Negotiating F&F settlement with creditors to settle debts worth £5815.33

[moustachekorma]

Thank you to all the site team for your assistance so far,

I am been trying to get my finances back on track over the past year and am now looking to negotiate with creditors to get these settled on my account.

 

 

Ideally I would like the debt to be marked as satisfied fully, but understand that some creditors will only mark the debt as partially satisfied if F&F is agreed.

 

 

I have been researching on CAG for a few weeks and there is so much useful information, but I am unsure how to proceed.

 

I have listed the creditors below with the last known correspondence that I have from them.

 

Would I be correct in thinking that the first step would be to submit a Cca request to Lowell and Arrow Global and a sAR to Natwest?

 

Lowell Portfolio Ltd:

• Mail Order Agency: £160.64 Default 23/05/2013

 

Last known correspondence: BPO collections wrote to me on behalf of Lowell on the 9th March 2015 to advise that they would be prepared to accept a 70% discount and the debt could be settled for £112.45

 

• Mail Order Agency: £204.78 Default 23/05/2013

 

Last known correspondence: Lowell wrote to me on the 20th June 2016 to advise that they would be prepared to accept a 40% discount and the debt could be settled for £122.87

 

• Mail Order Agency: £862.31 Default Date 26/08/2011

 

Last known correspondence: Lowell wrote to me on the 25th October 2016 to offer a 50% discount and advise that this could be settled for £431.15

 

• Mail Order Agency: £634.50 Default Date 26/08/2011

 

Last known correspondence: Lowell wrote to me on the 25th August 2016 to offer a 50% discount and advise that this could be settled for £317.25

 

• Mail Order Agency: £138.08 Default Date 19/07/2011

 

Last known correspondence: Lowell wrote to me on the 29th March 2016 to advise that they would be prepared to accept a 50% discount and the debt could be settled for £69.04

 

Credit Card Arrow Global- Santander:

 

• £299 Default Date 24/09/2011

 

Last known correspondence: Arrow Global 12/09/2016 to advise that capquest had taken over this account, prior to this I was contacted by Debt Managers (service) Ltd to advise that my account qualified for a

significant discount and I should contact them for F&F settlement offer

 

Natwest

 

• Current Account Natwest Bank Current Accounts: £1915 Default Date 31/10/2012

• Current Account Natwest Bank Current Accounts: £1250 Default Date 28/02/2013

 

Last known correspondence: Letter from 27/01/2014 from Regal Credit Consultants requesting payment of £3164.68. I have had no correspondence in relation to this debt since.

 

• Credit Card from Cabot Financial: £351.34 Default Date 14/03/2013

 

Natwest wrote to me on 31st May 2016 to advise they had sold debt to cabot financial. Cabot wrote to me on 13/09/2016 to advise that they could offer a discount on the account and would mark this as partially settled

[dx100uk]

they are all offering discount = somethings not right with the debts.

 

why do you want to pay them off?

 

wont remove the defaults

wont improve your credit rating.

 

go have a holiday with the money

or

burn it, as that's about the usefulness of paying a DCA does

you simply fund the harassment of others like you.

 

dx

[WarrenBuffet]

I wish there was a like button on CAG as dx's post would have a thousand likes.

[honeybee13]

I wish there was a like button on CAG as dx's post would have a thousand likes.

 

You can give rep points, WB.

 

HB

[moustachekorma]

they are all offering discount = somethings not right with the debts.

 

why do you want to pay them off?

 

wont remove the defaults

wont improve your credit rating.

 

go have a holiday with the money

or

burn it, as that's about the usefulness of paying a DCA does

you simply fund the harassment of others like you.

 

dx

 

I may have to submit a credit file for review by a professional board and have been saving over the past few years in order for these to be marked as satisfied. I wish them to be satisfied to highlight that my creditors have been paid, I know that it will not affect my credit score or perceived credit worthiness

[WarrenBuffet]

You can give rep points, WB.

 

HB

 

Ah ha, HB to the rescue as always!

I must stop using mobile app and start using full app again.

[dx100uk]

I may have to submit a credit file for review by a professional board and have been saving over the past few years in order for these to be marked as satisfied. I wish them to be satisfied to highlight that my creditors have been paid, I know that it will not affect my credit score or perceived credit worthiness

 

a worthy reason then.

one we don't often see.

 

the problem is unless you settled for the full value of each debt

they will only mark the debt partially satisfied.

 

how long have yo got to get this done

as this could take upwards of 2-3 months.

 

you should have come here months ago when you started saving knowing you were going to eventually hit this problem?

could of all been done and dusted by now and probably costing nothing like what it might now.

