Full and Final Settlement guidance

[strepsi]

Good evening this is my first post to this forum.

 

I am looking to send some f and f letters to DCA's in the week, can anybody advise on what level I should aim at I was thinking starting at 20% of outstanding balance.

 

Can people give me an idea of their experiences/successes.

 

Cheers

[SabreSheep]

Noone here can read a crystal ball.

We would need to know the history of each debt and know if any ppi existed also if it were credit cards, how many late payment and overlimit fees were applied.

 

Get reclaimables done first.

Also CCAs where appropriate.

 

Also be aware that paying them off will not improve your credit rating

[strepsi]

We got ourselves in "quite" a mess last year. We are doing a self managed dmp, we have been making pro rata payments to all our creditors, cc's, loan, overdraft and next/Ikea. We have already got defaults. We are finding it difficult to stick to our budget, I was considering making £1.00 token payments, trying to save and then make offers.

 

I have considered PPI, I am sure we will have some, could there be an argument for trying to reclaim bank charges as this would get rid of a chunk of what we owe hsbc.

 

All advice welcomed.

 

Cheers

 

 

Noone here can read a crystal ball.

We would need to know the history of each debt and know if any ppi existed also if it were credit cards, how many late payment and overlimit fees were applied.

 

Get reclaimables done first.

Also CCAs where appropriate.

 

Also be aware that paying them off will not improve your credit rating

Edited March 24, 2015 by strepsi

[dx100uk]

have you sent a CCA request to everyone you are paying?

[strepsi]

No, what exactly is a CCA.

have you sent a CCA request to everyone you are paying?

[dx100uk]

click the CCA request link

 

 

it puts whomever you are paying to strict proof to provide your signed agreement.

 

 

can you list whom you are paying and when you first took that debt out

 

 

might be an idea to get your credit file too

do aLL your debts SHOW

 

 

noddle is free see below

[strepsi]

Briefly, majority of our debts were 2013. However my wife thinks she got her next account in 2007/8 and I got a hsbc flexi loan in 2006 and hsbc overdraft prior to this.

 

click the CCA request link

 

 

it puts whomever you are paying to strict proof to provide your signed agreement.

 

 

can you list whom you are paying and when you first took that debt out

 

 

might be an idea to get your credit file too

do aLL your debts SHOW

 

 

noddle is free see below

[dx100uk]

whom are you paying please

you mention DCA's.

 

 

its better to get everything listed properly then we know how to attack the enemy

 

 

dx

[strepsi]

Thanks.

 

Will get a list, how do you "attack the enemy"?

[dx100uk]

by a CCa request

[strepsi]

Will send list tonight, what other information would you want to see.

[dx100uk]

whom are you paying please

you mention DCA's.

can you list whom you are paying and when you first took that debt out

We would need to know the history of each debt

and know if any PPI existed

also if it were credit cards,

how many late payment and overlimit fees were applied.

[strepsi]

Ok, so here we go...

 

 

Key= M (Mine) W (Wife)

 

 

Credit Card

Natwest 2013 (M)

Natwest 2013 (W)

Tesco 2013 (M)

Tesco 2013 (W)

Asda 2013 (Creation) (M)

Asda 2013 (Creation)

Halifax 2013 (M)

Halifax 2013 (W)

Barclays 2007 (M)

Barclays 2013 (W)

Virgin 2007 (MBNA) W

MBNA 2013 (M)

Santander 2013 - Now been moved to Mint (DCA)

Sainsbury 2013 - Now been moved to Westcot (DCA), approx. 10 months ago

Bank of Scotland 2013 - (M)

TSB 2013 (M)

HSBC Flexi Loan (2006) (M)

Ikea - Finance

Next (2008) - Brecon Debt Recovery 2014(W)

Barclay Partner Finance 2013 (M)

BPF 2012 (W)

Creation Consumer Finance 2013(M)

 

 

As far as we are aware there is no ppi or any of this credit, however we feel that there could ppi on cards that we no longer hold. We have late payments on all of the above. I have not included overdraft within that list.

 

 

Cheers

[dx100uk]

ouch most f those are post apr 2007 so a CCA request wont really help you.

 

 

me thinks you p'haps need better help than we can give.

there wont be that many penalty charges nor , I expect. much PPI to reclaim.

 

 

it might pay you to give the national debt line a ring.

 

 

dx

[strepsi]

We have spoke to stepchange last year, took the decision to do a self managed dmp. We are plodding on...

 

We are not looking to move house again, other than our annus horriblus 2013 we have never really need any form of credit other than car finance. So really wouldn't require applying for any more credit.

 

So would there be an argument just to make token payment for the foreseeable future (5 years), as we have defaults already. In that time save enough and then do f and f's.

 

What do you think, IVA has been mentioned last year, but we really felt that we didn't want to go down this route.

 

Cheers

[dx100uk]

little point in paying token payments really just elongates the SB date.

 

 

step change will want to action 'something'

 

 

NDL will take the whole picture and advise whats best to do

they are impartial,

Payplan/stepchange are not .

 

 

dx

[strepsi]

Thanks for help and advice.

[strepsi]

Hi,

 

 

To make you aware just been checking Noddle,

 

 

it appears my Barclaycard was August 2004, it is not showing defaults on this only 'arrangement pay' and

 

 

hsbc flexiloan May 2006, there is in total £11000 here.

 

 

Cheers

[dx100uk]

oh god the dreaded AP marker

kills your credit file for 12yrs almost

 

 

might be better you start a new thread for each debt

 

 

dx

[strepsi]

Appreciate, your advice. With regards is there an argument to force them to default me, by not paying or renegaging on agreement?

[dx100uk]

start a thread in the Barclaycard forum.

 

 

better answered there