DevilDogs UE Diary

[DevilDog]

Re: DevilDogs UE Diary

Hi

Ok I've had a letter today from Barclays about the loan as follows;

"Please accept this letter as notification that, due to non payment, your above Barclays account has been pased to RMA, a third party debt collection agency who are authorised to act as agents for Barclays Bank Plc to recover monies outstanding.

As stated in the Formal Demand recently issued to you by us, the balance stated above is now due in full and we request that you pay the amount immediately to RMA. Please note that we will no longer accept any further communication from you on the matter, therefore you should redirect all communication and payment to RMA.

etc. ect."

Does this mean the debt has been sold on - and if so should I begin negociating a F&F with RMA?

[Deepie]

Re: DevilDogs UE Diary

Hi

Ok I've had a letter today from Barclays about the loan as follows;

"Please accept this letter as notification that, due to non payment, your above Barclays account has been pased to RMA, a third party debt collection agency who are authorised to act as agents for Barclays Bank Plc to recover monies outstanding.

As stated in the Formal Demand recently issued to you by us, the balance stated above is now due in full and we request that you pay the amount immediately to RMA. Please note that we will no longer accept any further communication from you on the matter, therefore you should redirect all communication and payment to RMA.

etc. ect."

Does this mean the debt has been sold on - and if so should I begin negociating a F&F with RMA?

Just see what RMA send you next

[garlok]

Re: DevilDogs UE Diary

Have you had formal Notice of Assignment? We have RMA on our listings but normally only act as "agents" for Barclays, i.e. they don't own the debt. Have you had a default notice and was it valid? The letter implies that they have terminated the agreement (demanding payment in full) which they cannot do unless they have followed the procedure correctly under s87(1).

If it is not actually sold then it will be difficult to obtain an F & F of reasonable level. If it is sold and they can prove it then give it a couple of weeks and then offer 10% no more if that is the route you choose. Otherwise you could screw them around and make an offer of a pound a month. I would make certain of my position and the real status of the loan however before doing anything.
As always in matters of litigation make them come to you first.
Garlok

[DevilDog]

Re: DevilDogs UE Diary

Ok thanks I'll wait and see what RMA send me.

I'm sure Barclays have defaulted me as its on my credit file.

[Pixie]

Re: DevilDogs UE Diary

It probably hasn't been sold just passed on to RMA. If an account is sold, you should receive a notice of assignment.

I'd ignore the letter and hold off any F&F negotiations. Wait until you see if you get a notice of assignment or serious legal threats. As it looks likely that Barclays still actually own the debt you won't get a good F&F settlement.

[Pixie]

Re: DevilDogs UE Diary

Oops! Shouldn't have answered my phone in the middle of typing my reply. At least we're talking along the same lines

[DevilDog]

Re: DevilDogs UE Diary

Hi I've not been on for a while as nothing much has been happening.

I sent letters to all concerened a few weeks ago offering F&F's based on £7K I have available in shares but 3 rejected and I didn't ever hear back from the other 3.

Anyway, I've had a letter today from Power2Contact regarding my Barc. overdraft, aprox £300

"We have been instructed by our client to VISIT YOUR ADDRESS TO COLLECT THE ABOVE DEBT.

You have made this action necessary as you have ignored all their requets to contact them and you have failed to pay your account.

etc. etc."

Is this just another standard letter designed to get me to pick up the phone? I know they have no powers so what do I do now?

[Deepie]

Re: DevilDogs UE Diary

Hi I've not been on for a while as nothing much has been happening.

I sent letters to all concerened a few weeks ago offering F&F's based on £7K I have available in shares but 3 rejected and I didn't ever hear back from the other 3.

Anyway, I've had a letter today from Power2Contact regarding my Barc. overdraft, aprox £300

"We have been instructed by our client to VISIT YOUR ADDRESS TO COLLECT THE ABOVE DEBT.

You have made this action necessary as you have ignored all their requets to contact them and you have failed to pay your account.

etc. etc."

Is this just another standard letter designed to get me to pick up the phone? I know they have no powers so what do I do now?

I Doubt they will call.... You could send this after Christmas no point doing much now > Harassment & Threat of Doorstep-Visit

[DevilDog]

Re: DevilDogs UE Diary

Thanks In2Deep will do, I was a bit worried when I saw the thread on them in the DCA section.

