Bryan Carter - Letter of Claim

[clearway]

Re: Bryan Carter - Letter of Claim

28 days should be reasonable.

Debt purchasers buy debts for around 10% of their book value or even less, then try to get the full amount out of debtors, that's how they make their profits. That also means you can make a low offer to start with. They are in this business and will be used to it so no need to worry about causing offence. It is a negotiation process where you would like to pay £0.00 and they would like the full amount, the settlement has to fall somewhere in between. I'd say you can try 25%-30%. A lot of debts are settled at those levels (I had one myself) and, when you consider the cost of litigation and the time it takes to go through the process against the amount outstanding, it would make as much sense for them to settle as it would for you. You have also been in an IVA, where no debts get settled in full, you'd have paid pro-rata for a set number of years and the rest gets written off.

You should make sure you have written agreement before any payment is made and ideally you should pay via a third party cheque or transfer from a third party account, this is intended to avoid them chasing you for the balance at a later date or selling it on to another debt purchaser who will chase you for it. That also happened to me, albeit with a small amount.

Thank you, I had intended to pay by postal order that way no personal details are given but I should still be able to obtain proof of payment I think. Is that not a good way to do it?

I posted the letter and have had a reply from BC (attached) requesting £338.26 but i'm not sure that I can raise that amount and I'm hoping someone on here can help me with a few questions.

Is it possible to reply with counter offer or are their offers usually final? If I can counter offer is there a format/letter I should be using?

They say in the letter a financial statement form is enclosed but there was only the letter in the envelope.

I don't understand the paragraph regarding my credit file, initially in the letter they say they will accept full and final settlement but the paragraph about my credit file seems to state the balance will stay open for six years?

Also they state the offer remains open for 28 days but the letter is dated 23rd June and later in the letter they are asking for a reply by the 6th July, less than 14 days from the date they replied to me. The original letter they sent me was dated 11th June so even 28 days from that letter would go beyond the 6th July.

Thanks in advance

[nemesis45]

Re: Bryan Carter - Letter of Claim

Thank you, I had intended to pay by postal order that way no personal details are given but I should still be able to obtain proof of payment I think. Is that not a good way to do it?

I posted the letter and have had a reply from BC (attached) requesting £338.26 but i'm not sure that I can raise that amount and I'm hoping someone on here can help me with a few questions.

Is it possible to reply with counter offer or are their offers usually final? If I can counter offer is there a format/letter I should be using?

They say in the letter a financial statement form is enclosed but there was only the letter in the envelope.

I don't understand the paragraph regarding my credit file, initially in the letter they say they will accept full and final settlement but the paragraph about my credit file seems to state the balance will stay open for six years?

Also they state the offer remains open for 28 days but the letter is dated 23rd June and later in the letter they are asking for a reply by the 6th July, less than 14 days from the date they replied to me. The original letter they sent me was dated 11th June so even 28 days from that letter would go beyond the 6th July.

Thanks in advance

Hi, Lowell do seem to have a problem with time scales I'm afraid!!

The credit file statement means that if you agree a settlement of less than the full amount, your file will be marked " partially settled", and the entry will stay on file until the 6th anniversary of the default date when it will be removed automatically.

To can certainly try to make another slightly higher offer, but on the understanding that the offer is conditional on the remaining balance not being sold on or assigned to any 3rd party for collection.

nem

[clearway]

Re: Bryan Carter - Letter of Claim

Hi, Lowell do seem to have a problem with time scales I'm afraid!!

The credit file statement means that if you agree a settlement of less than the full amount, your file will be marked " partially settled", and the entry will stay on file until the 6th anniversary of the default date when it will be removed automatically.

To can certainly try to make another slightly higher offer, but on the understanding that the offer is conditional on the remaining balance not being sold on or assigned to any 3rd party for collection.

nem

Thanks for your quick reply. I know I should act asap but would you think they can do anything after the 6th or do I still have 28 days to try and come to an agreement with them?

partially settled may be my only option as long as there will be nobody chasing for the remainder in the future.

For payment is a postal order a suitable form of payment or is there another way that is usually recommended?

Thanks

[nemesis45]

Re: Bryan Carter - Letter of Claim

Yes PO is fine. So far if I understand it you have a Carter " letter of claim" telling
you the world will end if you don't pay up without an argument.

The phrasing for an offer that I use is as follow:

In reference to the alleged debt for £xxx.xx allegedly arising from an account with xxxxxxxxxxxxx,.. I make the following offer in full and final payment as a gesture of good will and without admission of any liability on the following conditions.

