Full Final Settlement offer - MINT

[neobass]

Hi all,

 

I am now in the process of agreeing amounts with my 5 creditors for sum of around £30k.

 

I have received first response back from 1 of them today. Please see below.

 

 

Should I respond back and state that it is upon goodwill I am able to clear the debt or should I offer slightly more than my original offer amount? Also the part where it says it won't be removed from my credit file, assuming I do not have a default against that or any given creditor it will only show as 'partial payment' as they are putting it?

 

Many thanks!

Neo.

Edited June 17, 2013 by neobass

[citizenB]

Have sent an S.O.S out for you.

[BRIGADIER2JCS]

Hi all,

 

I am now in the process of agreeing amounts with my 5 creditors for sum of around £30k.

 

I have received first response back from 1 of them today. Please see below.

 

 

Should I respond back and state that it is upon goodwill I am able to clear the debt or should I offer slightly more than my original offer amount? Also the part where it says it won't be removed from my credit file, assuming I do not have a default against that or any given creditor it will only show as 'partial payment' as they are putting it?

 

Many thanks!

Neo.

Hi citizen B has asked me to take a look at this for you.

 

I must say I disagree with their proposition that the default status should be amended, the ICO Technical Guidance on Defaults is clear as is the Limitations Act on the way this should be recorded, i.e. the account is marked 'partially' settled but the default entry is removed 6 years after the original default date NOT 6 years from the settlement.

 

The Guidance states 'removal after 6 years PAID OR NOT, so my advice yes up the offer slightly IF you can do so without causing you and yours any hardship.

 

I suggest the following.

 

The Compliance Manager

Newman Debt Collection.

 

Ref: use theirs:

 

Sir /Madam,

 

I refer to Newmans response to my generous offer of full and final settlement of this account for the sum of £300.00, the rejection of this has been noted and may be used as evidence that I have attempted to settle this matter amicably if necessary.

 

I am however prepared to make an of £xxx.xx as a gesture of goodwill and without admission of any liability on the following conditions.

 

1. Any remaining balance is NOT sold or assigned to any 3rd party at any time in the future.

2. Removal of adverse data from credit files: The response received is unacceptable as Newman must be aware, the default date on an account CANNOT be amended by a partial settlement, all defaulted accounts are removed from credit file after 6 years PAID or NOT!

 

I therefore require Newman on acceptance of my offer in writing to confirm that the default date will remain unchanged.

 

The alternative is that if this generous offer is declined a payment of a maximum of £x will be made and no further offer of settlement will be made.

 

Newmans written response is required within 7 working days.

 

OK Neo RD/signed for>

 

Interesting point the address for Newman is the same as the notorious Transcom Worlwide Ltd.

[neobass]

Hi BRIGADIER2JCS

 

Many thanks for your informative and clear response.

 

Reading the 6 year comments and felt it was a little odd based upon previous readings on other cases. I shall edit where necessary and send my response. I suspect I shall increase my offer to just above 30% and take it from there.

 

I shall update you all upon there follow up response.

 

Best Regards,

Neo

[BRIGADIER2JCS]

You are most welcome Neo.

Yes please keep me informed.

[dx100uk]

I hope all these debts SHOW on your CRA file?

 

if not they are fleecing you.

 

as this is an bank OD

 

I bet 90% is PENALTY charges too.

 

if you must pay

DO IT TO THE ORIGINAL CREDIT

 

never ever pay a DCA an F&F.

 

dx

[neobass]

I hope all these debts SHOW on your CRA file?

 

if not they are fleecing you.

 

as this is an bank OD

 

I bet 90% is PENALTY charges too.

 

if you must pay

DO IT TO THE ORIGINAL CREDIT

 

never ever pay a DCA an F&F.

 

dx

 

Hi Dx

 

It is for a Mint credit card. Just looking on my credit report it doesn't appear to be actually showing! The only one showing is a credit card from Barclays (whom I've sent a FF offer too aswell) I have 2 CCJ showing but from same creditor from 2009 again sent FF offer too.

 

So seems my offer to Mint has been a fair one, I'll be sure to stand my ground based upon there decision to accept my 30% offer.

 

Regards,

Neo

[neobass]

I hope all these debts SHOW on your CRA file?

 

if not they are fleecing you.

 

as this is an bank OD

 

I bet 90% is PENALTY charges too.

