Cabot full and final letter - old welcome debt

[renegadeimp]

The payment should be sent AFTER recieving confirmation that the creditor is willing to abide by the debtors terms. Otherwise it is deemed a gift or payment made towards the amount allegedly owed and the creditor can continue chasing you for the remainder. We've seen it time and time again here, and even in courts.

[The Mould]

Counter offer does not require settlement cheque to be enclosed. The op simply needs to make counter offer, state that no admission of liability is made to amount claimed and that if the creditor accepts his counter offer and the conditions upon which it is made, then op will send his/third party cheque cheque made out in full and final to such conditions within 7 days of his (the creditor's) acceptance of the same!

 

Kind regards

 

The Mould

[The Mould]

I mean no disrespect to any CAG member, but please do not test me any further as regards legally binding settlement agreements. My success rate in this 400+year old law speaks for itself.

 

Kind regards

 

The Mould

[BRIGADIER2JCS]

It is quite simple, the account is marked balance zero. partially settled which is truthful, factual, accurate and NOT a lie.

[The Mould]

It is quite simple, the account is marked balance zero. partially settled which is truthful, factual, accurate and NOT a lie.

 

True my dear fellow, but the op has an opportunity to make his counter offer to the same on his conditions, the whole purpose of settlement agreements is that each side is willing to comprise and give up/sacrifice his position in order to reach a settlement agreement.

 

I am not arguing with you and so please do not think that I am. An offer to settle has been made to the op, the op has a great opportunity to make his counter offer to the same pursuant to his conditions. In my considered opinion, the op should make his counter offer to his creditor, without any admission of liability of amount claimed on this account/debt and on the further condition that the account to which this matter relates is marked as settled, zero balance and account closed on all three of his credit reference files if the creditor accepts the amount offered in full and final of this account in accordance to which such offer is made against this account. Should the creditor accept the forgoing, then the op will arrange the full and final settlement cheque to be sent to him (the creditor) within 14 days of his written acceptance of the same.

 

Kind regards

 

The Mould

[BRIGADIER2JCS]

Inaccurate i.e. false data cannot be acceptable at any point for any reason.

[The Mould]

Inaccurate i.e. false data cannot be acceptable at any point for any reason.

 

For Christ's sake, what false data are you taking about? If the op makes his counter offer to settle this matter and his creditor should accept such pursuant to the op's conditions that I have posted here, there would be no such false information entered on the op's credit reference files that you refer to. Again, I really do not mean any disrespect to you on this matter, but, my dear fellow, 400+ of case law in this area, clearly proves that you are wrong with your contentions.

 

Let us work together to help the op achieve a satisfactory and lawful conclusion to his situation.

 

Kind regards

 

The Mould

[BRIGADIER2JCS]

A partial settlement is just that, cannot be reported as anything else!

End of my contribution.

[alydoc]

hi guys, right so iv sent letters off and refusing to answer calls but I might have a bigger problem.....

Looked at my credit file and welcome have marked it settled but put DA marker on noodle but worse is there is no default marker aywere just bb late payments since 2008 does this mean I could have this on for another six years once cabot mark as default or can I stop them from marking default?

 

thanks

[BRIGADIER2JCS]

Noddle is not always up to date or accurate as it relies on 2nd hand data.

 

My Guess is that Welcome have defaulted and sold on the account very recently, there seems to be some delay in up dates to CRA files at present.

[alydoc]

I looked on Experian and its not even on there since other day and its not been 6 years and on equiax it says settled by welcome and all payments are late no default on any, it says on Equifax all payments 6 from date of loan and then settled.yes it has just been purchased from cabot recently.

[BRIGADIER2JCS]

Definitely been sold on, watch out for the debt purchaser placing their data quite soon.

[alydoc]

so my question is can they place a default as welcome never?what should I do?

[renegadeimp]

Only the original creditor can place the default. The only time a purchaser can is if there is a clause in the original T&C's that allow them to ( there very rarely is, but hardly anyone challenges them on it).

[BRIGADIER2JCS]

so my question is can they place a default as welcome never?what should I do?

 

As said I suspect Welcome will default just prior to the actual debt purchase, this is a regular feature at present.

[renegadeimp]

Surely that can be challenged as it is unfair due to the amount of time that has passed?

[BRIGADIER2JCS]

It can be challenged I have helped others get the default date changed to the date of the primary cause of action, BUT until we know what actually happens here we are unable to challenge the situation.

[The Mould]

so my question is can they place a default as welcome never?what should I do?

 

You need to look at what I said about your own conditions regarding any settlement in full and final with any of your creditors.

 

Kind regards

 

The Mould

[BRIGADIER2JCS]

Don't worry about the default until you see what has actually been done, as said Welcome are in the habit of defaulting immediately prior to transferring accounts to debt purchasers, if Cabot place a default now it is an easy challenge and if Welcome place a late default that to is straight forward.

I will help you challenge this when needed.

[The Mould]

so my question is can they place a default as welcome never?what should I do?

 

 

What were the conditions of settlement with the original creditor?

 

Kind regards

 

The Mould

[dx100uk]

90% of welcome debts are PENALTY charges & compulsory insurances

 

all can be reclaimed

 

I've moved your thread to the welcome finance forum

 

have a read of a few threads here.

 

dx

[The Mould]

http://www.bailii.org/ew/cases/EWHC/QB/2013/2180.html

The above authority confirms that parties to a settlement agreementhad better make the terms of such clear and unequivocal so as to avoid disappointmentor frustration as regards entering into and concluding settlements intended tobe in full and final.

Kind regards

The Mould

[The Mould]

“Dear X,

 

We areemailing you in regards to the settlement of your account above.

 

We are pleasedto confirm we will accept £2085.00 as full and final settlement, to be paid nolater than 31st August 2013.

 

Once receivedand cleared on our system, we will report to the relevant Credit ReferenceBureaux to advise them that this account has a zero balance and is partiallysettled with us. Please be advised this may take up to six weeks.

 

We trust thisis sufficient for your records.

 

Yourssincerely,

 

CabotFinancial

 

0845 0700116”

In respect of the above, the first sentence stated therein is contradictedby the second sentence therein.

That is why I advise people to counter offer a settlement infull and final on their terms only;i.e. “ Thank you for your letter dated (state date of letter) which I enclosea copy herewith for ease of reference. I confirm that I respond to the sameherein. Whilst I am pleased that youalso wish to resolve this matter that has been in dispute between us for thelast (state period of time), with respect I do not agree to your terms tosettle this matter by way of full and final settlement payment of the sumclaimed by you and pursuant to your conditions, therefore, I am willing tooffer you £xyx in full and final settlement against the amount you claim I oweunder account No. (state account No.) which I do not accept liability for, ifyou are willing to accept the sum of (state sum) in full and final settlementof this account as my counter offer in full and final settlement to your letterdated (state date of letter – enclosed), a third party, namely my father,father-in-law, uncle (or whoever the third party is) is willing to pay £xyz infull and final settlement of the above-stated account on the further conditionsthat if accepted, you will make an entry against all three credit referencefiles that this account to show that this account has been settled, the balanceowing thereon is zero and that the account is closed.

Inrespect of the foregoing conditions, if you would kindly confirm in writingyour acceptance of the same by return, I confirm that the third party chequepayment made out in full and final pursuant to the above paragraph will be sentto you within 14 days of your written acceptance of the same.

Yoursfaithfully

(Yourname)

PrintedCapitals underneath

Kind regards

The Mould

[dx100uk]

gotta admit

 

they do mark debts settled and remove all neg data

 

when pressed

 

got it done with robbersway twice in the last few months for a neighbour i'm helping.

 

dx

[alydoc]

UPDATE:

 

Hi guys, thought id update you,

 

I sent welcome the 10 pound postal order and letter on 31/8/13

and received a letter back saying they acknowledged payment and are dealing with my request.

 

Cabot:

 

So I sent these guys a 1 pound postal and letter on 9/9/13 still not replied a

nd weirdly iv not had one phone call from them?

 

is this normal procedure.

 

What are your thoughts?