It's a pain really as we sent a pro-rata offer to everyone but this one went to the wrong DCA, it's so hard keeping track of whos is dealing with what haha

Anyway, some better news is I've recieved a letter from Rockwell accepting our settlement offer on our M&S credit card, but it's only for a short settlement not a F&F;

"We can confirm that £X has been accepted in Short Settlement to discharge your liability in respect of the above account.

In Short Settlement a discounted amount is paid to clear an outstanding balance. When your credit file is updated by our clients it will show as satisfied but the remaining balance may still show on your file, however you will not be pursued for the same.

This is not the same as a F&F settlement. In a F&F settlement a discounted amount is paid and when the credit file is updated it will show as satisfied with a nil balance.

Unfortunately our clients are only accepting Short Settlements.

Upon receipt of the funds you will be sent confirmation that this matter has been concluded."

Sounds pretty promising but I'm wary of the balance still showing - what should my response be now as I am happy to accept but want this to be the end of it.

[DevilDog]

Re: DevilDogs UE Diary

Hi, I hope everyone had a good Christmas

I've sent the doorstep letter off to P2C today and included the pro-rata settlement offer too so I will wait and see what they say.

Any advice on the letter in post 39 regarding a short settlement offer on my M&S credit card?

Thanks

[DevilDog]

Re: DevilDogs UE Diary

Regarding the Short Settlement offer I was thinking of sending this back;

"Thank you for your letter dated 23rd December 2011 which I received today. While I am delighted that your client has accepted my offer I would be grateful if you could clarify certain points for me before payment is made.

Could you please confirm that your client, Marks & Spencer Financial Services LTD., have agreed to accept £X as a Partial and Final Settlement of my outstanding debt of £X.

I understand this to mean that you will accept the lower amount, writing off the remainder and after the offered figure is received by you there will be no further action and you will not be passing the Account to any Third Party for collection. Could you please also clarify the situation in regards to marking the Account as Satisfied on my Credit File.

In short, please confirm in writing that Marks & Spencer Financial Services LTD. will agree to;

· Close the account ,
· Release me from any liability for this account and any remaining balance,
· Not demand any further payments towards the account,
· Not pursue the remaining balance,
· Not instruct any other agency to pursue the remaining balance on their behalf,
· Not sell the remaining balance on to a 3rd party,
· Mark the account as “Satisfied” on all 3 credit reference agency files,
· Show the balance owing as “Nil” on all 3 credit reference agency files.

I apologise for this inconvenience to you but the actions of other Creditors leave me no choice other than to insist on written confirmation.

Once your confirmation has been received, agreeing to the above points, payment can be made within 14 days.
Please also include the name and address of who and where I should send payment, along with details such as the Payee and any necessary reference numbers to quote on the cheque.

Thank you for your generous offer and your continued understanding in the handling of this matter."

Does thar cover everything or is there something I have missed?

[garlok]

Re: DevilDogs UE Diary

Hi DD,
Sorry for the delay. This seems a good offer but be careful of how you structure your letter. Have a look here:-

>UPDATED 20.06.2011 - Full Final Offer Templates - allaboutFORUMS

These are template letters which give refwerence to the case law which will trip you up later if you don't get the wording correct, regardless of what they say. I am always very wary of wording like "Partial Settlement" "Short Settlement" and the like. This ALWAYS leaves the door open to future pursuit. This is NOT CCA Statute Law, all F & Fs are the full blown Common Law of Contract and need to be dealt with in a careful way. Follow the commenst there and you will be fine.

In the preamble to the link I have given you it says a little about third party cheques or payments. This is an additional safeguard and allows you to rely on Bracken v Billinghurst in the Court of Appeal if the cheques are cashed. This case has never been challenged and in itself relies on another CoA case, the Temple case and Fletcher Moulton LJ's very clear rulings on the subject.

regards
Garlok

[Never-In-Doubt]

Re: DevilDogs UE Diary

Hmmmm

To be honest I'd just accept it, their letter is sound and cannot come back to bite you, you'll be fine - agree to the points, send a letter and cheque off with it....

How much was the offer they accepted? Please clarify this prior to sending anything off......

[Deepie]

Re: DevilDogs UE Diary

Did you ever settle this ?

[nanna58]

Re: DevilDogs UE Diary

Hi any updates ?