1. Any remaining balance is not to be sold or assigned for collection to any 3rd party at any time in the future.
2. All credit file entries will be updated to read " partially" settled.
3. If this offer is accepted payment will be made within 7 days of my receiving your written acceptance of the offer
and its conditions.

nem

[clearway]

Re: Bryan Carter - Letter of Claim

I have amended the original letter explaining that no financial statement was enclosed and due to the short timescale given the amount they have requested is likely to be unachievable. Although I have increased my offer to them in the hope that they would rather have a single payment than go through monthly payments and affordability etc.

Bryan Carter Solicitors
11 De Havilland Drive
Weybridge
Surrey, KT13 0YP


25^th June 2015


Dear Sirs


Ref: LOW/16566953
Account No: xxxxxxxxxxxxxxxx


Thank you for your letter dated 23^rd June 2015 and the revised offer from your client of £338.26 for full and final settlement. Unfortunately there was no financial statement form enclosed with your letter to complete.

The amount requested is likely to be unachievable in the short period of time you have given, however I could raise £225.00 to be taken as an ex-gratia payment in full and final settlement of the account. As before these funds will only be available to me for a period of 28 days. The offer is made on the understanding that, if accepted, neither you nor any other company will take any further action to pursue or enforce this debt in any way whatsoever and that I will be released from any liability with no reference or future ability to quote or use Penny v Cole [Pinnel 1602] in trying to recoup any written off balance. I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied".

Payment can be made within 14 days of receiving your written agreement of this offer. Please write back and confirm if you're interested in my offer then I'll come back to you.

I look forward to your response.


Yours faithfully,



xxxxxxxxxx

[clearway]

Re: Bryan Carter - Letter of Claim

Took the letter to the post office to be told last collection was 4pm and nothing until Monday so I drove to the main office to be told they can't do recorded delivery. Looks like I'll have to try and get back to the post office first thing Monday so I can get the letter posted recorded.

I'm now hoping I'm not too late

[FlamingParrot]

Re: Bryan Carter - Letter of Claim

Took the letter to the post office to be told last collection was 4pm and nothing until Monday so I drove to the main office to be told they can't do recorded delivery. Looks like I'll have to try and get back to the post office first thing Monday so I can get the letter posted recorded.

I'm now hoping I'm not too late

What was the big rush? Reading back, you were merely offering a F&F on the account, not meeting deadlines set by a court.

[clearway]

Re: Bryan Carter - Letter of Claim

If I read their last letter correctly I only have until the 6th July or they will want the full balance?

I may change my letter before posting, I was trying to get it in the post today so they had time to respond to me but since I now can't do anything until Monday I will try to make sure I'm 100% happy with it.

[FlamingParrot]

Re: Bryan Carter - Letter of Claim

If I read their last letter correctly I only have until the 6th July or they will want the full balance?

I may change my letter before posting, I was trying to get it in the post today so they had time to respond to me but since I now can't do anything until Monday I will try to make sure I'm 100% happy with it.

That's a very wise idea, it's just the 26th of June...

[clearway]

Re: Bryan Carter - Letter of Claim

In honesty I'm not sure how it works. I tried to get a letter out today to give time for BC to reply and still have time to get another letter to them by the 6th if need be. I don't know if they will give more time, ask for the full amount or just start court proceedings if I don't accept their offer?

Is there anything you would recommend I change I the letter?

[FlamingParrot]

Re: Bryan Carter - Letter of Claim

In honesty I'm not sure how it works. I tried to get a letter out today to give time for BC to reply and still have time to get another letter to them by the 6th if need be. I don't know if they will give more time, ask for the full amount or just start court proceedings if I don't accept their offer?

The idea would be for them to receive your offer by the 6th so they can review it within 28 days as stated on your letter, not for the whole thing to be concluded by the 6th. You could have sent the letter today, so what? Mr Carter could have been out enjoying the sunshine, he may be busy on the MCOL issuing claims, what if he doesn't deal with this matter and respond to you by the 6th? That would be completely out of your control, you can't have an agreement like that.

You send your offer in before the 6th so you keep to your side of the bargain, he should then respond to you within 28 days (of receipt of the letter) as the letter says, confirming acceptance of the offer.

Given that you are offering over two thirds of the balance, it would be rather foolish of them to reject your offer and issue court proceedings instead which would take months to go through the process, just so they can get a judgment where you could apply to the court to pay £5 a month if that's all you can afford. A bird in the hand...

