A possible breakthrough with creditor?

kel123_2

I cannot believe I am arguing with Mylordfermi - please forgive me

Yes I agree fermi but the balance is in hesence written off and therefore could be open for some DCA to chance there arm. Good advice about getting a proffeessional opinion.

I really think I should learn to trust Banks and DCA's but my brain will not let me!

Kel

Runnybabbit

kel123 wrote: »

I cannot believe I am arguing with Mylordfermi - please forgive me

Yes I agree fermi but the balance is in hesence written off and therefore could be open for some DCA to chance there arm. Good advice about getting a proffeessional opinion.

I really think I should learn to trust Banks and DCA's but my brain will not let me!

Kel

OK, email typed and sent. Just have to wait until Monday hopefully for a reply.

Kel, I think we all think like that sometimes, let's face it, our confidence can be shot to pieces some days.

loopylu36

Hi

Can i ask how much your debt to Hsbc is and how much they are settling for? The reason I ask is that i was reading your earlier thread on full and final settlements and was about to start a new thread asking about success stories. I have found a lot posts and advice about how and what to offer ect, but not a lot of results in terms of how successful people may have been.

I have recently been offered about 30% of my o/s debt by my dad to offer as full and final settlements to my creditors. The other option is leaning toward bankruptcy (and due to house prices, creditors would get far less, if anything, down this path) I've started a DMP but lost my job recently tho and haven't found another one. My job was connected with the housing market and quite well paid and the chances of getting similar job/pay are slim, so DMP is going to be up the swanny soon anyway.

fermi

kel123 wrote: »

Yes I agree fermi but the balance is in hesence written off and therefore could be open for some DCA to chance there arm. Good advice about getting a proffeessional opinion.

I really think I should learn to trust Banks and DCA's but my brain will not let me!

I think that if they accept in FULL and FINAL settlement, then that can be taken that your obligations regarding the debt have been discharged in FULL. So the creditor agrees that there is no outstanding balance to sell.

And FINAL implies that no further action (including the sale) should be possible.

Otherwise, the phrase is meaningless.

How to mark a credit file is a separate issue regarding fairly indicating the manner of the settlement to others who may see the file.

But I agree, a professional opinion is best.

Argue with me all you like.

Runnybabbit

loopylu36 wrote: »

Hi

Can i ask how much your debt to Hsbc is and how much they are settling for? The reason I ask is that i was reading your earlier thread on full and final settlements and was about to start a new thread asking about success stories. I have found a lot posts and advice about how and what to offer ect, but not a lot of results in terms of how successful people may have been.

I have recently been offered about 30% of my o/s debt by my dad to offer as full and final settlements to my creditors. The other option is leaning toward bankruptcy (and due to house prices, creditors would get far less, if anything, down this path) I've started a DMP but lost my job recently tho and haven't found another one. My job was connected with the housing market and quite well paid and the chances of getting similar job/pay are slim, so DMP is going to be up the swanny soon anyway.

Hi Loopylou,

OK, here goes, £16k :eek: :eek: :eek: :eek: ,

I offered £8k, which my FIL :A offered me.

I too have been reading your threads, but believe me, the advice and support I have had here is ... well ..... :T :T :T :T . Can't thank em enough really. I so hope things go well for you hun and good luck.

Runnybabbit

Well I've had a reply today and YES it seems that all is well and good. :j

Final DOES mean FINAL and that they cannot sell on the debt to someone else :j :j .

So as of today, I can say that one of my creditors has accepted my offer as a FULL AND FINAL OFFER. Yipee .............. .

As you can see I am feeling rather pleased with myself. Thanks to everyone who has helped me through this saga, xxxxxx Babbit

fermi

That's great news Babbit. :T:T:T

LilacPixie

Yay babbit. :T :T

Runnybabbit

fermi wrote: »

That's great news Babbit. :T:T:T

I knew you'd be pleased - or did you secretly know this anyway .xxx

Gemmzie

Congratulations Runnybabbit