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Full and final settlement on credit cards

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  • Full and final settlement on credit cards

    Hi all
    Hope you are all doing ok during this festive season.
    Nice to see everyone helping eachother out here.

    I have had an IVA, and full and final settlement rejected through a third party company.

    I am now contacting my creditors individually to offer full and final settlements, and 2 of the 5 creditors (4 accounts in total for both) have accepted my settlement figure, at 50% of each debt. The total sum has been raised by friends and family.

    Unfortunately, the next one on my target list, MarblesHFC BANK, have rejected a £1000 offer of £2000 debt. I have been told that as of 1st December HFC Bank are not accepting any full and final settlements whatsoever. They have refused any kind of payment from me. When I explained that they can either get this amount or nothing they told me that I have to wait for a letter to come in the post that will tell me what someone in my position must do.

    Has anyone else heard of this or are they pulling a fast one?

    Also one of the creditors who accepted my full and final settlement over the phone would not put the agreement in writing (after my spouse paid 50% of the debt by debit card on the phone) but they requested that I contact them by letter to request the recording of the conversation.

    Again has anyone heard of this?

    Thanks for your help in advance
    Merry Christmas
    Alan.

  • #2
    Re: Full and final settlement on credit cards

    Seems rather odd indeed.
    It could well be a precursor to something else, possibly passing to a DCA for action.

    It'll be interesting to see what their letter says.

    Comment


    • #3
      Re: Full and final settlement on credit cards

      Thanks CurlyBen.
      Have you heard anything about having to request a recording of a telephone conversation?
      Mercers on behalf of BCard assured me ( ) the telephone conversation had been recorded?
      Thanks
      Alan.

      Comment


      • #4
        Re: Full and final settlement on credit cards

        Mercers are a pain and make things up as they go along.
        Quite typical really.

        IF you did request the tape it would either cost £10 under a SAR request, but either way, I'm willing to bet they can't find it.
        Now wouldn't that be handy.

        This is one of the main reasons we always advise dealing with these "people" in writing only.

        Comment


        • #5
          Re: Full and final settlement on credit cards

          Thanks CB,
          only problem is they said they received my original letter with my f&f offer but said that they wouldnt be replying to it
          so i dont have any choice but to call them to get things moving. If they dont supply the recording (I have full name and time we spoke to the person) what would you recommend I do, seeing as I have paid already
          thanks
          A

          Comment


          • #6
            Re: Full and final settlement on credit cards

            I have moved your thread to the debts Section

            Comment

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