Full and Final..Thoughts, suggestions, success?

[IcanIwill]

Evening all,
__________________________________________________ __________________________________________________ _____________________
After 18 months of my debt going down slowly but surely without any problems with my 3 creditors:-

£6k Aktiv Kapital purchased from Halifax(very quickly i may add)

2k Halifax credit card haven't paid anything in 12 months (No valid CCA and its pre 1997)

£1.6k to Bryan Carter collecting on behalf of Argos

__________________________________________________ __________________________________________________ ______________________

So i edging towards looking at full and final settlements with both Aktiv and Bryan Carter, Before i go sending out the letter template of Full and Final, is their anything i should consider before hand? Has anyone had any success with the people named above?

Thanks in advance

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

Evening all,
__________________________________________________ __________________________________________________ _____________________
After 18 months of my debt going down slowly but surely without any problems with my 3 creditors:-

£6k Aktiv Kapital purchased from Halifax(very quickly i may add)

2k Halifax credit card haven't paid anything in 12 months (No valid CCA and its pre 1997)

£1.6k to Bryan Carter collecting on behalf of Argos
__________________________________________________ __________________________________________________ ______________________

So i edging towards looking at full and final settlements with both Aktiv and Bryan Carter, Before i go sending out the letter template of Full and Final, is their anything i should consider before hand? Has anyone had any success with the people named above?

It wouldn't hurt to send a CCA request to start with, and see what they come up with. If they don't have the necessary paperwork you'd be in a stronger position. :thumb:

Did you default on all of them just 18 months ago?
What's the larger Halifax debt for? A current account O/D? If so, the CCA request wouldn't apply.
Are Bryan Carter collecting directly from Argos? Just sounds a little unusual to me, being solicitors who normally act for Lowell.

With regards to the F&Fs themselves, I posted this earlier:

I would suggest having a look at this thread: http://www.legalbeagles.info/forums/...ght=full+final

In particular, the subject of third party cheques, to ensure they can't chase you for the balance or sell it on to someone else who will

I had that experience in the past with a small debt I settled for a reduced amount with AK, only to receive endless letters asking for the balance, :mad2: :mad2: :mad2: so I'd say it pays to go a bit further to make sure that doesn't happen to you. :thumb:

With regards to the CRAs, they will mark it as partly satisfied as that's what it will be, however, if this is an old(ish) debt, the default won't be there much longer, it'll drop off 6 years after it was recorded. :grin:

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

2k Halifax credit card haven't paid anything in 12 months (No valid CCA and its pre 1997)

I wouldn't be offering anything on these ones!

[IcanIwill]

Re: Full and Final..Thoughts, suggestions, success?

Hey thanks for your input, I am not going to even entertain the halifax credit card, strange they havent sold it yet, i have had about 3 different DCA's try and get money off me,

My loan was for a unsercured loan from 2010, They have my signed agreement and i have a payment plan with them atm, it is for 6k its just strange halifax sold it so quick after it defaulting yet with my credit card with them that defaulted month before thet still havent sold it


My argos card one beinf managed by Bryan i pay an agreed amout each month but im sure they also havent gpt a signed agreement so i think ill cca them and get them to admit no valid cca and then turn to full and final i think

I really do get confused with the whole no valid cca request ive had success in the past where a debt has been wiped as no signed cca yet ive read it doesent matter and can still be valid without a signed cca

Thanks

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

Hey thanks for your input, I am not going to even entertain the halifax credit card, strange they havent sold it yet, i have had about 3 different DCA's try and get money off me,

My loan was for a unsercured loan from 2010, They have my signed agreement and i have a payment plan with them atm, it is for 6k its just strange halifax sold it so quick after it defaulting yet with my credit card with them that defaulted month before thet still havent sold it

The sale of debts seems quite random, it never follows a pattern. MBNA sold virtually all defaulted accounts to Arrow in 2012 or thereabouts, except mine, defaulted Feb 2010, MBNA admitted no CCA available back then as it's an ancient 90s A&L credit card. Never had a NoA and not heard a peep since 2011!

