agreed explicitly in writting.

 

The offer of Full and Final Payment is made on the following conditions:

 

1. Any remaining balance is not to be sold or assigned to any third party.

2. All credit reference files are to be marked as satisfied no ''partial'' entry is acceptable.

Please confirm your agreement within 7 days.

[dx100uk]

foget the partial settlement marker - never settle for that!

 

settled with ALL neg data REMOVED.

 

they are offering a discount

 

this means there is something WRONG with the debt.

 

you need to findout WHY.

 

sar the OC.

 

it maybe that the default should be removed anyhow

because of PENALTY charges.

 

dx

[Bazooka Boo]

Yep saw that too, any mention of a discount mean that this won't go near a court and they have no leg to stand on, wouldn't touch it with a barge pole.