How to pay a F&F and determine if it's a legit offer?

[Joanna Connolly Solicitors]

I would have had a leaflet to fill in and send off, sent to me through the post. I'm not sure if PPI was involved. My original forms from my SAR request are probably stored away in an attic at a friend's house a few hundred miles away, before I relocated. Won't have access to them till later next month.

My quandary is this. By sending off for the s.78, I will miss Ruthbridge deadline to settle at 20%, which falls next week. They have previously sent me a similar deadline a few months back, at 30%.

If the paperwork comes back and is in order, i.e. enforceable, will Ruthbridge have decided to send file back to Cabot and I may not get the chance of 20% again and/or Cabot decide to ask for a higher full and final instead?

Also, due to personal reasons of wanting to move on, not wanting to fight this for years ( I know they may well still send letters if it gets to SB or deemed UE) Due to a diagnosis, life expectancy is shortened (nothing terminal yet! just don't know how long, 5, 10, 15 years) I don't want my now wife to be dealing with letters arriving after I've possibly gone and being harassed into paying the full amount.

So, totally agree, from a position of knowing would be best, BUT don't want to miss my chance of a good settlement in case paperwork turns out ok for them...

I completely understand why you are thinking the way you are thinking now that you've added a bit more background about your personal situation.

You've been made an offer (via Ruthbridge) which seems to be a way to bring closure on this situation and an opportunity to move on with your new life with your wife. The only fly in the ointment is the 'sell by date' of the offer which may expire before you have been able to establish your legal position..

From what you say there is a week for you to make up your mind unless Rutbridge agree to extend the offer. Don't ask them to do that just yet because that would possibly be seen as acknowledging the debt for Statute Barred purposes.

Why not send a Subject Access Request to HSBC to establish what data they hold on you for this 2004/5 account. Because if HSBC haven't got the credit agreement, or sufficient information to reconstitute an 'honest and accurate' reconstituted version then Cabot won't be able to get it either.

Di

[Timewilltell]

Can I just say as having dealings with the Cabot, these offers that you have received will more often than not come around again at a later date. So even if you miss this bus there will be another. I found it better to establish my position before agreeing to theirs, only to find my position better than theirs.
Perhaps I could offer them a bus??

[finn derry]

I completely understand why you are thinking the way you are thinking now that you've added a bit more background about your personal situation.

You've been made an offer (via Ruthbridge) which seems to be a way to bring closure on this situation and an opportunity to move on with your new life with your wife. The only fly in the ointment is the 'sell by date' of the offer which may expire before you have been able to establish your legal position..

From what you say there is a week for you to make up your mind unless Rutbridge agree to extend the offer. Don't ask them to do that just yet because that would possibly be seen as acknowledging the debt for Statute Barred purposes.

Why not send a Subject Access Request to HSBC to establish what data they hold on you for this 2004/5 account. Because if HSBC haven't got the credit agreement, or sufficient information to reconstitute an 'honest and accurate' reconstituted version then Cabot won't be able to get it either.

Di

Di and Timewilltell,

Thanks for the replies.

Yes, I did think of calling them to extend, but worried about SB clock. I also thought that possibly a 'friend' could call, asking to extend, as I was out of the country for a month and wouldn't be able to look at mail. Would I encounter the same risk with SB?

I did SAR HSBC in 2009, and they sent a reconstituted (I think) copy.

It would help to move on, and that's foremost in my mind. The moving on bit wouldn't happen immediately, because I have another (final) one of about the same size (but a loan) again went to Cabot, started receiving letters about the same time, had exactly the same timespan with HSBC, reduced payments, then stopped etc.but has been passed to Global, with no offer made yet: just being passed to collections at the moment.
But it would feel a whole lot better having one of them out of the way, in order to better deal with the other one.
The total sum seems a whole lot bigger plus the mental strain of two at once. If I do settle, I will definitely set up a diary for the other one. If I don't, then I will set up a diary for them both. but, maybe only a week to decide.

[finn derry]

My thoughts are to settle this one next week and then to s.77 the other one afterwards. Hedging, so that I get at least one 'good enough' deal.

With that in mind, can anyone help with what I asked in the first post i.e. is making a bank transfer to Ruthbridge proof enough of a full and final settlement given that I have a letter from them stating that if made by the due date,

'we are prepared to accept a Full and Final Payment of £xxxx in settlement of your obligation'.

or should I email something including

• You accept £xx in full & final settlement of this account with no reference or future ability to quote or use Penny v Cole [Pinnel 1602] in trying to recoup any written off balance;

or perhaps call them to make a card payment, as also suggested by them and reiterate that if you accept this etc...

as seen on one of the templates?

The letter also says once remittance is cleared our client where applicable will update credit reference agencies to mark your account as partially settled.


I won't be after credit again, but is the 'partially settled' bit ok?

Thanks

[Joanna Connolly Solicitors]

Have you made any progress with these two Cabot debts?

You were going to send a s77/78 CCA Request to one of them to establish your legal position, and possibly make a F & F settlement on the other.

Di

[finn derry]

Hi Di, thanks for reply. Yes, for the outstanding one, my thoughts are to wait to see if they do more than send 'can you please contact us ' general letters, and keep the SB clock running, over four years at the moment
.Both with Cabot, but different dcas, outstanding one was a loan, settled one was a cc.
I paid the cc at 20% , a result I would have been happy with at anytime over last few years. It just takes the pressure off, halves the outstanding debt., and leaves me mentally more able to deal with the loan when I have to. As they said, I got a letter the week after confirming the debt was settled, paid by debit card,. The week previous, on phone, I asked if it was being recorded, confirming that taking payment confirmed that my debt to them and bank was over.
I plan to SAR the other dca for the loan when I have to, unless you think it's better to do it now? ....

[Joanna Connolly Solicitors]

If Cabot are not actively chasing you for the ex-HSBC loan then you may as well keep your head down as you edge towards Statute Barred status.

If they begin to make noises then you can send a s77 CCA Request to them.

I wouldn't send a SAR to the DCA - who are they?

Di

[finn derry]

Ok, thanks again for advice.

The DCA is Global