onesteptoofar UE Diary

[onesteptoofar]

Re: Full and Final Settlement Letters

Lloyds Account
Commenced pre-1998
Outstanding balance -2800
Token 1 pound payments made since end 2009
ACCOUNT HAS NOT YET DEFAULTED
Lloyds / SCM Solicitors still own the account

Current Status - Aiming to default asap. Made token 1 pound payments in Sept 2010 but these will be the last. Offered a f+f for 1000 in Sept, awaiting reply.

Outstanding balance - 2800
No payments made since Sept 2010
DCA - SCM
Offer of 1000 made in Sept 2010 was refused.


Have not checked credit file for default status as i have no free credit checks left, aiming to default asap.

Attempted letter (unless negotiating to pool a f+f for Lloyds debts might work better?):

WITHOUT PREJUDICE

Dear Sir/Madam,

Re: Account No. xxxxxxxxxxx
Ref No: xxxxxxxxxxx

I write with reference to the money which you are claiming on the above account.

I am disappointed that you were unable to accept my proposed offer as a full and final settlement, unfortunately we are unable to raise an increased offer.

As I have stated in previous correspondence, since making that above agreement with xxxx name of original creditor xxxx my circumstances have changed.

I cannot now afford to agreed monthly payments because I lost my job on xxxx date xxxx and have been out of employment since this date. Despite my determination and expectation to secure employment since this time I remain unemployed.

I have contacted the CCCS again in order to sort out my finances due to the change in my circumstances and they have advised that as I have no significant assets it would be in my interest to start bankruptcy proceedings with immediate effect. Nevertheless as a responsible debtor, I wish to find a way to amicably settle all outstanding debts.

As you are fully aware the outstanding balance is made up primarily of charges. However, a default to you and no payment will not achieve much and so I therefore write to try and resolve matters amicably, that will suit both of us long term.

Via a third party, I can raise £xxxx and I want to offer this as an ex-gratia payment in full and final settlement of the account. This will take into account and absorb, a lot of the charges that have been added to the account throughout time.

This offer is made on the clear understanding that neither you nor any associate Company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability. This is a time sensitive offer.

I also request that 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 28 days of receiving your written agreement of this offer and method of payment.

I look forward to receiving your reply.

Yours faithfully

xxxx Digitally signed xxxx

[onesteptoofar]

Re: Full and Final Settlement Letters

Hi Niddy,

New site looks sweet. Might be worth moving this thread?

I'm going to update each of my debts status's this evening and attempt a letter to try and negotiate on my currently stalled negotiations. (3 Lloyds based (would have been good to try and pool a f+f together as they're are all still with different dca's), 1 Nationwide. I am ignoring the Cahoot until its statute barred. ;-y

If you get chance to read my letters before i send that'd be fantastic ;K7

[onesteptoofar]

Re: Full and Final Settlement Letters

No worries mate. You are doing a fantastic job for all of us.

Good things come to those who wait

[Never-In-Doubt]

Re: Full and Final Settlement Letters

sorry mate I totally forgot - been hectic lately and I had to start a new legal section as a lot of lenders are issuing court papers right now. I'll sort it, promise.... please pm me so I remember LOL.....

[onesteptoofar]

Re: Full and Final Settlement Letters

Hi Niddy,

Hope all is well. The new forum image looks good.

Any chance you might get chance to take a look at a f+f template sometime this week?

[Never-In-Doubt]

Re: Full and Final Settlement Letters

Ok, leave it with me and on Saturday i'll sort you a template to send off for F&F's.

As above matey ^^^^

[onesteptoofar]

Re: Full and Final Settlement Letters

Update: Nationwide Loan
DCA: Wescot
Previous Status: Wescot produced a CCA. I offered 1820 as a f+f, rejected. Wescot counter offered 5630. (Sept 2010).
Outstanding balance: £7500

Update: Letter received from "Nelson Guest & Partners Solicitors" on behalf of Wescot Credit Services Ltd. Prepared to settle for 50% of the balance £3750 if paid by ....blah blah blah

[onesteptoofar]

Re: Full and Final Settlement Letters

Excellent stuff. You are a star.

[size=5]Why don't i just pay them... At the end of the day i just want to clear the slate and start afresh asap. I suppose i feel it's just the "right thing to do" to try and pay a 'reasonable' amount. This way i'll know that in six years i'll have a clean credit file and some money aside from the shares to get a place of my own.

If i pushed them i'd be wary that the shares thing may come back to bite me if i hadn't already squared things with the dca's. Although i guess this would probably never happen.

[Never-In-Doubt]

Re: Full and Final Settlement Letters

Ok sorry for confusion...... 3 it is then.

Ok, leave it with me and on Saturday i'll sort you a template to send off for F&F's. Just an aside, why don't you just not pay em? See how far they push you..... y

[onesteptoofar]

Re: Full and Final Settlement Letters

Hiya Niddy,

It's 3 Lloyds (Credit Card (possibly back with Lloyds), Loan (Moorcroft), Bank Account (SCM/Lloyds)), 1 Cahoot (waiting for Statute barred) and 1 Nationwide (Wescot).

Basically i will be able to sell my shares in the next week, so will have funds available in excess 20k within the fortnight if needed...

As things stand i am umemployed and until the shares sell, without a pot to piss in, so ideally i just want to sell enough to cover the f+f's and give me a little money to tide me over until the next tax year.

If you think we may be able to settle everything for 5k in the next fortnight let's have it!

I'd hoped to be able to f+f everything barring the Cahoot for 7-8k.

[Never-In-Doubt]

Re: Full and Final Settlement Letters

Hiya

Ok that makes a lot more sense and I can now work things out for you based on the up-to-date figures and info. Thanks for providing this simplistic view for us, makes life so much easier - for all involved (including you).

Right you have 4 separate Lloyds accounts, the total balances are in the region of c£23,800 which would mean you ought to try and bundle them together into one amount and make one representative offer from the details of the totals. In this case, i'd be writing to Lloyds making one offer of 10% of value - £2,380.

However, as you've already let things get to a stage whereby Lloyds do not own all the accounts, it makes it hard to do this so you need to come to some sort of plan - and decide exactly what you're prepared to cough up. I'd buy these debts from you for £5k lol - i'd fight the fookers in court! lol

But seriously, just respond to this post with details of the maximum you can afford to repay in F&F offers and more importantly the date in which the funds will be available.

I will then be able to respond as appropriate to each account, so just let me know exactly what the cash sum total is that you will be able to afford along with the date the funds will be available. Such answers as "later this year" do not count, all F&F offers need an expiry date - so if you aint gonna have the dosh in 30 days, forget making F&F offers.

Cheers

Niddy

[onesteptoofar]

Re: Full and Final Settlement Letters

Lloyds Account
Commenced pre-1998
Outstanding balance -2800
Token 1 pound payments made since end 2009
ACCOUNT HAS NOT YET DEFAULTED
Lloyds / SCM Solicitors still own the account

Current Status - Aiming to default asap. Made token 1 pound payments in Sept 2010 but these will be the last. Offered a f+f for 1000 in Sept, awaiting reply.

[onesteptoofar]

Re: Full and Final Settlement Letters

Cahoot Loan - 9k - Taken July 2003
Outstanding balance - 9200
No CCA produced...but no contact either...so i'm not asking!
Last full payment made July 2008
Not paid anything since July 2008
No record on any credit file - Experian, CallCredit, Equifax
DCA - Last correspondence was received was from Debt Management and Recovery Services - Sept 08 "your account is being returned to Cahoot"

Current Status - No CCA produced. Waiting for "Statute Barred". ;-y

[onesteptoofar]

Re: Full and Final Settlement Letters

Lloyds Loan - 20k - Taken July 2005
Enforceable CCA - Niddy checked
Outstanding balance - 7500
Last full payment made - June 2009
Token 1 pound payments made to relevant DCA's Oct 09-Present
Default - Nov 2009
DCA - Moorcroft

Current Status - Moorcroft have not produced a CCA themselves (their latest correspondence assures it is on its way from Lloyds). Offered 1820 as a f+f, no response. (Sept 2010)

I wish to negotiate a f+f but the most i can possibly afford is around 2300. Will continue to make token 1 pound payments and wait for a reply to my f+f offer.

[onesteptoofar]

Re: Full and Final Settlement Letters

Nationwide Loan - 20k - Taken Sept 04
Enforceable CCA - Niddy checked
Outstanding balance - 7500
Default - Feb 2010
Last full payment made - August 2009
Token 1 pound payments have been made every month bar 2 since Sept 09
DCA - Wescot

Current Status - Wescot produced a CCA. Offered 1820 as a f+f, rejected. Wescot counter offered 5630. (Sept 2010). Will continue to make 1 pound token payments.

I wish to re-negotiate a f+f but the most i can possibly afford is around 2300. Is there a template i could use for this?