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Full & Final Settlement Offered to me - HELP!


angelic
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I have a debt with cahoot that was passed on to Buchanon Clark and Wells around 2 years ago. They ring me every now and then offering full and final settlements which I have never been in the position to accept.

They rang me yesterday offering a 50% discount if I settle in the next 24 hours. Obviously the deadline is a ploy to get me to rush out and get the money to pay it. I don't fall for their scams and haven't done for a long time now as they tend not to frighten me as I know my rights usually.

Anyways...... The total debt is £3,000 and they have therefore offered me a settlement figure of £1500. I know my dad would lend me this amount of money to pay the debt off. I pay £115 towards the debt monthly , therefore I would pay this same figure to him and the debt would have gone within half the time.

I am currently pursuing Cahoot for bank charges. It hasn't reached court yet and things have been quiet for the past 4 months.

If I clear this debt, would this have any bearing on my court case? They owe me £415 in total.

I'm not sure whether I should accept the F & F and not take them to court, or accept the F&F and then take them to court after it has been cleared. Or would that be being cheeky and greedy?

Has anyone else had this situation?

All help appreciated.

Joanne

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I had a similar problem with capital one, the balance was made up of mostly charges so i refused to pay and pursued them to remove the charges by following the claiming procedure, they offered me 50% at first then 75% but once i filed at court they offered full settlement.

Do you know how much off your balance is made up of charges? If not call and ask them and if its less than £1500 then you have a good deal but if its more i would pursue them to refund all the charges.

Good Luck..

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The charges are made up of £415.

Can they offer me a F&F and then refund me a further £415 in bank charges after the F&F has cleared the bank loan? I really don't want to be greedy (unlike the banks!) but if the F&F would have been a natural course of action anyway, then surely I can accept the F&F to clear the loan and then also pursue them for the additional £415 through the courts?

Quite confused at this added complication!

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Tell Cahoot and BCW that the amount you owe is in dispute due to charges and that you won't pay anything back until that has been sorted out. They will more than likely take this off your balance and then you should look at what you can afford to pay back, NOT what they are asking/demanding you pay.

 

I offered to pay BCW what to me seems like a respectable amount last week to be told that no amount except the full amount would be acceptable. Don't let them bully you.

Ex CAG helper ^_^

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HI there

 

If they are offering you £1500 and the charges amount to £415 then that is a good deal and I dont think you could realistically chase them for charges because they have let you off with more than the amount of the charges. It is a full and final settlement which means you have no recourse once you have paid the sum.

 

If you want to accept and can borrow from your dad it is up to you to decide what would be best for you. However, this is not going to get your credit rating increased because it is still registered as a default etc., etc.,

Hope this makes sense!!!!

 

Gemspan

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Tell Cahoot and BCW that the amount you owe is in dispute due to charges and that you won't pay anything back until that has been sorted out. They will more than likely take this off your balance and then you should look at what you can afford to pay back, NOT what they are asking/demanding you pay.

 

I offered to pay BCW what to me seems like a respectable amount last week to be told that no amount except the full amount would be acceptable. Don't let them bully you.

 

I think you should send BCW a CCA...Send it recorded with a £1 postal order...At least that will give you a bot of breathing space...I cant see why your claim is still going after 4 months! - Don't foget, you can also claim interest on those charges..

Just hate every DCA out there

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