Full and final settlement help thread

Lifeisforliving19

I have made a counter offer to W*sc*t. I originally offered 20%, they said 30% and I went back with 25%. They now say that before they can consider this, they need to know if I have made any other offers to any other creditor? At this moment in time, we haven't, however, C*b*t have just written to us with an offer. What is the best thing to say to W*sc*t to get them to agree?

fatbelly

Lifeisforliving19 wrote: »

I have made a counter offer to W*sc*t. I originally offered 20%, they said 30% and I went back with 25%. They now say that before they can consider this, they need to know if I have made any other offers to any other creditor? At this moment in time, we haven't, however, C*b*t have just written to us with an offer. What is the best thing to say to W*sc*t to get them to agree?

I guess they want to hear that you're offering all your creditors 25%, and getting acceptances.

Lifeisforliving19

fatbelly wrote: »

I guess they want to hear that you're offering all your creditors 25%, and getting acceptances.

Really? Oh well, we may have to stick at 30% then in that case as we haven't. Can't afford to offer them all at once.

fatbelly

Lifeisforliving19 wrote: »

Really? Oh well, we may have to stick at 30% then in that case as we haven't. Can't afford to offer them all at once.

They're not going to accept all at once.

You said you offered PR* 25%.

Just tell W*sc*t you're offering everyone 25% and would they like to accept that because you can't go any higher.

January2015

I'm not accepting it, but just for keeping people informed we had an out of the blue offer today from M'croft, acting on behalf of Arr@w. They offered to settle almost £14k debt for 50% reduction at almost £7k. We haven't contacted them for months and have been paying token payments for a long while now.

Lifeisforliving19

fatbelly wrote: »

They're not going to accept all at once.

You said you offered PR* 25%.

Just tell W*sc*t you're offering everyone 25% and would they like to accept that because you can't go any higher.

Yes, we offered PR* but they came back saying they could only accept about 80%....so leaving them on the back burner at the moment

[Deleted User]

On DMP with Stepchange. Original debt 60k and now down to 5k. In the next few weeks I will be getting an insurance settlement from an accident and should get between 3-4k which we want to pay towards the remaining balance. One of our biggest creditors surprised us a couple of weeks ago by offering £500 discount in our debt with them.

Am I right in thinking Stepchange will only allow you to do full and final settlement if all your creditors agree? If we were to end the DMP with Stepchange and do it ourselves could we negotiate full and final payments with those who would play ball and those who wouldn't we'd have to pay in full? Just wondering if we could do that.

Undecided about whether to go for full and final settlement as obviously we're so near to satisfying our creditors in full, but any advice would be gratefully received.

Richard_Collier

Any advice I'd appreciate please?


I am currently on Universal Credit, I'm on the minimum income floor
having had £700 removed from my benefits 9 months ago as
I'm Self Employed.

I'm renting so my income (which fluctuates) is basically keeping a
roof above my head.

My debts are

Cap One £1600 defaulted Aug'12 / CCJ issued April 13th 2013.
Managed by Lowell since June'14 of which I've paid £7.50
per month without default.

I wrote for a settlement in February'19 they've offered a 25% discount.
***
Barclaycard £2600 defaulted Aug'12
Managed by Robinson Way who I've paid £7 since June'14 without default.

I've asked for a settlement (provided my current circumstances)
and they have requested by email I call them to prove my identity.
***
Lloyds Bank £7000 defaulted Aug'12
Managed by Moorcroft who I've paid £7.50 since June'13

I've asked for a settlement (provided my current circumstances)
and awaiting a response.


Any tips on getting reduced settlements for these accounts?
Is their more success via phonecall to the debtor rather than letter?

Would you recommend I make a CCA request for each account?

As my CCJ expires next week, is my debt still enforceable by Moorcroft?
Bear in mind I've been paying them since June'13 so I've accepted the
debt and liability.

I got into an awful mess by ignoring the letters and not talking to
people until it's too late. My wish is for anyone in a similar position
to not make my mistake.

Thank you

fatbelly

Civic18 wrote: »

On DMP with Stepchange. Original debt 60k and now down to 5k. In the next few weeks I will be getting an insurance settlement from an accident and should get between 3-4k which we want to pay towards the remaining balance. One of our biggest creditors surprised us a couple of weeks ago by offering £500 discount in our debt with them.

Am I right in thinking Stepchange will only allow you to do full and final settlement if all your creditors agree? If we were to end the DMP with Stepchange and do it ourselves could we negotiate full and final payments with those who would play ball and those who wouldn't we'd have to pay in full? Just wondering if we could do that.

Undecided about whether to go for full and final settlement as obviously we're so near to satisfying our creditors in full, but any advice would be gratefully received.

You've got the opportunity to put this matter to bed and probably still have some of the lump sum left over.

Definitely do F&F. Definitely do it yourself.

fatbelly

Richard_Collier wrote: »

Any advice I'd appreciate please?

You can do a cca at any time - I assume Lloyds is a credit card and not an overdraft.

ccjs do not expire just because they drop off your credit report.

You have £11200 debt and are paying £22 per month. How much lump sum are you sitting on? I'd want to see 3-4k for a f&f strategy. If less than 1k I'd be looking at a dro.