full and final settlement

helen6

I have received £4000 in a compensation settlement. I have debts amounting to £10,000, a website suggested offering a full and final settlement offer, has this worked for anyone?

Broken_hearted

Yes for a lot of people, there are two ways of doing it.
1 pro rata split of the £4,000 between the creditors
2 Go in with a low offer around 30% and see what they come back with

I use option 2.

fermi

A lot of people here have done it.

Broken hearted recently had a really good offer.

Link: Factsheet | Full & Final Settlement offers

COOKIEWILLOW

So did I, Lloydstsb £11,500 cc debt, they settled for 6k. But it did go to collections and usually if you are up to date with payments, its a no no. good luck

oksanauk

Hi Guys,

Can any of you tell me please if one has to first go into some sort of Informal Arrangement with the cards before asking for F&F settlement? I am only in the beginning on the road to dealing with my debts, so far only called some cards to tell them I am struggling and seeking advise. Some have issued a default notice just now. I want to try and make some settlement offers, but don't know if I have to first show them that I can't afford to pay them the minimum monthly figure first? Please advise..

Oksana

laguna_1

wow thats amazing!!!