Full and final settlement help thread

mrsjolie

Thanks to all for the advice. A letter has gone in the post tonight so fingers crossed they will accept the offer (25%)

Rjhsteel

Did anyone get asked for a expenditure plan when you contacted them about settling the debt?

redux

Lifeisforliving19 wrote: »

We have always told them that a relative is giving us the money to help settle our debts. Certainly don't want to tell them we are saving a little F&F stash.

carbootcrazy wrote: »

Yes, I thing the good old family member reason is the recommended one;)

A slightly vague phrase such as family money being made available is no lie even if you're the source yourself - you're a member of your own family after all.

[Deleted User]

mrsjolie wrote: »

Thanks to all for the advice. A letter has gone in the post tonight so fingers crossed they will accept the offer (25%)

Good Luck:beer:


Don't forget to let us know how your offer fared. It's always useful info for others wanting to make offers.


My 'best' ones settled at 30% payable and I was delighted with that. I did try 25% but they weren't biting at that:(

drusilla

Hi
I hope someone can help.
I have paying off a number of debts via Step Change. I am down to my final debt. I have just received a letter telling me that my RBS debt has been sold to PRA.
Debt on their letter is £2746 but on my Step Change it is currently £3700.

Default is more than 6 years and no longer on credit file as I understand it.

Anyway, I think that I can manage to get enough to do a F & F but not quite sure what to offer and how to go about it. Letter or email?
Your advice would be greatly appreciated.

Willing2Learn

Hi drusilla,

Always go with a letter and start with a low offer, as it is the end of the financial year and the DCAs will be eager to clear the account from their books. Maybe submit a CCA request first as the debt is quite old...

Rjhsteel

Sorry to ask again, but did anyone get asked for a expenditure plan when you contacted them about settling the debt?

Willing2Learn

Rjhsteel wrote: »

Sorry to ask again, but did anyone get asked for a expenditure plan when you contacted them about settling the debt?

Hello again

I never got asked for evidence of expenditure with my offers.

This is what DebtCamel says about it. They actually suggest sending your I & E with an F &F, plus any extra supporting evidence.
https://debtcamel.co.uk/full-final-settlement-rejected/

Rjhsteel

Willing2Learn wrote: »

Hello again

I never got asked for evidence of expenditure with my offers.

This is what DebtCamel says about it. They actually suggest sending your I & E with an F &F, plus any extra supporting evidence.
https://debtcamel.co.uk/full-final-settlement-rejected/

Thanks

But if its a sudden set amount of money, why would i need to send in a I&E statement? Its a one time offer.

Willing2Learn

Just make sure that when you complete your I & E it shows that you have no money left over after all bills, expenses and repayments. If they are asking where you got the lumpsum from, then I suggest you simply say something like a family member has lent you some money