 

cant quite see the point in CCA requests and SARS ..pointless really

as neither will help you

even ifthe debts are unenforceable and full of penalty charges and PPI

which they undoubtedly ARE..[that's the discounts.!!}

 

they wont mark a debt settled unless you pay the full wack.

 

enough dribble from me

 

your thoughts.

[moustachekorma]

I made very stupid decisions as a young adult and unexpected circumstances meant that I did not have income that I thought I would have to pay this off.

 

I have been studying and so have not been able to work enough to pay these debts off and token payments just made everything seem so big.

 

I had this debt and then had issues with my student finance which meant things spiralled out of controlled

 

in particular with my Natwest account,

this led to me not being able to pay accomodation fees and long story short I recieved default ccj.

 

As a result of the ccj there is a presumption that I cannot manage my finances and I have to submit evidence to rebut this.

 

There is no guarantee that I can get this CCJ set aside so I was saving up money to pay creditors in the worst case scenario that I am not able to get the ccj set aside and have to show that my creditors are all paid.

 

If this worse case does happen then I have up until July but I would like to get this resolved ideally before that.

 

After having dug my head in the sand, stupidly for so long

I saw saving up the money as taking positive steps to resolve my finances.

 

It was only when I started reading more threads on CAG that I realised it is not as simple as you have a debt and then you pay it in its entirety.

 

I also just wanted the relief of being able to put to bed this very rubbish time of my life

irrespective of how painful it is.

 

So all my free income has gone into saving to pay all of this

[dx100uk]

it is my understanding

that if you got that CCJ removed

that defaults on your credit file will not matter.?

 

 

dx

[renegadeimp]

So you're willing to pay un enforceable debts for no real reason.

 

It's no wonder these companies laugh at you and others

[WarrenBuffet]

And they only pay the absolute max of 5p in the £1 for your debt too.

[moustachekorma]

it is my understanding

that if you got that CCJ removed

that defaults on your credit file will not matter.?

 

 

dx

 

Yes this is the case

[dx100uk]

then get that CCJ sorted

I've posted on that thread too

 

 

dx

[moustachekorma]

then get that CCJ sorted

I've posted on that thread too

 

 

dx

 

I wish to start paying these of and still apply to get the ccj removed- I realise this is the mose expensive option but i am having sleepless nights about this. Is it a case of simply paying by card?

[dx100uk]

IMHO that's not your priority and you might well be throwing money away.

once you get that CCJ sorted, which it looks like you can.

 

 

the other debts wont matter

 

 

then you can settle into the job and revisit the other debts later on.

 

 

there no rush to settle them.

as long as all the owners of the debts are aware of your correct address.

[renegadeimp]

You cant pay the CCJ off and have it removed after the initial 28 days. It will just be marked as satisfied. All your other debts are totally unenforceable and you should not pay them> CCA them all and youll likely find that none of the creditors have the correct paperwork for them.

 

The CCJ you could get set aside, but its costly and youd have to have a good reason to do so.

[dx100uk]

post 7

[moustachekorma]

I have just reread documents and I may only have till february (by which my CCJ may not of been removed)

i am going to have to grit and bear it

- i know i may be throwing money away but the impact this could have on me beginning my career is not really helping my anxiety.

 

I would rather pay the debts off and if CCJ gets aside then there is no problem but if it doesnt at least all the debts have had time to be marked as settled.

 

I know I have grounds for getting it side but the issue for my case is promptness

i.e. the delay of two years before making that application.

 

i know it is a judge lottery and nobody could predict either way

but at least i know if in the worst case scenario it doesnt go the way i hope then my credit file is sorted.

[dx100uk]

but you've no guarantee the debts will be marked settled

 

the CCJ wont take long to set aside but the longer you keep taking to 'jump' and get on with it

the more it will niggle you.

 

theres nowt to stop you settling the debts in the 10 days before your interview if push comes to shove and it doesn't workout

 

it could all be done in a couple of days by card and them sending letters or emails as proof of payment.

 

stop panicking.

[moustachekorma]

OK thanks for calming me. i have already paid some of these off as I started panicking.

 

Another member on here is helping me to draft a consent order that explains the misunderstanding potentially on monday, i have hear some people say that the n244 form is either 100 or 255 what dictates what the price

[dx100uk]

better to post on the CCJ thread with q's regarding that

 

 

can I suggest you contact your bank and reverse those payments?

 

 

dx

[moustachekorma]

Ok sure thanks for being patient with me

[moustachekorma]

The bank have advised that they cant reverse it but i would have to contact disputes