 

if you must pay

DO IT TO THE ORIGINAL CREDIT

 

never ever pay a DCA an F&F.

 

dx

 

On note of the highlighted.

 

Should all my FF be sent only to original credtiors/banks rather than a DCA acting upon there behalf? Always and a must?

[dx100uk]

woa!

 

you need to slow down here...

 

if debts are not showing on your CRA file..

 

then prob you don't owe anything [

you seriously need to investigate WHY

 

as for the CCJ's whats the date on those?

you cant offer a short settlement on a ccj either.

 

if the CCJ has been sold on

from the NAMED CLAIMANT

then don't pay the buyer anything!

 

you REALLY need to list your debts- who owns them - and how much is outstanding..

 

my fear here is you are taking 'on spec'

whatever these DCA's tell you you owe..

 

when most prob YOU DONT OWE ANYTHING.

 

dx

[neobass]

woa!

 

you need to slow down here...

 

if debts are not showing on your CRA file..

 

then prob you don't owe anything [

 

as for the CCJ's whats the date on those?

you cant offer a short settlement on a ccj either.

 

if the CCJ has been sold on

from the NAMED CLAIMANT

then don't pay the buyer anything!

 

you REALLY need to list your debts- who owns them - and how much is outstanding..

 

my fear here is you are taking 'on spec'

whatever these DCA's tell you you owe..

 

when most prob YOU DONT OWE ANYTHING.

 

dx

 

I would probably be better posting a full thread on this?

 

But perhaps a moderator is willing to edit the title.

 

Here's my current list of debts.

 

£6900 - Cahoot Loan, Moorcroft Debt Recovery Ltd (Not showing on my credit report)

£11,500 - Egg Loan, Aktiv Kapital (UK) Ltd (Not showing on my credit report)

£1295 - Mint credit card, Newman & Company (Not showing on my credit report)

£3500 - Barclay credit card, Robinson Way Ltd (Showing on my credit report)

£4800 - HSBC Overdraft, Howard Cohen & Co (Showing as CCJ from 24/08/09)

£1000 - HSBC Credit card, Howard Cohen & Co (Showing as CCJ from 10/08/09)

 

I have offered most of these 25% as a settlement.

 

Have I made a mistake?

 

I have been paying all creditors on a debt management for almost 7 years, and I've decided enough is enough. I have come into a little money and want to clear it via FF route.

[dx100uk]

I would probably be better posting a full thread on this?

 

But perhaps a moderator is willing to edit the title.

 

Here's my current list of debts.

 

£6900 - Cahoot Loan, Moorcroft Debt Recovery Ltd (Not showing on my credit report) - when was you last payment?

£11,500 - Egg Loan, Aktiv Kapital (UK) Ltd (Not showing on my credit report) - when was you last payment?

£1295 - Mint credit card, Newman & Company (Not showing on my credit report) - when was you last payment?

£3500 - Barclay credit card, Robinson Way Ltd (Showing on my credit report) - when was you last payment? & the defaulted date please?

£4800 - HSBC Overdraft, Howard Cohen & Co (Showing as CCJ from 24/08/09) - did you defend, get any paperwork before the CCJ?

£1000 - HSBC Credit card, Howard Cohen & Co (Showing as CCJ from 10/08/09) - when was you last payment?

 

I have offered most of these 25% as a settlement.

 

Have I made a mistake?

 

I have been paying all creditors on a debt management for almost 7 years, and I've decided enough is enough. I have come into a little money and want to clear it via FF route.

 

who was the DMP with?

 

dx

[neobass]

who was the DMP with?

 

dx

 

Chruchwood financial.

 

I'm well aware they fleece me too! When I mentioned several months ago about FF they said they would be able to do it for me, but there charges were absurd. I'm little more grown up before I got myself into debt and getting into settling down. I've left it later than I'd like but now I have come into money my main aim is to wipe the slate clean and take each one down in the right order.

 

I have already claimed for PPI from the above creditors, some was successful others were not. Again that money will go to some good use to getting me debt free.

