Full & Final

[FCC]

Re: Full & Final

Abbreviated Quote: The above numbered account has been passed to Rockwell. The decision to allocate your account to Rockwell has been made to to enhance administration and ensure that regular monthly payments are being maintained. Agency or Equitable Assignment?

[righty]

Re: Full & Final

Nonsense. Makes no difference whatsoever.

You are making the classic mistake of confusing what is recorded on your credit file with the issue of future liability.

What is recorded on one has no bearing on the other.
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I read it as the debt is still being handled by a DCA on behalf of the original creditor.

After such a period of time that does seem a little odd?

However, I do recall M&S hanging on to the account of a few people I've dealt with waaaaaaaaaaaaaaay longer than you would think was normal? Before selling them on that is.

Would be useful if FCC could clarify.

We'll have to agree to disagree I should mention however that after recent lengthy discussions with a barrister on the very subject of full & final & who specialises in such matters as contract law he is of the opinion (as are his colleagues) that full & final means just that & includes the removal of adverse data. He like I is also of the opinion that unless clearly stated that if a debtor (not creditor) offers a short settlement the creditor could return demanding further payments

[LuggerBugs]

Re: Full & Final

Well, as you mention "allocated" rather than "assigned", it would not appear that Rockwell own the debt, and are merely collecting on behalf of M&S.

Unless of course, you have been provided with a Notice of assignment.

But if Rockwell ARE claiming ownership, and you have NOT been served with a NoA, then I would tend to write back and tell Rockwell that you feel you have paid enough in respect of this debt until such time as they DO provide a NoA.

Even then, I would say that Rockewll, if they have purchased the debt, have had quite enough from you. I understand your determination to pay what you owe, but as far as I'm concerned, your moral responsibility ends at the point of sale of the debt, since the new owner will have paid a pittance, yet wish to collect the whole amount. Plus, it would appear, interest to which they are not entitled.

[FCC]

Re: Full & Final

There was no NoA or a Default issued. I believe that Rockwell are just acting as collectors in this matter and, as they have indicated, they have referred back to M & S with my offer. I am reluctant to see conspiracies in their reactions. I too am somewhat suspicious of their ambiguous statements and will return to my monthly repayment schedule. If they get aggressive after that,well..................................thanks people for your help and good advice

[LuggerBugs]

Re: Full & Final

It is after all your choice. And in the light of the fact that they are merely reclaiming the capital without continuing to apply interest, then morally, you are doing the right thing.

Coupled with the fact that both parties seem to be treating you corteously and with respect, it's difficult to find fault with your course of action.

If only all debt collectors and creditors were so minded, I suspect that most complaints to be found in the various forums would never happen at all. A lesson for the bulk of the industry to learn here, methinks.

[FCC]

Re: Full & Final

Thanks for your comments, yes it is a shame that the majority of DCA's seem to be run by those poor unfortunates who were bullied at school and now see a way of being " hard " and getting their own back and the lies they tell!! I am currently in an all out war with CrapOne and Link and these two are so stupidly arrogant and totally inefficient it beggars belief. I know now where all those incompetents that I sacked have landed. Mind you, this gives me an opportunity to get the frustration and let the anger flow. On another note, in going through all my paperwork in regard to the above I discover, and remember, that there were two accounts. The first was the credit card which was paid off with the PPI and the one that I am dealing with was actually a Personal Reserve, you know they send you a book of cheques and you complete them as and when. Are there different rules for cards and loans which the cheques would be??.

[TomThumb]

Re: Full & Final

Thanks for your comments, yes it is a shame that the majority of DCA's seem to be run by those poor unfortunates who were bullied at school and now see a way of being " hard " and getting their own back and the lies they tell!! I am currently in an all out war with CrapOne and Link and these two are so stupidly arrogant and totally inefficient it beggars belief. I know now where all those incompetents that I sacked have landed. Mind you, this gives me an opportunity to get the frustration and let the anger flow. On another note, in going through all my paperwork in regard to the above I discover, and remember, that there were two accounts. The first was the credit card which was paid off with the PPI and the one that I am dealing with was actually a Personal Reserve, you know they send you a book of cheques and you complete them as and when. Are there different rules for cards and loans which the cheques would be??.

I long since shredded mine but if I remember correctly the cheques normally came with a page and a half of terms and conditions on how they work and the interest applicable etc etc.

S.

[FCC]

Re: Full & Final

Have withdrawn the offer roll on 2028

[Panavia]

Re: Full & Final

Hello All
New boy here
I had dealings with Rockwell before and I found it useful to request a true copy of the original Credit agreement. They could`nt find it and have never pursued the alleged debt.
I also used the same tack with a family member and he received a letter stating we cannot find the original agreement and we know we cant pursue the issue but could you please pay it anyway cos we think you should.
Gotta give 10 out of 10 for effort.
Hope that helps :thumb:

[Brian]

Re: Full & Final

They don't appear willing to accept it as even being Final. In which case, I can't see any benefit in paying them a bean.

Perheaps when their client realises that, they will change their tune.

Unless of course, their client presses for chasing this through the courts. Would they have a chance of winning if they did?

I agree completely with LUGGERBUGS on this... going through a similar situation with Nationwide. Barstewards will NOT mark the F&F settlement with the CRA's that the matter is closed (balance = 0), reading the letter from CCS parasites it states:
"The account will be marked as satisfied, but they are unable to change the credit file to show a zero balance, it will show as partially satisfied"...what the hells all that about...? (me thinks a smack of vindictiveness about it all)

[TomThumb]

Re: Full & Final

I agree completely with LUGGERBUGS on this... going through a similar situation with Nationwide. Barstewards will NOT mark the F&F settlement with the CRA's that the matter is closed (balance = 0), reading the letter from CCS parasites it states:
"The account will be marked as satisfied, but they are unable to change the credit file to show a zero balance, it will show as partially satisfied"...what the hells all that about...? (me thinks a smack of vindictiveness about it all)

Hmm might want to remind them of the ICO guidelines for registering defaults and settlements

50 Where there is a default but a lender has formally accepted in full and final settlement a smaller amount than was owed under the terms of the original agreement, then it would be unfair to process personal data to record an outstanding balance on a default when the matter had been formally and finally concluded.

S.