All bad Eggs seem to have been sold to Marlin, except mine, also defaulted in 2010. Never heard from anyone since 2010. :tape2: Not had a NoA for my RBS card defaulted Mar 2010 either. :tape: On the other hand, an old Citi card defaulted Dec 2010 was sold to 1st Crud in Feb 2012. You just don't know! :noidea:

[wales01man]

Re: Full and Final..Thoughts, suggestions, success?

I think Creditors and DCAs do some research if possible into someones ability to pay before taking any action in many cases .

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

Hey thanks for your input, I am not going to even entertain the halifax credit card, strange they havent sold it yet, i have had about 3 different DCA's try and get money off me,

My loan was for a unsercured loan from 2010, They have my signed agreement and i have a payment plan with them atm, it is for 6k its just strange halifax sold it so quick after it defaulting yet with my credit card with them that defaulted month before thet still havent sold it

Being from 2010, arguing about enforceability wouldn't take you anywhere.

How much are you paying every month? If creditors see it will take ages to get the debt cleared, they *may* be more agreeable to a lower F&F. Having said that, it's usually easier to negotiate a low F&F when it's been sold, since the debt purchaser would only have paid around 10% of the alleged outstanding amount.

My argos card one beinf managed by Bryan i pay an agreed amout each month but im sure they also havent gpt a signed agreement so i think ill cca them and get them to admit no valid cca and then turn to full and final i think

That sounds like a plan! :thumb:

I really do get confused with the whole no valid cca request ive had success in the past where a debt has been wiped as no signed cca yet ive read it doesent matter and can still be valid without a signed cca

In a nutshell, the creditor should be able to show you signed a properly executed agreement containing all the prescribed terms, at the time you took out the credit product (card, loan, etc.). If not, the account could be unenforceable, meaning they couldn't get judgment against you in court. :juge:

However, the bit of legislation that prevented a court from enforcing a debt without a properly executed agreement was repealed in April 2007, so this only really applies to accounts that were opened before that time.

The debt would still be 'valid' even if it was unenforceable in court. When challenged, creditors react in different ways. Sometimes they may admit defeat as you mention above :whoo: others they will keep arguing the debt is still due, etc. :blah: :blah:

[IcanIwill]

Re: Full and Final..Thoughts, suggestions, success?

Hey both thank you for what sound like great insight and support for me! So ive got the stamps(1st class aswell just need to print the letters off and bingo lets the rollarcoaster begin hopefully it will be a nice short but fast coaster,

I pay £40 per month on my loan im gunna do the official letter template and at tbe end add some of my own personal things like the reason i want to settle and also put it on simple terms the amount im proposing would take them xx years if i carry on paying £40 per month

Sorry i cannot answer you like you have with the highlighted bits really cool
that must learn how to do that

Thanks

IcanIwill

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

I pay £40 per month on my loan im gunna do the official letter template and at tbe end add some of my own personal things like the reason i want to settle and also put it on simple terms the amount im proposing would take them xx years if i carry on paying £40 per month

You'd normally make it sound like a relative or 'kind soul' is willing to lend you the money for the F&F but their offer will only be available for a limited time, such as:

Dear Sirs
Ref: xxxxxxxx
I write regarding the outstanding balance on the above account and wish to make an offer to resolve that will suitably please both parties.

I can confirm that I am unable to offer to pay the money which I owe in full, however I am able to raise £XXX and wish to offer this as an ex-gratia payment in full and final settlement of the account. These funds will only be available to me for a period of xxx days / until xx/xx/2014. 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" in full.

Payment can be made within xx 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,

[IcanIwill]

Re: Full and Final..Thoughts, suggestions, success?

