Settlement offer with Payplan ..

Options
13567…11

Comments

  • abby1234519
    abby1234519 Posts: 1,961 Forumite
    Options
    another_casualty wrote: »
    Thanks again .
    I will probably send offers( handwritten ) today. Tomorrow at the latest.
    I've just had an offer for Vodafone broadband , and they are now aware of my new rental address as from tomorrow.
    When I send letters to creditors , I assume it's best to use the rental address.
    Or is it best use the address that is still on their records?

    Quite frankly when you write your letters I wouldn't give them any more information than you need to!!

    Even with Santander, they aren't going to hunt you down if you just offer them a set amount. Yes they might go - you've just sold your house but they might not...Why shoot yourself in the foot by offering too much.

    Offer every creditor 30% full and final. Do not tell them where the money has come from.

    Then wait and see what happens.
    Money money money.

    Debt
    Dec 2016: [STRIKE]£25,158.71[/STRIKE] £21,999.99

    #28 Pay off debt in 2017 £3803.55
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    First Anniversary Name Dropper First Post
    Options
    Thanks folks
    Will let you know how much I offered later.
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    First Anniversary Name Dropper First Post
    edited 29 November 2016 at 5:24PM
    Options
    Okay, I made a decision and left my old address on the letters.
    Initially, it will be easier to them to recognise me.
    Any questions, I will tell the truth.

    My offers:
    Nat west £3,255.00
    Pra group £2,850
    Santander cards£352.00
    Santander£4,050
    Barclays:£420 I think. Can't find where I wrote it down

    I did say I could settle within 7 days

    Your thoughts?

    Thanks
  • grunnie
    grunnie Posts: 1,789 Forumite
    Name Dropper Photogenic First Anniversary First Post
    Options
    AC they will reply to your old address thinking you are still there. Have you had your mail redirected as the letters may get delayed in the process . Much better to use your new address.
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    First Anniversary Name Dropper First Post
    Options
    grunnie wrote: »
    AC they will reply to your old address thinking you are still there. Have you had your mail redirected as the letters may get delayed in the process . Much better to use your new address.

    Thanks grunnie

    Post redirected for 6 months to my friends address.
    If any questions arise, I will tell them .
    I could blame it on the stress and illness of late.
    I just want to payoff early, hopefully at a discount be
  • Befree1
    Befree1 Posts: 1 Newbie
    Options
    Can I ask why you don't have to give payplan statements etc., when they request them ?

    Would they not think you have something to hide, perhaps money they are not aware of that could go towards your DMP, only asking as I too am with them and trying to get them to agee a F&F settlement.
    Mine has not been straight forward, and proving a very slow process
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    Options
    Befree1 wrote: »
    I too am with them and trying to get them to agree a F&F settlement.
    Mine has not been straight forward, and proving a very slow process

    Another reason, if one were needed, to do such things yourself.

    You wouldn't let a 3rd party negotiate a price on the new car you wanted to buy would you, so why allow one to negotiate settlement of a debt for you ?

    Stepchange and payplan run DMP`s on behalf of people who are otherwise incapable of doing so, for whatever reason, maybe mental health problems, just not money savvy, or for various other reasons.

    If you have a modicum of common sense, and are willing and able, then you are quite capable of running a debt management plan yourself, and dont need the likes of a debt charity to help you.

    That then gives you the freedom to pay what you like, when you like, and to settle accounts, as and when money allows, thats the beauty of been self managed, your the boss.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    First Anniversary Name Dropper First Post
    edited 10 December 2016 at 8:42PM
    Options
    Okay..one reply so far : p r a group (original client Barclays )
    Current balance £6,718.05
    I offered £2, 850. .. The want £5374.44(80%)

    They sent me a means testing form to fill in .They want to know my other loans etc. So what now ?
    I did think of going back to Payplan and ask them what's the best settlement figure they could get for me and pay that .
    Having said that , I haven't received any other letters from my creditors.
    I cancelled the meeting with them which was set for the 7th December .
    My review is Jan/ Feb .
    Don't know if I should just cat pry on as is, and just put additional amounts in a bit quicker instead??
    It's pointless means testing me imho as I have no job, need to find a place to buy outright and am renting for 6 months .

    Your thoughts ?
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    First Anniversary Name Dropper First Post
    Options
    I offered over 40% . Didn't realise, so not too derisory an offer then
  • another_casualty
    another_casualty Posts: 6,506 Forumite
    First Anniversary Name Dropper First Post
    Options
    Received rejections from all creditors.
    Means tested forms enclosed etc.
    Looks like I'd be better off to ask Payplan to see if they can negotiate something, and see where I go from there.

    I am ill, not working and. I'll but want to pay a fair sum while I still can .

    I'm not far off my annual review with Payplan , but I can't do this means testing anymore. I just want to have done with it .

    If I make an offer with Payplan, can they just take a lump,payment as a full and final settlement and bypass the means testing ?

    Thanks
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards