[urgent] full and final settlement

[hendo29]

I have made an offer to Mackenzie Hall, acting on behalf of Quickquid, for full and final settlement of my outstanging balance.

 

i got stuck in the nasty cycle of Payday loans and am now nearly out the hole.

 

M/Hall have accepted my offer but are refusing to update my credit file as, settled in full.

 

They claim that a full and final settlement is classed as a "short settlement" and my credit file will be updated with, Full Default.

 

is this acceptable?

 

I was under the impression that once an offer of full and final settlement was accepted, it was exactly that, full settlement of the account.

 

i appreciate any help/advice with this. i have until the end of the week before the deadline of the written agreement lapses.

 

thanks in advance

[Sidewinder]

Be careful - Mucky Hall don't give a damn what they leave on your file. Any F&F should ALWAYS carry a written agreement that your file will be cleared or marked as satisfied. DCAs are notorious for accepting your money (that's the only thing they exist for) and then another one comes around trying to collect on the remainder!

[renegadeimp]

Get a FULL complaint in to mucky hall, and contact their local trading standards office. Things will soon shift then.

[hendo29]

thanks, i have read that they were difficult to deal with.

 

would i be better going direct to quickquid with my offer?

 

how should my credit file be updated when an account is settled with F+F?

[dx100uk]

pay the OC not mucky hall

 

dx

[renegadeimp]

QQ will ignore you. They are an american company and simply sell outstanding debts on.

 

You can go to QQ if you want, but you will find it tricky to pay them, as they are insistent on getting your bank details. Check your credit file and see if its been placed on there. You also need to find out who owns the debt. If mucky hall doesnt, and you pay them, i GUARANTEE that they will take a big chunk of the cash for themselves and tell QQ it's an admin fee.

[hendo29]

a complaint regarding the way they are dealing with my offer?

[hendo29]

on my credit file, the balance is filed under M/Hall. does this mean they own the account?

 

if not how do i find out who owns the account?

[renegadeimp]

A complaint about the way you are being treated. If MH arent the owner of the debt, tell them to take a jump off a cliff. Your complaint needs to outline what has happened, where you think things have failed and what you want achieved as a result of the complaint. Give them 14-28 days to respond. Depending on their response, then we can advise on the next move.

[dx100uk]

urm........

 

so MH are listed on your CRA file?

 

that means QQ have sold the debt

 

that means there is something VERY wrong with it.

 

however this could be to your advantage

as they'll accepy a very low F&F

and be able to remove ALL data too.

 

dx

[hendo29]

sounds like a plan.

 

what would be the action M/Hall is obligated to carry out when accepting a F+F offer?

 

where will i find out who owns my account?

[hendo29]

urm........

 

so MH are listed on your CRA file?

 

that means QQ have sold the debt

 

that means there is something VERY wrong with it.

 

however this could be to your advantage

as they'll accepy a very low F&F

and be able to remove ALL data too.

 

yeah M/Hall on file, how do you mean wrong?

 

they have accepted a 50% offer but are unwilling to remove the default.

 

how can i get them to do this?

[renegadeimp]

Not necessarily wrong DX. QQ are very well known for selling debts they cant collect on. Normally because they cant get a court claim going over here as they have no actual offices or representatives to show up at court.

 

The only thing i could see that would throw a spanner in the works is that MH wont have the CCA.

[hendo29]

The only thing i could see that would throw a spanner in the works is that MH wont have the CCA.

 

thought online companys could get round this post 2006?

[renegadeimp]

They need to produce a reconstituted agreement post april 2007 but it still has to comply with certain rules. It's worth a shot. Do you know if they added ANY charges to the account?

[hendo29]

Yeah ibelieve there is charges, sure there is an extra £200 on the original balance

[dx100uk]

that could be the discount then.

 

pers i'd tell muckyhall you'll pay them £1PCM

unless they AGREE to mark the debt SETTLED

and remove ALL negative data.

 

they can do that and do do it

 

dx

[renegadeimp]

That 200 is probably mucky hall adding on some silly charges of their own. I hate to say this but it's actually rare for QQ to add that much in bogus charges. They normally add on £50 or so then get rid of the debt.

[hendo29]

pers i'd tell muckyhall you'll pay them £1PCM

unless they AGREE to mark the debt SETTLED

and remove ALL negative data.

 

they can do that and do do it

 

dx

 

i will try this road and if still dont get anywhere will start with a full complaint.

 

i will post again when i get further correspondence

[hendo29]

Got an update on this one.

 

After M/Hall refusing to accept my F+F i offered a repayment of £1PCM, they have requested an income/expenditure form be filled out.

 

Instead I challenged the owner ship of the account, as M/Hall have always pursued the account, stating there acting on behalf of the client QQ.

 

Its been a little E-Mail ping pong but its shaping up nice. the conversations below, any personal info removed.

 

M/Hall

I can confirm that Mackenzie Hall are the owners of this debt. With regards to your balance the principle was £200 but this excludes fees, interest, and any charges. The loan was taken out on the xx/xx/xx and its due date for payment was the xx/xx/xx. As no payments have been made to the account the fees, interest, and charges have been applied which is why your account balance now sits at £ 1,004.00. These loans are meant to be paid back in one month. If they carry on for any length of time the balance owed does increase accordingly.

As I have stated before we are more than happy to come to a compromise on the balance outstanding due to your financial circumstances hence why we have offered you a short settlement figure of £502.00. This offer still stands.

I look forward to hearing from you and would appreciate you sending back your financial statement so we can assess your situation and help you accordingly

Me

I would have appreciated if you would have informed me of your ownership of the account at the start of this issue, instead of acting under the false pretence that you were taking action on behalf of your client, Quickquid.

 

 

I believe that I should have been provided with a deed of assignment of the debt being sold on to you, I have never recieved this document.

 

 

 

I also believe that a Default notice should have been sent to me prior to the default being applied to my file, again I have no recollection of ever receiving such a document.

 

 

 

Therefore, again before we can discuss this case further, I requier that you provide me with the following documents

 

 

1. You must supply me with a signed true and certified copy of the original default notice

2. Any deed of assignment for when the debt was sold on.

 

 

 

I will permit 1 week for you to provide these documents to me, via post, to my home address.

 

 

 

If you are unable to comply with this request I will persist with an official Consumer Credit Agreement request, in which you will then be legally obligated to provide me with the data I have requested and you will need to produce a reconstituted agreement.

 

 

 

I may also be forced to file a complaint regarding the negligence of Mackenzie Hall regreting to inform me of your ownership of the above account, and pursuing the claimed outstanding balance under the false pretense that you were acting on behalf of a third party, I will have no choice but to escalate the matter to the relevant authorities including, but not limited to, the Banking Ombudsman, Office of Fair Trading, Credit Services Agency and the Information Commissioner's Office.

 

 

 

I look forward to your response.

 

M/Hall

I am sorry you feel that information provided to you has not been as clear as you would have liked. I have offered to discuss this account on the phone so we could come to an amicable arrangement but you have declined to do this. I am sure you can appreciate communicating by email is not ideal as it is clear in your last response you believe certain information has been withheld from you. I can assure you this is not the case and I have replied to you accurately and promptly on each of your requests. I would recommend based on your last response to please give me a call so we can resolve this matter to your satisfaction.

With regards to the information you have requested I will flag this to the relevant department to organise.

Me

As I informed you at the start of this issue, I would like to maintain all correspondence in writing, this way I hold a permenant record of all correspondence.

 

I have not related to the missing data as withheld, I merley stated that I do not recall receiving a Default Notice or a Deed of Assignment. I have requested that you provide me with these documents, you have 1 week to provide these documents to me, via post, to my home address.

I also believe that I am only requiered to repay the original loan plus one months interest, therefore, I now also request that you send me a statement of account, with a breakdown of the original loan and any charges, fee's and interest that has been added over months proceeding the original loan.

 

 

If you fail to provide me with these documents within one week I will issue an official Consumer Credit Agreement request, in which you will be legally obligated to provide me with the documents I have requested.

 

I have documented evidence that you have pursued me for this alleged debt since November 2012, under the false pretence, that you were collecting the outstanding balance on behalf of your client, Quickquid. I you fail to comply with my requests, I will have no choice but to escalate the matter to the relevant authorities including, but not limited to, the Banking Ombudsman, Office of Fair Trading, Credit Services Agency and the Information Commissioner's Office.

 

 

Any thoughts?

[hendo29]

sorry its a big read

[dx100uk]

you'll never get to see the deed

 

its the assignment you want.

 

however you know they own it as the cra file states it.

 

if they'll settle for £500

that means they got it for

 

so tell 'em £200 or £1PCM till you die

 

dx

.

[hendo29]

yeah, thats the route i am thinking dx.

 

what about the fact the have claimed to be acting on behalf of QQ when not, should i start a complaint on that, or hold off for now?

[renegadeimp]

You wont get the deed as it is a commercially sensitive document that would contain a whole host of other debts, as the DCA would buy them in bulk and not individually. Ask for the notice of assignment.

[dx100uk]

wouldn't bother really

 

not much really wrong withthat.

 

as such

 

dx