09 Mar 2015

A question about : Full and final rejected by wescott

This is the first time I have ever posted something on a forum, so I'll try not to screw it up.

I have been trying to outrun a debt from RBS which was passed on to Wescot for the last 3-4 years now, but I have finally decided to try and be rid of it. I havent communicated with them in any shape or form until last week when I sent a full and final settlement offer. I proposed a one off payment of 39% of the Ј1593.84 total. They didn't go for it. Instead replied with:

We are advised by our client that your settlement proposal is unacceptable. However, providing payment is received within 14 days, our client will accept a partial payment of Ј1115.69 in full and final settlement and you Credit Reference File will be updated accordingly.

Any advise on what my next move should be?

Wescot say they are acting for RBS, so should I go straight to RBS?

Should I write back with a counter offer or ask for a CCA to sort out who owns the debt?

Sorry I am a bit dim about all this, but there are so many posts out there which date back quite far, I don't know what info is up to date and valid.

Any advice would much appreciated.

Cheers

Best answers:

  • So you offered Ј620 which is 39% and they came back with 70% at Ј1115 try 50% as a counter offer and see what they say. Have you asked for proof of your liability for this debt or is that not in dispute.
  • Hey Willing2learn, thanks for getting back to me.
    "Or are you asking whether the debt is owned by Wescot or RBS whilst acknowledging that the debt is yours?"

    I guess I was asking should I find out if the debt is owned by RBS or Wescott? And does that make a difference?
    Too be honest, I don't what a CCA is, I just keep reading posts where people have had their debts written off because of it, and I was hoping that it could be applicable to me.
    I knew I would screw this first post up. Damm it.
    The debt originated from the reoccurring bank charges, which I was trying to get struck off. But when the banks won in court, like an idiot I just left it and tried to ignore it. The original debt was under Ј1000, but has over time escalated to Ј1593.84. I know I have handled this really badly, and now I am just trying to make the best out of a bad situation.
  • Hi Bic,
    Contact RBS and ask them to confirm whether the debt has been assigned to Westcot as you would like to settle the account. (Best to do this in writing).
    It may be that RBS still own the debt but have authorised Westcot to collect. Depending on who is handling the debt you may want to make a further offer of settlement. Important for you to state that any offer accepted by them is not marked on your credit report as "Partial Settlement" and that you require confirmation of this in writing. They may or may not accept this request.
    And you are not "screwing" any posts up. You are asking perfectly reasonable questions.....
  • RBS still own the debt and Wescot are acing as a go-between on it.
    They will get a cut of what gets agreed between you.
    Can you afford 50% - Ј800 in round figures?
    You can phone at this stage to finesse the deal but make sure you get confirmation in writing. They do seem to be using the phrase 'full & final settlement' so that's good.
  • Thank you for all the feed back everyone. I'll try Ј800 and see if they bite. Wish me luck.
  • I don't suppose anyone has any letter templates for re'negotiating a full and final settlement offer?
    I suck at writing formal letters.
  • Just keep it simple.
    I have been contacted by wescot regarding debt..account number etc....
    They have suggested a full and final settlement of ЈЈЈЈ. I can not afford this. But a family member has offered me ЈЈЈ if it clears the debt in full.
    Just keep it simple along those lines. Maybe mention Banruptcy.. If they think your contemplating that they may take less.
  • National Debtline - Factsheet | Full & Final Settlement offers
    The factsheet above gives both advice and guidance. It also includes a template.
    Good luck!
    Edit:
    Quote:
  • Thank you for the additional help. Awesome to see 'willing to learn' quoting from the young ones.
    So, I went back to Wescott with an offer of 50% which they declined, replying by recorded mail with the following statement.
    "We would advise you our clients are unable to accept your settlement proposal but as previously advised they are prepared to accept a partial payment of Ј1115.69 in full and final settlement of your account, the offer to remain open for a further period of ten days. Alternatively, we will accept repayment of the full balance outstanding by installments."
    Any ideas?
    I can't really afford their proposal at the moment. Is it best to offer a small fee per month until the world ends?
    Also, there is a chance I may be emigrating to canada. Does anyone know whether this kind of thing will show up and tarnish a visa application?
  • maybe it would be worth finding out what instalments they'd accept? you could use the lump sum you're offering to pay off the first couple whilst putting some money together for the next ones..etc...? also, you may be able to make a little extra money somewhere along the line to pay if off in full eventually?
    also, i think a partial payment as f&f still shows on your credit record as a default?
    Canada are quite strict about visas and such, so i would've preferred to get it sorted before then, to be honest.
  • Thank you Thrifty Pixie
  • Yep, pay it off in full in installments and learn from this. Running away from debt should never be the solution.
Категория: