Full and final settlement help thread

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
2.9K replies 1.6M views
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  • HalfwaythereHalfwaythere Forumite
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    Omg they bare face lied to you! Unbelievable.
    yes 20% isn’t great but I thought in my position as a first offer from them and them being notoriously tight it wasn’t a bad start For link. Counter offered £2800 and said I have a week etc 
  • fatbellyfatbelly Forumite
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    Got a response from Link re my settlement offer of approx £2090 for £8152 and offered me 

    £6,525.32 


    20% discount


     

     

    You're halfway there.
    Can you afford to suggest you meet them at 40%? I mean 40p in the £
  • HalfwaythereHalfwaythere Forumite
    87 Posts
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    fatbelly said:
    Got a response from Link re my settlement offer of approx £2090 for £8152 and offered me 

    £6,525.32 


    20% discount


     

     

    You're halfway there.
    Can you afford to suggest you meet them at 40%? I mean 40p in the £
    Yes and I would love to get them down to that this offer I have given them is 35%. Going to keep going them would love a success with Link 
  • HalfwaythereHalfwaythere Forumite
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    Update I offered £2800 and link responded with a 25% discount. 5% improvement. Told them I can’t pay above £3000 and have been advised to apply for a DRO
  • kelslayerkelslayer Forumite
    15 Posts
    10 Posts First Anniversary
    Hi , 
    Looking for some advice. I just spoke to Cabot to see if I could get a F&F amount.  And the best she said they could do was 30%, has anyone had anything lower?  Ideally I would like a 70% discount, am I dreaming?
    I have 3 accounts with them
    £3737
    £419
    £1374
    Total £5530
    All defaulted late 2015 early 2016.  I am paying them through Stepchange at the moment.  She said the 30% would never change.  only that the amount would go down the further along my dmp goes through.  My partner has some funds he would gift me.  but it wasn't as high as the £3871 she was offering.

    Thank you kindly.
  • bennyhill_2bennyhill_2 Forumite
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    kelslayer said:
    Hi , 
    Looking for some advice. I just spoke to Cabot to see if I could get a F&F amount.  And the best she said they could do was 30%, has anyone had anything lower?  Ideally I would like a 70% discount, am I dreaming?
    I have 3 accounts with them
    £3737
    £419
    £1374
    Total £5530
    All defaulted late 2015 early 2016.  I am paying them through Stepchange at the moment.  She said the 30% would never change.  only that the amount would go down the further along my dmp goes through.  My partner has some funds he would gift me.  but it wasn't as high as the £3871 she was offering.

    Thank you kindly.
    It will change over time... Cabot recently wrote to me about several a/c's they hold against me (all more than 12 years past default date, none being paid currently, none enforceable, none past statute date yet) offering 75% off each. Another DCA (Wescot) recently advised that Cabot were trying hard to recoup old debts by offering large discounts.
    Probably just a case of waiting for you, currently.
  • kelslayerkelslayer Forumite
    15 Posts
    10 Posts First Anniversary
    kelslayer said:
    Hi , 
    Looking for some advice. I just spoke to Cabot to see if I could get a F&F amount.  And the best she said they could do was 30%, has anyone had anything lower?  Ideally I would like a 70% discount, am I dreaming?
    I have 3 accounts with them
    £3737
    £419
    £1374
    Total £5530
    All defaulted late 2015 early 2016.  I am paying them through Stepchange at the moment.  She said the 30% would never change.  only that the amount would go down the further along my dmp goes through.  My partner has some funds he would gift me.  but it wasn't as high as the £3871 she was offering.

    Thank you kindly.
    It will change over time... Cabot recently wrote to me about several a/c's they hold against me (all more than 12 years past default date, none being paid currently, none enforceable, none past statute date yet) offering 75% off each. Another DCA (Wescot) recently advised that Cabot were trying hard to recoup old debts by offering large discounts.
    Probably just a case of waiting for you, currently.
    Thank you.  So my dmp finishes in Mar23 which for me is still a long way off.  My worry is that they are happy to keep receiving my monthly dmp, as it is chipping away at the balances so they will never budge.   

    should i reduce my dmp so they arent getting so much? 
  • Clemmie12AClemmie12A Forumite
    13 Posts
    10 Posts First Anniversary
    I am doing this exercise at the moment, Cabot have offered 50%, Lowell agreed 70% on a small balance, and I havent heard from the others yet. I am doing this personally not via stepchange. From my conversation so far it would appear that some are holding out for higher settlement sums if you have so far paying regularly.
    I have decided that if they dont accept my 25 \ 30% offers I will pay a £1 a month via stepchange and hope that next year they realise on that basis it will take years to clear and accept a lump sum


  • edited 6 August 2020 at 5:30PM
    LeeUKLeeUK Forumite
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    edited 6 August 2020 at 5:30PM
    I owe RBS £270. Their collectors, Robinson Way, emailed me a settlement offer for £175. I counter offered £135 but before they will consider it they want to know everything, like all my other debts, what I'm paying to them etc, and where the money is coming from to pay the settlement.

    Is this right? they were happy take £175 no questions asked but now they want know everything because I counter offered.


  • fatbellyfatbelly Forumite
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    I'd probably give them some answers - not necessarily true ones.
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