offered Ј1443 as f&f settlement on a 6k debt?

A question about : offered Ј1443 as f&f settlement on a 6k debt?

I have Ј5902.95 outstanding on a mint credit card, while I sort out my debt arrangement scheme.

They have sold this on to triton, who called me to say a default had been registered against me but they would accept Ј1435 as a full and final settlement.

Isnt this REALLY low? ive askled for them to send this in writing

It seems to good to be true, I was totally willing to pay all this back but I can get these funds immediately so it would be possible to do this.

What should I look out for?

Best answers:

• Blimey...bite their hand off.
• Before you agree to pay, ask them to ensure any default is removed from your credit file. If they don't there is no incentive to pay anything, as your credit file will show you hadn't cleared off the debt owed and haunt you for the next 6 years regardless.
  All you are really doing is short stopping the letters and phone calls, or it being sold on to someone else who will take even less.
• I paid it faithfully till about 6 months ago, when I just stopped paying. So it's not statute barred.
  Mint defaulted it and sold it to triton a few weeks ago. Can triton remove a default if mint put it on?
  I did genuinely default.in many ways I'm not bothered about it being on there for 6 years. I need to learn how to live without credit.
  So with all that in mind, any further advice???
• Took the card out in around 2004 Ish probably had ppi at some point but wouldn't have been for long, a year absolute max but more likely 6 months
• I don't believe that Triton can remove a default placed on your records by Mint as it's a true record of your credit files. You can try but are unlikelyto be succesful.
  It is a teriffic offer, you rarely see them this low unless they are uneforceable or statute barred. Make sure you are covered with all the correct terms before accepting.
• Send a CCA request as it's likely to be unenforceable. If you have had PPI I would also claim that back first by making a SAR request. This keeps all your options open. PPI with interest is likely to be a significant amount and if you decide not to go down the unenforceability route then you can knock the PPI off claim of the outstanding amount.
• What would the correct terms be? That's what I'm not sure of? If I receive a letter saying "we will accept Ј1435 as full and final settlement" is that enough? I need to ensure the debt is marked as settled in full right? Anything else? I was totally willing to pay this back through my das but that will last 10 years, I guess they think this amount is better than Ј45 a month for 10 years
• Requesting a copy of your credit agreement
  your address]
  [DATE]
  [their address]
  Consumer Credit Act 1974
  Subject access request
  Dear Sir/Madam
  ACCOUNT NUMBER: xxxxxxxxx (or multiple numbers if more than one account)
  The Consumer Credit Act 1974: please refer to for your own reference.
  77 Duty to give information to debtor under fixed -sum credit agreement
  (1) The creditor under a regulated agreement for fixed-sum credit, within the prescribed period after receiving a request in writing to that effect from the debtor and payment of a fee of [Ј1], shall give the debtor a copy of the executed agreement (if any) and of any other document referred to in it, together with a statement signed by or on behalf of the creditor showing, according to the information to which it is practicable for him to refer,—
  (a) the total sum paid under the agreement by the debtor;
  (b) the total sum which has become payable under the agreement by the debtor but remains unpaid, and the various amounts comprised in that total sum, with the date when each became due
  (c) the total sum which is to become payable under the agreement by the debtor, and the various amounts comprised in that total sum, with the date, or mode of determining the date, when each becomes due.
  With regards to the section above can you please supply me with a complete list of transactions and charges relating to my account with your organisation. Alternatively, a complete set of statements for that period will be acceptable.
  Additionally, where there has been any event in my account history over this period which has required manual intervention by any member of your staff, or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention, or other evidence of that manual intervention in relation to my banking business with you.
  If you are unable to supply this data because there has been no such manual intervention, then please be so kind as to confirm this in your response.
  I enclose the statutory fee of Ј1 (postal order serial no: xxxxxxxxxxxxxxx). You have 28 days in which to comply.
  If there is specific information which you require in order to satisfy yourself as to my identity, please let me know by return. However, please note that the above address is the one which you normally use to communicate my private business to me and which you have hitherto found to be acceptable.
  Yours faithfully,
• Full and final template, edit to suit
  Your home address)
  ______________________
  ______________________
  Date:__________________
  To: _____________________
  ________________________
  Dear Sir/Madam
  Without Prejudice
• i recently paid Ј500 to clear Ј6000. but im in a unconventional situation and lost my job due to sickness
• if i pay and clear it can I later reclaim the PPI? that seems a bit cheeky! however i would give anything to get rid of this mess, dont get me wrong this is one of many im dealing with but to get rid of Ј6k for Ј1435 would help massively and be a surprising positive in this blackness i got myself into. If i could still later reclaim the PPI then i could put it towards the other debts.
  thanks everyone for taking the time to reply it really means a lot!
• my other ppi claim was upheld as I was a council employee and had 12 months ill health pay and they had a "no compulsory redundancy" policy at the time.
• That's unusually low. Triton are part of the RBS group, RBS collections. Mint is part of the RBS group also.
  I would follow the advice above, but if a legit offer I'd be tempted to pay it to avoid future grief as its a low offer.
• thanks guys, i didnt know triton were part of RBS
  I have an outstanding claim on front loaded PPI on a loan with a company (Lombard) that RBS took over that they are claiming they have no record of, it was from 1999 and I tried to reclaim it 2 months after paying it when i was made redundant and it didnt pay out due to 90 day policy, anyway I wonder if its to do with that? But thats a totally seperate thing i will be pursuing
  Also I have spent Ј5200 on the card and repaid Ј7400 in total approx to it so maybe its that??? although with interest and charges there is still Ј5900ish outstanding.