Is there anything you would recommend I change I the letter?

That looks OK to me, you seem to have got the right one. :thumb:

[nemesis45]

Re: Bryan Carter - Letter of Claim

I have amended the original letter explaining that no financial statement was enclosed and due to the short timescale given the amount they have requested is likely to be unachievable. Although I have increased my offer to them in the hope that they would rather have a single payment than go through monthly payments and affordability etc.

Bryan Carter Solicitors
11 De Havilland Drive
Weybridge
Surrey, KT13 0YP


25^th June 2015


Dear Sirs


Ref: LOW/16566953
Account No: xxxxxxxxxxxxxxxx


Thank you for your letter dated 23^rd June 2015 and the revised offer from your client of £338.26 for full and final settlement. Unfortunately there was no financial statement form enclosed with your letter to complete.

The amount requested is likely to be unachievable in the short period of time you have given, however I could raise £225.00 to be taken as an ex-gratia payment in full and final settlement of the account. As before these funds will only be available to me for a period of 28 days. The offer is made on the understanding that, if accepted, neither you nor any other company will take any further action to pursue or enforce this debt in any way whatsoever and that I will be released from any liability with no reference or future ability to quote or use Penny v Cole [Pinnel 1602] in trying to recoup any written off balance. I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied".

Payment can be made within 14 days of receiving your written agreement of this offer. Please write back and confirm if you're interested in my offer then I'll come back to you.

I look forward to your response.


Yours faithfully,



xxxxxxxxxx

The letter if no already sent would benefit from a couple of small changes:

" This offer is made as a gesture of good will and without admission of any liability."

and the " Credit files to be marked satisfied" Unfortunate changes in the Information
Commissioners Office guidance it now says that if a settlement is less that the full amount
outstanding credit files are to be marked as " Partially Satisfied" to show the true conduct of the account.

nem

- - - Updated - - -

I have amended the original letter explaining that no financial statement was enclosed and due to the short timescale given the amount they have requested is likely to be unachievable. Although I have increased my offer to them in the hope that they would rather have a single payment than go through monthly payments and affordability etc.

Bryan Carter Solicitors
11 De Havilland Drive
Weybridge
Surrey, KT13 0YP


25^th June 2015


Dear Sirs


Ref: LOW/16566953
Account No: xxxxxxxxxxxxxxxx


Thank you for your letter dated 23^rd June 2015 and the revised offer from your client of £338.26 for full and final settlement. Unfortunately there was no financial statement form enclosed with your letter to complete.

The amount requested is likely to be unachievable in the short period of time you have given, however I could raise £225.00 to be taken as an ex-gratia payment in full and final settlement of the account. As before these funds will only be available to me for a period of 28 days. The offer is made on the understanding that, if accepted, neither you nor any other company will take any further action to pursue or enforce this debt in any way whatsoever and that I will be released from any liability with no reference or future ability to quote or use Penny v Cole [Pinnel 1602] in trying to recoup any written off balance. I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied".

Payment can be made within 14 days of receiving your written agreement of this offer. Please write back and confirm if you're interested in my offer then I'll come back to you.

I look forward to your response.


Yours faithfully,



xxxxxxxxxx

The letter if no already sent would benefit from a couple of small changes:

" This offer is made as a gesture of good will and without admission of any liability."

and the " Credit files to be marked satisfied" Unfortunate changes in the Information
Commissioners Office guidance it now says that if a settlement is less that the full amount
outstanding credit files are to be marked as " Partially Satisfied" to show the true conduct of the account.

nem

[clearway]

Re: Bryan Carter - Letter of Claim

Thanks for the replies. I have made a couple of changes to the letter, mainly to include the gesture of goodwill statement and posted it first class recorded today.

Now to wait and see what comes back.

[nemesis45]

Re: Bryan Carter - Letter of Claim

Thanks for the replies. I have made a couple of changes to the letter, mainly to include the gesture of goodwill statement and posted it first class recorded today.

Now to wait and see what comes back.

let's hope they are quick and positive.

nem

[clearway]

Re: Bryan Carter - Letter of Claim

Ok so I have now sent the same letter twice this week. The first one went on the 29th but because I didn't get confirmation of delivery I sent another yesterday the 2nd July.

Both letters were sent first class recorded but both are showing item is progressing through royal mails network when I check tracking. I'm concerned that without confirmation of delivery I am unable to prove they got there.

Should I call them on Monday to confirm receipt of the letter(s) or should I send another in the hope that it will arrive a day late?