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Re: Malamute UE Diary
Hi malamute,
The end of year/quarter day thing is purely speculation on the way large companies do business at times. May I suggest BEFORE doing anything further with the F & F settlement that you do the reading up on it carefully. Firstly, Pixie is dead right here, why would you want to get involved in the somewhat risky business of an F & F whilst they have supplied no legally substantive documentation?
This is NOT relatively simple Statute Law like the CCA1974/2006 you are getting involved with here, it is the full blown complexity of the Common Law of Contract. Detail and wordings are most important, case law needs to be understood even if only in simplistic form and it is huge right back to 1602, yes 1602. If a Common Law issue goes wrong then the costs of litigation to put it right can be expensive indeed.
Right, now the warnings are out of the way, if there is no pressing reason to pursue an F & F, then don't would be my feeling. They have no agreement at the moment and it is they that are in default, not you. Hence you can sit. Please be aware if the only reason you want to settle this is have a satisfied marker on your CRF then this may not happen and be a battle to get it so. Plus be aware that if defaults already exist on the CRF about this debt then there is no legal lever you can use to get rid of them. CRFs only have to report accurate data as to the circumstance, and yes you can insist on a satisfied marker in the deal but that does not negate or change or remove the history of the debt.
If you enter correspondence with the creditor or their agents on this be very careful about them using any wording such as "partial settlement" in their correspondence to you, do not be fooled this has nothing at all to do with your CRF this is leaving the door open for you to be pursued for the balances at a later date.
Finally at this stage, if you want to go ahead, then follow carefully the AAD templates and routes to do it. Never start above 10% and negotiate your way through as it has been described on here a number of times. There IS another way but you will need professional legal advisors and I mean professional lawyers to handle it and that is the use of third party benefactors and payments. There is always an element of risk in all this which you will have to assess. AAD does not recommend this route, we personally have had success, so working alone, I would study the AAD templates and get a feeling of understanding what it is about.
Hope that helps a bit.
regards
Garlok
Hi malamute,
The end of year/quarter day thing is purely speculation on the way large companies do business at times. May I suggest BEFORE doing anything further with the F & F settlement that you do the reading up on it carefully. Firstly, Pixie is dead right here, why would you want to get involved in the somewhat risky business of an F & F whilst they have supplied no legally substantive documentation?
This is NOT relatively simple Statute Law like the CCA1974/2006 you are getting involved with here, it is the full blown complexity of the Common Law of Contract. Detail and wordings are most important, case law needs to be understood even if only in simplistic form and it is huge right back to 1602, yes 1602. If a Common Law issue goes wrong then the costs of litigation to put it right can be expensive indeed.
Right, now the warnings are out of the way, if there is no pressing reason to pursue an F & F, then don't would be my feeling. They have no agreement at the moment and it is they that are in default, not you. Hence you can sit. Please be aware if the only reason you want to settle this is have a satisfied marker on your CRF then this may not happen and be a battle to get it so. Plus be aware that if defaults already exist on the CRF about this debt then there is no legal lever you can use to get rid of them. CRFs only have to report accurate data as to the circumstance, and yes you can insist on a satisfied marker in the deal but that does not negate or change or remove the history of the debt.
If you enter correspondence with the creditor or their agents on this be very careful about them using any wording such as "partial settlement" in their correspondence to you, do not be fooled this has nothing at all to do with your CRF this is leaving the door open for you to be pursued for the balances at a later date.
Finally at this stage, if you want to go ahead, then follow carefully the AAD templates and routes to do it. Never start above 10% and negotiate your way through as it has been described on here a number of times. There IS another way but you will need professional legal advisors and I mean professional lawyers to handle it and that is the use of third party benefactors and payments. There is always an element of risk in all this which you will have to assess. AAD does not recommend this route, we personally have had success, so working alone, I would study the AAD templates and get a feeling of understanding what it is about.
Hope that helps a bit.
regards
Garlok
NatWest/RBS Mint - (Un)Helpful banking 
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