[neobass]

£6900 - Cahoot Loan, Moorcroft Debt Recovery Ltd (Not showing on my credit report) - when was you last payment? Through DMP once every month

£11,500 - Egg Loan, Aktiv Kapital (UK) Ltd (Not showing on my credit report) - when was you last payment? Through DMP once every month

£1295 - Mint credit card, Newman & Company (Not showing on my credit report) - when was you last payment? Through DMP once every month

£3500 - Barclay credit card, Robinson Way Ltd (Showing on my credit report) - when was you last payment? & the defaulted date please? Through DMP once every month, Defaulted on 01/11/2007 for the amount £4,423 funny it shows me at 8 late payments for the last 6 years!!

£4800 - HSBC Overdraft, Howard Cohen & Co (Showing as CCJ from 24/08/09) - did you defend, get any paperwork before the CCJ? I did not defend as I was setting up DMP at the time, my brain is a little faded on it perhaps I should get clarification from the Northampton Court?

£1000 - HSBC Credit card, Howard Cohen & Co (Showing as CCJ from 10/08/09) - when was you last payment? Through DMP once every month

 

After little more digging it appears the 2 CCJs are -

 

Unsatisfied Judgment.

 

Called Northampton Court who were happy to help so it appears that HSBC sold debt to Howard Cohen whom CL Finance ordered the CCJ. So would be looking at 2015 till its off but would be a weight off just to have it showing as 'satisfied'

Edited June 17, 2013 by neobass

[dx100uk]

wont make any diff as such.

 

did you contest the CCJ's or you knew nowt about them ?

 

as for payments

 

when did you come out of the DMP.

 

dx

[neobass]

wont make any diff as such.

 

did you contest the CCJ's or you knew nowt about them ?

 

as for payments

 

when did you come out of the DMP.

 

dx

 

I didn't contest the CCJs, I was in a DMP at the time so I have to say I knew nothing about it.

 

I am still on DMP, I'll close/stop it once FF are persued.

[dx100uk]

so where did the ccj go to the dmp company?

 

if so you need to get THEM in court

 

have you actually CHECKED that any of your payments to this DMP have gone off the debts?

 

this is beginning to smell.

 

sadly we find many fee paying DMP's pocket your money.

 

dx

[dx100uk]

getting to the stage that we p'haps need individual threads created for each of these debts.

 

then a more detailed look needs doing on each.

 

dx

[neobass]

so where did the ccj go to the dmp company?

 

if so you need to get THEM in court

 

have you actually CHECKED that any of your payments to this DMP have gone off the debts?

 

this is beginning to smell.

 

sadly we find many fee paying DMP's pocket your money.

 

dx

 

Yes the DMP are distributing funds to creditors and have been sending me monthly statements for the last 5-6 yrs. I understand they charge me £25 for doing nothing, another reason I want to get FF all done and dusted ASAP

[neobass]

getting to the stage that we p'haps need individual threads created for each of these debts.

 

then a more detailed look needs doing on each.

 

dx

 

Absolutely.

 

But as I've switched my head on in the last couple weeks to this all its clear to me the following.

 

1) I must find out why Barclays credit card as showing "8" on my credit report. DMP has had payments from me for the last 6 yrs every month without fail. I never ever miss payments being on DMP.

 

2) Get reasonable settlement as FF for HSBC OD and Mastercard ASAP. That way those will be reflected as 'settled'

 

3) Wait for further corespondance from other creditors based upon my 25% offer for FF.

 

--

All in all my current credit score is 630. I don't simply wish to pay off those as partial payments to improve my score and credit profile as whole, but to be rid of debt out of my life 100%. Obvious reasons I do not have the money owing to clear them as full value, and even then as you say debts have been sold off.

[dx100uk]

I would suspect none of the debts were ever checked if they are enforceable

 

save yourself some money

 

send a cca request off to whomever is getting money through the DMP.

 

the bank accounts don't have a cca though.

I really do hope all you debts are 'real'

 

dx

[neobass]

CCA? sorry i'm just about getting my head around all the acronyms

[BRIGADIER2JCS]

I agree with dx Neo CCA = request for copy of Consumer Credit Agreement

[neobass]

I agree with dx Neo CCA = request for copy of Consumer Credit Agreement

 

From Chruchwood? I'll do that.

 

The Barclay Card credit report thing has me miffed though. Its as though they never got a penny clealy shows they got £15 a month for the last 5-7 yrs every month!

[BRIGADIER2JCS]

Yes it is an annoying situation and all to familiar.

[neobass]

Yes it is an annoying situation and all to familiar.

 

Remedy solution to fix it? or just a continuing oversight?