Thanks Flaming Parrot,

Sorry to be a pain but could you post up a CCA request that you have used in the past, a lot of the templates differ slightly

Thanks

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

Thanks Flaming Parrot,

Sorry to be a pain but could you post up a CCA request that you have used in the past, a lot of the templates differ slightly

Thanks

They do indeed! Sometimes it pays to use a 'stronger' version, however, for this purpose, and given that you are making payments, a fairly basic version should suffice. :thumb:

The letter should be sent recorded delivery with a PO for £1. They have 14 days to respond (the extra 2 are for service). :ranger:

Dear Sirs,

Account number: xxxxxx

I am writing to request a copy of the credit agreement for the above account under sections 77−79 of the Consumer Credit Act 1974, as well as a copy of the terms and conditions that were applicable to the account at the time I took out my agreement, as I no longer have a copy and would like to check some of the details. I would also like to request a statement of account.

I enclose a payment of £1 which represents the fee payable under the Consumer Credit Act 1974.

I look forward to a response within 12 working days.

Yours faithfully

[IcanIwill]

Re: Full and Final..Thoughts, suggestions, success?

Okay happy days fired off the cca request to my store card so will await there response hopefully comes back no cca and then ill work on full and final

Sent off a full and final settlement to Aktiv

My last thought ive been doing a bit of research and after finding the letter from
halifax from June 2013 confirming no signed cca i was thinking of sending the letter i found what do you recon?
Dear Sirs


Account number


I write with regards to the above account with your organisation.


I respectfully request that you provide me by return a copy of the credit agreement which bears my signature. I require this as i have reason to believe that there may be discrepancies within the agreement which may leave it improperly executed.Additionally i require the underwriting sheet or other document showing any commissions paid to you by the broker or by you to the broker


(If you have any other reasons why you need the agreement such as misselling of PPI Add it here)


obviously if the agreement is improperly executed i would be entitled to ask the court to consider the agreement and make a declaration of the rights of parties to the agreement.


I must stress this request is NOT made pursuant to section 78 consumer credit Act 1974 but is made pursuant to the Civil Procedure Rules ( Pre action protocols and Part 31.16) and therefore unsigned copy will not suffice, only a copy of the original contract in its unaltered form will suffice in these circumstances


Please confirm if you still hold a copy of my signed agreement and that you will provide me with this document.


I do not view this as an unreasonable request given that by supplying the document which i have asked for it will allow me to assess if my case has merit and will help to resolve matters possibly without the need to involve the court and will undoubtedly save costs on both sides


I look forward to your reply and wouyld ask for a response by 4pm on XXXX Date ( Give 21 days to respond)




Regards






xxxxxxxxxxx

I think by doing this may give me a clear indication where halifax will go with this? it may prompt a sale of the debt or even may consider a lower Full and Final. I wont send this letter until youve given your advice always good to get another perspective

Thanks
IcanIwill

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

Okay happy days fired off the cca request to my store card so will await there response hopefully comes back no cca and then ill work on full and final

Sent off a full and final settlement to Aktiv l

Be very careful with them and post up here before you make any payments. It was THEM who, years ago, offered me a 'generous discount' on a small debt which I accepted, only to be chased for the balance for years to come. :rant: :rant: :mad2: :mad2:

[FlamingParrot]

Re: Full and Final..Thoughts, suggestions, success?

My last thought ive been doing a bit of research and after finding the letter from
halifax from June 2013 confirming no signed cca i was thinking of sending the letter i found what do you recon?

If you already have a letter confirming they haven't got a CCA, I wouldn't be sending anything else. I also have letters from MBNA saying they can't find my CCA and I wouldn't dream of asking them again! :scared:

Before we go any further, is there any chance you could post up that letter from June 2013 and their response to your CCA request (if any), i.e. did they send you SOMETHING? Or just the letter? :typing:

Don't forget to remove all personal details before you post. :thumb:

[IcanIwill]

Re: Full and Final..Thoughts, suggestions, success?

Yeah will do all offers i get i will post on this site first to ensure it is water tight,

Any thoughts on sending that latter to halifax?