Advice on Full and Finals Please

Ex-Spendaholic · 19 September 2008 at 11:13AM

I'm on a DMP with CCCS. I have 4 large creditors and 5 small ones. I have a bit of extra cash at the minute so was hoping to wipe off a couple of the small ones. So far though I'm banging my head against a wall. These are the 2 I have tried.

Creditor: Robinson Way (Studio Cards)
Amount Owing: £97
Their Figure: £77
I offered: £40

Creditor: CL Finance (GE Money)
Amount Owing: £463
Their Figure: £443

I phoned both of these. Both of these creditors receive a whopping £5 a month so I thought they may wish to get something from me and close the accounts, I was obviously wrong.

Has anyone got any advice? What should I be realistically offering these people and what is the best way to to about it? I would like to shift these 2 and then move on to the other 3 small creditors. This would free up about £27 a month of my CCCS payment to divide between the big creditors. OK it isn't a fortune but it all helps and it would further motivate me to bring in more money to clear these sooner.

As you can see from their figures there is no real incentive for me to settle, I hope I haven't opened a can of worms though now.

Any help greatly appreciated.

maz1964 · 19 September 2008 at 11:38AM

hiya ex -spendaholic

have you already claimed your charges if you had any to claim in the first place to deduct off the amount still owing?

also have you requested the copies of your credit card agreement or credit agreement from both these ?

have you seen my post for sunshine on our mutual thread where you posted this link?

im also looking at offering full and final and i m on my own dmp so not with any charity but i thought from what ive read, that you would be giving these preferential treatment above the others and not sure if cccs would let you do that?

just my initial thoughts, but will be back laters so can catch up

see what other replies you get, but will subscribe to this thread okay,

keep happy ciao for now laters MAZ

GeorgeUK · 19 September 2008 at 11:41AM

I would write to them rather than phone and make offers of between 30%-50%. This is what's usually offerred to DCA's - for debts still with the original creditor, 50%-70%.

Make it clear that the funds are available for a limited time and make sure they are full and dinal rather than partial settlements.
If they refuse, request copies of your CCA

Ex-Spendaholic · 19 September 2008 at 2:48PM

Thanks to you both. I'm going to get letters in the post today. I'm on the hunt for the template which I'm sure I'll find shortly. In the meantime if anyone has one, please point me in the right direction. :beer:

maz1964 · 19 September 2008 at 4:28PM

hiya i have sent you info on a private message

should say in your unread foldder

letter enclosed too

ciao for now maz

Advice on Full and Finals Please

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