Link Financial & unusually low settlement for Ex Barclaycard debt?

[pb8111]

Good Morning.

 

Hope you are all well and keeping safe.

 

I am paying back a debt through a DMP to Link and I was in a situation to get a settlement fee for an amount which is a small 4 figure sum - i received the following by email

 

Unfortunately we are unable to accept the sum of �0.00 but we would be prepared to accept the sum of �8.98 in settlement of this account. On receipt of cleared funds we will close your account with no further monies owed and update your credit file as partially settled. Payment should be made to Sort Code 40-05-30 Account Number 54192761. Payment should reach our office by 17/04/2020.

 

If I pay them £8.98 have they no legal recourse to come after me for the rest considering its an offer in writing?

 

would appreciate some guidance please

 

Thanks

Pb8111

[BankFodder]

Before you start considering paying this off, I think you should give us a lot more details about the debt.

Who's the creditor
date of debt – type of debt – last payment made
 

[AndyOrch]

And is the debt currently showing on your credit files ?

[pb8111]

Yes

 

Was a 1200 quid Barclaycard CC - been paid back through a DMP with Stepchange, amount owed is under a grand and then  i got the email when requested settlement, to me they have put an offer in writing and i obliged? 

[AndyOrch]

Well it wont improve your credit score as it will still show as partially settled and will remain there until it reaches its 6th anniversary.

 

Also any offer like the above should contain the words " In Full and Final settlement " to make it water tight.We have seen these offers before and the balance sold again and chased by a further DCA.

[fkofilee]

Wait What PC is the 8.98 Settlement of the original balance?

How much is outstanding now. 

 

Bankfodder and Andyorch are right... 

Has COVID19 now caused DCAs to literally scrape the bottom of the barrel for these debts?!?!? LOL!

[pb8111]

Unless its a mistake on their behalf?

[fkofilee]

Could be - But who knows. All you have is the above?

Could be a new trick - To get people to pay £x - Claim it was a mistake and then extends the SB Period. I had that before with someone.

[pb8111]

Yes all I have is that email - I have paid the requested amount and emailed them saying I have accepted the offer, paid the required amount and now look forward to confirmation in writing the account is now settled and see what they say

[fkofilee]

Well good on you for doing that - Its your choice to do it

If its 1% of the whole amount to settle - It would be bonkers not to

 

Still think you should have checked they had a CCA etc and everything was in order. 

 

[pb8111]

Haha thank you

 

My point was more of if they have given me an offer in writing can they claim it was done in error and the debt is still enforceable of does the email now form a contract which has been forfilled? has this ever happened to anyone else?

[fkofilee]

Well they can do as they please... But in reality if it is a mistake on their part - It would be very messy if it got to either Court or FOS / Ombudsman & FCA..

 

Lets see what happens... If they do it then thats cool but you need to check that it is F+F and the balance wont be sold.

[pb8111]

Well ive now took them of the DMP so they wont be getting another penny - see what happens when the letter start 

[dx100uk]

Thread title updated

 

I hope you've sent everyone else you are paying thru your DMP a CCA request?

I notice you've several PDL threads in the past?

are you paying those too?

might be an idea to investigate irresponsible lending complaints too if you are, could be worth £1000's..

 

dx

 

[pb8111]

HI Dx - remember you well from all the help over the years and it was always much appreciated

 

Got on top of the PDL issue and went after them all for irresponsible lending - got about 5k in total back from them all and it would have been more had they all not shirked into Administration - 

 

Down to my last 24k of debt from the original 45k, its been a long road but to be honest I've made sure ive smiled throughout it all.

 

All that's left are 2 loans (alpha credit solutions, CABOT - was ZOPA)  and 3 credit cards (CABOT, WESCOT, LINK) - all paid through SC - 2 capital ones and 1 barclaycards, did CCA and they all returned signed copies of the original agreements.

 

hope your keeping safe

 

 

[fkofilee]

 

Well done

[ericsbrother]

they say it will show as partially settled and that means they are reserving the right to go after the remainder at some point in the future or to sell it on