Full and final settlement help thread

January2015

carbootcrazy wrote: »

raz1988 and fatbelly

I'm very interested in the situation with Robinson Way and will follow developments closely.

I may have misunderstood but I am assuming raz is not on a DMP.

Hi CBC

I may be wrong, but I read from raz's initial post that he/she was on a DMP. Their initial post said....

raz1988 wrote: »

Hello,

I need some advice please i have debt around 17k 6 credit card i am paying small amount to the debt company's

I took from that it was possibly a self managed DMP.

Sorry for butting in - I watch and follow this thread with great interest. As you know I am slowly chipping away at my debts and F&Fs are my goal as well :T

Jan :beer:

[Deleted User]

January2015 wrote: »

Hi CBC

I may be wrong, but I read from raz's initial post that he/she was on a DMP. Their initial post said....



I took from that it was possibly a self managed DMP.

Sorry for butting in - I watch and follow this thread. As you know I am slowly chipping away at my debts and F&Fs are my goal as well :T

Jan :beer:

You're not butting in at all, Jan:rotfl:. Our paths cross in so many places these days;) and, as I hope you know, I'm always grateful for any advice and encouragement that you offer, whatever the subject:T. It's largely thanks to your example that I'm brave enough to even contemplate making F&Fs myself:beer:


I read raz's comment to mean he/she was in some sort of 'arrangement to pay' situation with the creditors, like when things finally get too much and they 'help' by offering their own individual terms over the short term until the situation hopefully improves. I had that with a couple of my creditors immediately prior to my DMP:o.


I suppose in a way that is a self-managed DMP though. I was just thinking more of one via SC or somebody. I assumed any creditors with a DMP arrangement would already be fully aware of other creditors and income and expenditure anyway and shouldn't need to ask again.

raz1988

fatbelly wrote: »

On the second one, yes it may be easier six months down the line. But there's no harm in giving them 'full breakdown of expenditure, breakdown of other debt who and how much i am paying and when i can pay' as long as that justifies your position, and no expenditure is unreasonable, and it doesn't reveal any info they don't already have that might encourage them down the court route.

On the first one, can you go up a bit? Politely offer them a bit more and point out that if they do not accept this offer then the only alternative is £20 payments for 200 months. At least they have moved a bit.

Hi,

I am not on a DMP.

What i did was before i wrote my letter i send them a payment online and said i can only afford to pay this much a month. They rather receive some money or no money I used a template online most of them replied back saying we accept this offer £22/month for £5k debt my 17k debt in total i am paying less than £120 month rather save lump sum and offer F&F and tips replying back the debt company who refused your first offer. I didn't get to personal when i wrote my first F&F offer should i get personal and tell them about my circumstance or not.

fatbelly

raz1988 wrote: »

Hi,

I am not on a DMP.

What i did was before i wrote my letter i send them a payment online and said i can only afford to pay this much a month. They rather receive some money or no money I used a template online most of them replied back saying we accept this offer £22/month for £5k debt my 17k debt in total i am paying less than £120 month rather save lump sum and offer F&F and tips replying back the debt company who refused your first offer. I didn't get to personal when i wrote my first F&F offer should i get personal and tell them about my circumstance or not.

Well it's a sort of payment plan. The point is it will take a long time to repay the debt at that rate.

If, by 'tell them about my circumstance' you mean:

My circumstance has changed my son has been diagnosed with Nephrotic Syndrome which his kidneys are not working as it should. We have to visit the children hospital quite often for check ups and to have blood tests. Due to his illness he needs a lot of care. I will need to cut back my hours at work to look after him also my wife is pregnant and our baby is due soon. This Debt and my son illness is causing us a lot if stress and is stopping us to give him 100% of our attention .

they are probably not going to be very interested - they may not believe it anyway.

What they need to know is 'This is all I can afford', 'if you took court action you would not get any more', 'I do not own property or any assets other than basic household items', 'I have no savings', 'I am on a very low wage' - the sort of factors that would mean the lump sum coming from your friend/relative is actually a good option for them.

So on the second one, maybe give it another six months and on the first one make a slightly better offer with a fuller letter.

Weakmoments

Hi I am waiting for the response from my original offer, but now I'm starting to worry that they will escalate chasing the debt by taking me to court. I am currently on dmp. I was wondering if anyone could advise on this. TIA

[Deleted User]

Weakmoments wrote: »

Hi I am waiting for the response from my original offer, but now I'm starting to worry that they will escalate chasing the debt by taking me to court. I am currently on dmp. I was wondering if anyone could advise on this. TIA

Sorry this is causing you to worry and also sorry that I can't help. I'll be very interested in what other posters tell you though as anxiety of what might happen if I 'rock the boat' has been one of the reasons that I've been very reluctant to try any F&F offers. The other reason was that I didn't have enough money to make an offer with any chance of being accepted:o. I've managed to get a bit saved now and plan to 'go for it' with the smallest one. I think.

January2015

When making F&F's make it clear the money will be coming from a relative and will only be available if the offer is accepted, otherwise all you can afford is to continue with your DMP payments.

That way the DMP boat will not be rocked

Weakmoments

Thanks Cbc ive started with the smallest one first and hope the others don't find out lol it feels like I'm cheating on them.:eek:

Twins

carbootcrazy wrote: »

raz1988 and fatbelly

I'm very interested in the situation with Robinson Way and will follow developments closely.

I'm on a DMP and my credit card debts are defaulted, mostly now 'managed' by other companies. Only one has been 'sold' so far, that's my Tesco debt bought by Hoist and now being collected on their behalf by Robinson Way. As my smallest debt (still around the £3000 mark:eek:) and actually 'sold on' I assume it might be the easiest to negotiate a reasonably low F&F on it. I haven't managed to save up enough to make offers on the others that stand any chance of being accepted:o


I've only had one letter from Hoist to inform me of Robinson Way's involvement so I have had no direct dealings with them. I am about to send off a CCA request but, certainly don't want to have to supply them with any further financial information than they might already have.


Are they a reasonable company to deal with and is the information being requested from raz different from what they might ask for where a DMP is in place please? I may have misunderstood but I am assuming raz is not on a DMP.

Hi carbootcrazy, just wanted you to know that my Tesco debt also got recently passed to Hoist and therefore Robinson Way. I wrote to them this week to ask for the CCA so am waiting to hear. I'd love to be able to offer a F&F but will have to wait and see.

Would be great to know how you get on! :T

sourcrates

Can I just say that all this talk of "rocking the boat" with creditors is just nonsense.

You are just an account number to them, they don't know you, you don't know them, they make business decisions, it matters not if you have made CCA requests or not, you will not be treated any differently, for doing so.

They follow procedures and guidelines as set out in the consumer credit act, they don't throw hissy fits, they don't treat you any different be it Monday morning or Friday afternoon, you are dealing with a business, not an errant teenager.

When people ask "do you think they'll mind ?" Of course they won't mind, they don't care a jot, as they have procedures to deal with all eventualities, please remember that folks !!