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Just been doing a bit of a sort out and came across some papers regarding my F&F experience with Moorcroft. Thought I'd post it here for nostalgia but I wouldn't advise anyone copy it as it's not the proper way to deal with matters and basically I didn't give a rats arse at the time so gave it a shot just for the fun factor.
Having undergone many hours research into the law surrounding F&Fs I felt that I understood the procedure and risks to give it a whirl. In order to achieve my goal I had to wait for the opportunity to arise to establish "accord & satisfaction". Bingo, a Natwest CC that had been passed to Moorcroft presented itself with the ideal opportunity.
This debt was for just under £900 and Moorcroft presented me with a letter confirming that they had their clients authority to offer a HUGE discount. Ok, they are prepared to accept a much lower offer in settlement so I will sound them out with my F&F letter and enclosing the settlement cheque of £5 (well they did say they had the authority of their client to offer a HUGE discount). Now this is where I made a bit of a mistake but luckily it didn't come back to bite me. Although it is crucial that any F&F settlement cheque comes from a third party benefactor, I would go one step further and have the letter and accompanying terms & conditions also sent from the third party so that the debtor has no involvement with it at all. Also, and what I learnt after, is not to write anything on the back of the cheque (such as account / ref numbers) that can identify the debtors account. Leave that information buried within the T&C's of the accompanying F&F letter and that way, if the cheque is cashed and matched to the debtors account, the bank or dca can't claim to have simply detached the cheque from the letter without first having read the T&C's that the cheque was tendered by in order to match the cheque to the debtors account.
Like I say I did it as a bit of fun so wouldn't advise anyone doing the same without fully understanding the risks involved. I've attached some of the letter ping-pong which got a bit silly but the upshot is I haven't heard any more from this since 2011. They probably put me down as some kind of crank but that's fine by me.
Having undergone many hours research into the law surrounding F&Fs I felt that I understood the procedure and risks to give it a whirl. In order to achieve my goal I had to wait for the opportunity to arise to establish "accord & satisfaction". Bingo, a Natwest CC that had been passed to Moorcroft presented itself with the ideal opportunity.
This debt was for just under £900 and Moorcroft presented me with a letter confirming that they had their clients authority to offer a HUGE discount. Ok, they are prepared to accept a much lower offer in settlement so I will sound them out with my F&F letter and enclosing the settlement cheque of £5 (well they did say they had the authority of their client to offer a HUGE discount). Now this is where I made a bit of a mistake but luckily it didn't come back to bite me. Although it is crucial that any F&F settlement cheque comes from a third party benefactor, I would go one step further and have the letter and accompanying terms & conditions also sent from the third party so that the debtor has no involvement with it at all. Also, and what I learnt after, is not to write anything on the back of the cheque (such as account / ref numbers) that can identify the debtors account. Leave that information buried within the T&C's of the accompanying F&F letter and that way, if the cheque is cashed and matched to the debtors account, the bank or dca can't claim to have simply detached the cheque from the letter without first having read the T&C's that the cheque was tendered by in order to match the cheque to the debtors account.
Like I say I did it as a bit of fun so wouldn't advise anyone doing the same without fully understanding the risks involved. I've attached some of the letter ping-pong which got a bit silly but the upshot is I haven't heard any more from this since 2011. They probably put me down as some kind of crank but that's fine by me.
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