Full and final settlement

[winslo]

Hi

 

I received a experian standard credit check i did for myself and my wife yesterday.

 

I had some past credit issues but thought they were all sorted and satisfied etc.....

 

On this check it showed there was an outstanding default for £2249 to abbey bank (santander)

 

I totally forgot about this and have had no correspondece from the bank at all.

 

Apparently the default was from 23/02/2008 so over 3 years ago.

 

Now obviously i want to get this resolved, so rang abbey ysterday and explained the situation.

They told me that they had passed the debt onto some other company so i called them.

They tell me they passed the debt back to abbey last march, so rang abbey back.

 

Apprently they have it back.

So i asked if i could have a full and final settlement.

 

They said i would have to write in with an offer but as a rule they wouldnt accept anything less than 80%.

He then went onto to tell me that if they accepted my offer it would show on my credit report as 'partially satisfied' and no 'satisfied' as i had not paid the 'full' amount.

 

That seems like a load of rubbsh to me?

 

Can anyone clarify this please?

 

Also and advice on what sort of ful and final offer to make?

 

I could afford to pay £1000 now to have it cleared.

 

thanks

richard

[dx100uk]

what was the debt about

 

tell us the history.

why have they never chased it...sounds strange to me?

 

you are right to question the F&F too

 

dx

[winslo]

Hi it was an overdraft on an account! We totally forgot we had this account, we have not used it in over 4 years, couldnt tell you where the debit cards are or when the last time we had a statement?Its a very strange one as we still bank with abbey and have done for the past 9 years? We have an up to date current account with an overdraft (not in use) and we often go in branch at least one or twice a week. Its very strange that no one has ever mentioned it to us and the only way ive found it is via a credit report. Im pretty keen to have this sorted as its the only thing on our credit report that shows as 'outstanding'Would i have any leg to stand on to try and challange this and have it removed completely once paid?ThanksRichard