Full and final settlement help thread

trying-very-trying

It never rains but it pours! Apparently my local council has been notified that I now have the money. I phoned said council today who said that the fact I can't even bank the cheque yet, doesn't matter. As far as they are concerned I have the funds therefore my HB and care package need to be paid for in full. I don't even get to try and negotiate with my creditors. If I don't pay the full amount now, I won't have the money when any settlement is agreed. I know that if I have the money I should pay, but what about time to pay off my creditors before the money is gone?
I'll try the CAB tomorrow, but apparently there is a 6week wait for an appointment. Local council will have spent most of what little I've got.
Oh and I can't bank the cheque because I'm with cahoot and I'm waiting for a pay in book to arrive.

sickasachip13

Hi,

I made a settlement offer to Moorgate - I did an online message to them and then spoke to them by phone and asked for their decision by letter - and they've knocked me back. I offered £1800 on a £4800 debt (originally it was an £8k debt) but rather than coming back with a counter offer, they just said no. Has anyone negotiated with them successfully after just getting a 'no'?

Cheers SAAC

happy_bunny_2

sickasachip13 wrote: »

Hi,

I made a settlement offer to Moorgate - I did an online message to them and then spoke to them by phone and asked for their decision by letter - and they've knocked me back. I offered £1800 on a £4800 debt (originally it was an £8k debt) but rather than coming back with a counter offer, they just said no. Has anyone negotiated with them successfully after just getting a 'no'?

Cheers SAAC

How much you paying a month?

They wouldn't entertain a settlement from me til I stopped paying and they passed the account to Wescott to collect. Then got a 25% discount.

sickasachip13

Hi Happy Bunny,

Thanks for the info - I'm obviously being too generous with them as I'm paying £64 pm. However, this payment will be going down imminently....

When you stopped paying them and they passed the debt to Westcott - did they try to play hardball first? Threatening court/ phoning a lot / threatening to send people round etc? And how long did it take them to decide to pass it to Westcott?

Cheers, SAAC :j

happy_bunny_2

Passed to Wescott within a couple of months.

They never really sent me anything after stopping paying.

I'd CCAd them a few times, a few complaints about threatening to send someone round. That was before stopping paying.

They don't gave my phone number...

HB

Robster100

Hello, not sure if I am posting correctly but here goes............!
I currently have gad to close my business, due to several different reasons, including 2 of my customers going into liquidation.
I currently have been burying my head in the sand but now feel ready to start making things right.
I have several supplier debts, ranging from £300 to £ 5000 totalling around £11,000 and Barclays loan £3500 and a business overdraft of £6000. In total around £25000.
Some of the suppliers gave passed the debt onto a collection agency, I am a skilled negotiator so attempting to offer the 0.05p in the pound, do you think it's too low an offer to settle?

Stewart_78

Robster100 wrote: »

Hello, not sure if I am posting correctly but here goes............!
I currently have gad to close my business, due to several different reasons, including 2 of my customers going into liquidation.
I currently have been burying my head in the sand but now feel ready to start making things right.
I have several supplier debts, ranging from £300 to £ 5000 totalling around £11,000 and Barclays loan £3500 and a business overdraft of £6000. In total around £25000.
Some of the suppliers gave passed the debt onto a collection agency, I am a skilled negotiator so attempting to offer the 0.05p in the pound, do you think it's too low an offer to settle?

Was the business limited or sole trader?

Robster100

I am a sole trader unfortunately

dobbollah

Sorry to jump in.....using the national debt helpline letter it suggests you insert a liitle piece to explain how you got the money etc

is there a tried and tested better way to word this.....or does the company look at the figure and say yes/no regardless of your blah

happy_bunny_2

dobbollah wrote: »

Sorry to jump in.....using the national debt helpline letter it suggests you insert a liitle piece to explain how you got the money etc

is there a tried and tested better way to word this.....or does the company look at the figure and say yes/no regardless of your blah

Better if it comes from a third party, e.g family member.

More legally binding apparently.

Also you don't have a pile of cash that they can suddenly start chasing aggressively.