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Full and final


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Guest Angel235

Hi I am new on here so please be gentle!!

 

I am in financial difficulties and have 551 left on my loan but can not pay the monthly repayments anymore,

 

Do you think they would except 150 in full and final and is there a letter I could use?

 

Please help

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Any full and final needs to be specifically worded so the remainder wont be sold, chased or collected on.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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tell us a bout the loan please

 

how old

who with

 

etc etc

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Like the others have asked please tell us more about the loan - when did you take it out?

 

Here's a sample letter for you:

 

(Your home address)

______________________

______________________

Date:__________________

 

To: _____________________

________________________

 

Dear Sir/Madam

 

Without Prejudice

 

Account No: _____________________________

 

I write with reference to the money which you are claiming on the above account.

 

I can confirm that I am unable to offer to pay the money which I owe in full (add details of your circumstances and financial situation). However, I can raise £ (put the amount which you can afford to pay) and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.

 

I also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as having been paid and the account closed.

 

Payment can be made within (put the number of days or weeks within which you will pay) of receiving your written agreement of this offer and method of payment.

 

I look forward to receiving your reply.

 

Yours faithfully

 

(Your signature)

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Guest Angel235

It's a Hsbc loan going back for years, not to sure when I took it out defo 5+ years

 

I just need the extra cash to put towards my rent as I'm behind now and I don't wanna lose my flat :(

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Guest Angel235

My parents said they would give me 150 to pay it off I'm just worried they will put me to a debt recovery and giving that the balance is small I was hoping they might accept this?

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Guest Angel235

Yes 150 and I think I have missed 1 and called them last month and they said they would give me a two month rest but if I miss 7 payments they would send it to debt recovery

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HSBC's debt recovery procedure is generally in-house. They'll pass it to a specialist debt recovery department and then on to 'Metropolitan' - who are simply HSBC with another hat on.

 

Have you other debts too?

 

The key with F&F settlement offers is to persist, it may take a few attempts before they'll consider your settlement offer. If they do accept you MUST keep their confirmation letter in a safe place as it's proof that they've made a promise to you.

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Guest Angel235

I have got others but I'm top of them ie agreed smaller monthly repayments

 

I will send the letter today and see what they say thank you for your advice

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Guest Angel235

Ok letter sent first class post so should I call them in a few days and ask them if they have received it or wait but how

Long do I wait?

 

So for all the questions it's just if I know it's accepted I can pay some more towards my rent

 

:/

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your rent comes FIRST

 

forget the ruddy fleecing banks.

 

these are civil debts

rent is a priority debt

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Guest Angel235

But they don't care about me so they might just send it to debt recovery what can I do for them not to?

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dca's are prob less likely to go for a legal route than the OC.

 

might be a god sent.

 

I bet you've charges involved here

so they wont dare go near a court

for fear of a counter claim.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Guest Angel235

Please help

 

I have now received a arrears letter saying I two months in arrears but why do I have this they said they would let me have a two month break????

 

What do I do I'm really scared now???

 

Please help??? :(

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scared of what?

 

they cant do anything to you.

it a civil debt

 

you said you had £550 to go

they certainly wont goto court over that

too near the end really.

 

doubt if they'll sell it on either

you'll just get the DCA threat-o-grams till you pay.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Guest Angel235

But my credit file/rating is tarnished now? No?

 

They can't send

People round can they?

 

Should I call them and ask if they have received my offer?

 

This is giving me panic attacks now!! Maybe I should just pay it and go behind on my gas/elec maybe they wouldn't

Mind to much?

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have you actually looked at your credit file

prob already done in by other means I would suspect.

 

any doorsteppers ARE NOT BAILIFFS

they have NO SUCCH LEGAL POWERS.

 

the only time bailiffs get involved is

 

IF they get you in court

IF they get a CCJ

IF your then fail to pay

IF they want to involve bailiffs

 

VERY VERY VERY long way off

and as I said

for such a small amount

they'll not bother it almost over.

 

no don't stop paying PRIORITY bills like util bills

 

why don't you just pay HSBC a small token amount?

say £30-£50 a month for now

shows goodwill on your behalf

 

you can do this via your internet banking webportal

they cant refuse it that way.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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doesn't cost anything

noddle is free

see below

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Credit Reference Agencies:Experian Equifax CallCredit noddle

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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