Santander F&F Letter

[SaltnVinegar]

Hi All

A little while ago I had a letter from Wescot stating that Santander were prepared to offer a substantial discount on the outstanding balance of a debt with them and to call them for more details.

I did no such thing (call them that is) but instead wrote back asking for details of this offer.

I have had their response today so wanted peoples thoughts on it. I have put the sections that I have concerns on in italics.

Start of letter

Dear SnV

We refer to your recent communication requesting a settlement figure on the outstanding balance.

The minimum our client is prepared to accept as a partial settlement is £xxxx. This amount can be paid over x monthly installments of £xxx.

If you are unable to accept this offer please continue with your current arrangement of £xx per month until the full outstanding balance is cleared.

Should you have any further queries please do not hesitate to contact us. We look forward to hearing from you within the next 14 days.

Your faithfully

A Wescot Person

End of Letter

So its the 'partial settlement' part thats got me cautious. As I read this 'offer' there is nothing to prevent them from persuing the remaining balance through the use of legalese.

Whats everyones thoughts?

BTW they have come out of the blocks immediately with a substantial discount, this is over 50% not a measly 10%-20%.

Best

SnV

[garlok]

Re: Santander F&F Letter

Yes it is my view that you are ultra careful over the wording SnV.

It is essential in my view that you read the template here:-

>Templates - Making Offers

which contains the relavnt case law of Penny v Cole.

Anything which says partial settlement is suspect

regards
Garlok

[BBoo]

Re: Santander F&F Letter

Totally agree. If your CRF is not marked as anything other than fully settled, there's no point doing an F&F.

[garlok]

Re: Santander F&F Letter

sorry mate, I should have said its the third template you need to look at "Official F & F Offer"

Many have been caught out with this in the recent past and as the offer on the face of it is too good to be true, I would really err on the side of caution and believe that Wescot are up to one of their little ploys until proven otherwise.

Penny V Cole is the cruncher (the Pinnel case of 1602) and still quoted now to knock back debtors who thought they discharged their obligations. There is much more case law but much of it relates to the third party benefactor issue in particular Bracken v Billinghurst which in turn refers to Fletcher Moulton LLJ's rulings in the CoA on the Temple case.

However dealt with as per the site's templates and geting their agreement in writing as your terms (in the templates) makes it about as watertight as it gets.

regards
Garlok

[PriorityOne]

Re: Santander F&F Letter

Partial settlement leaves them an opportunity to flog the alleged balance off to someone else... what you need to see is a full and final settlement and a mark on your credit file to show that the debt is satisfied.

Anything less should make you question things.... do they have a valid CCA, for example? I would be inclined to write back thanking them for their letter but before you can respond, you need to their confirmation that they have in fact got a valid CCA in their possession under CPUTR.

What's the background of this debt?

[garlok]

Re: Santander F&F Letter

Unfortunately with respect Bboo it is unlikely that you will ever really get a "Fully settled" marker on a CRF. They are only required to report matters as they are. Legal advice is and always has been "marked as Satisfied" along with a document agreeing settlement within the the case law and terms as pointed out.

The non AAD route of third party benefaction relies on case law again as pointed to and you might still have to argue Commissioners of Inland Revenue v Fry into the bargain. Hence never try this route without professionals running it for you.

With the best will in the world the creditors/DCAs are wising up and are starting to use every little twist they can to wriggle out of these obligations mainly because , we, you, I and the members of sites like AAD are making the general public wiser in ever increasing numbers.

regards
Garlok