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full and final settlement offer
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15% is probably a bit low and if the sums say 30% is doable, then perhaps offering 25% in the first instance is an option.
Writing a big long letter detailing everything is not going to achieve anything and possibly be less effective that just sticking to the more important factors.
I suggest writing up a statement of affairs to send with the letter so that they can see the full picture of your income, expenditure and debts. If you include on this your business debts then they will be able to see the bottom line quite clearly. This SOA calculator is quite handy.
http://www.makesenseofcards.com/soacalc.html
Have a look at some of the letters from the national debtline site for language which may canvey the fact that your finances do not look likely to improve in the near future and that CCCS has advised bankruptcy.
http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6
In the letter i would make them aware that a family member has for a limited time offerred funds and which you are offerring to all your creditors in a "FULL AND FINAL" settlement offer of 25% (or whatever) before looking further at bankruptcy.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
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Second paragraph has a bit missing "situation to do, ".
Possibly a few too many howevers too, but then i'm a bit picky like that
Any news from CAB or national debtline?
I would advise enclosing a list (and referring to it in the letter) of all your debts as well as your current income/expenditure. I would adjust the 3rd para slightly to indicate that this is a limited time offer from the family.
4th paragraph - worth expanding slightly to show you have looked into what this entails and that you have been advised from a recognised debt advisor to pursue bankruptcy.
Hopefully we'll get some feedback from members who have sent letters who can advise what they put.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
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Looks ok to me.
"to do so" - 2nd paraAfter falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110
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