Full and final settlement help thread

ldhme

I've got 7 old debts, 6 of which are unenforceable and stopped paying them due to this a year ago, got a token payment plan going for the other one. They'll all be off my report in January too. What sort of figure is likely. Capquest have reached out to me for one with  50% off.
I'm in no rush, just want draw a line under it at some point next year.

fatbelly

ldhme said:

I've got 7 old debts, 6 of which are unenforceable and stopped paying them due to this a year ago, got a token payment plan going for the other one. They'll all be off my report in January too. What sort of figure is likely. Capquest have reached out to me for one with  50% off.
I'm in no rush, just want draw a line under it at some point next year.

That's their opening offer - 50%. They probably paid 10% for your debt so you should be able to settle for somewhere betwen those two figures.

bennyhill_2

ldhme said:

I've got 7 old debts, 6 of which are unenforceable and stopped paying them due to this a year ago, got a token payment plan going for the other one. They'll all be off my report in January too. What sort of figure is likely. Capquest have reached out to me for one with  50% off.
I'm in no rush, just want draw a line under it at some point next year.

If they're unenforceable make them a completely fictitious amount up but make it look legitimate by doing some calculations - eg: an inheritance to someone else in your family and they've offered to gift you 'x' amount to clear total 'y' amount of debts. Divide x by the total amount you owe 'y', then multiply by the amount owed to each.
Make it clear it's a one time offer and that if they don't accept the money will be used to make offers to the other debts.  

Absinthe_Fairy

Hi all,
Would really appreciate advice!
Been paying Robinson Way £5 a month for a good few years, total owed £890. I offered £100 as F&F (very low, I know!) and they've counter-offered with £667 (which I think works out as 75% of the total debt). The debt is enforceable so no leverage there.
Not sure if it's worth accepting (I don't have the money now, but they've offered me 6 months to get it together so I would have time to save it) or declining, and hoping for a better offer in the future?
Many thanks!

[Deleted User]

Absinthe_Fairy said:

Hi all,
Would really appreciate advice!
Been paying Robinson Way £5 a month for a good few years, total owed £890. I offered £100 as F&F (very low, I know!) and they've counter-offered with £667 (which I think works out as 75% of the total debt). The debt is enforceable so no leverage there.
Not sure if it's worth accepting (I don't have the money now, but they've offered me 6 months to get it together so I would have time to save it) or declining, and hoping for a better offer in the future?
Many thanks!

They offered me 65% F&F, I counter offered 50% and they declined. I then offered £1 a month as a joke and they accepted my payment plan. Robinson Way make no sense at all!

fatbelly

Absinthe_Fairy said:

Hi all,
Would really appreciate advice!
Been paying Robinson Way £5 a month for a good few years, total owed £890. I offered £100 as F&F (very low, I know!) and they've counter-offered with £667 (which I think works out as 75% of the total debt). The debt is enforceable so no leverage there.
Not sure if it's worth accepting (I don't have the money now, but they've offered me 6 months to get it together so I would have time to save it) or declining, and hoping for a better offer in the future?
Many thanks!

Still a bit of a gap between you there. Could you afford any more than £100?

leighjones123

Started my F&F journey this week after being on a SC DMP for years. 

First creditor to respond was Lowells, £1102. Offered 25% (£275). To my shock, this first offer was accepted, accompanied with confirmation of all the usual important points (as per Nat debtline template). 

Next (£431) followed. Rejected my 25% by email... and then rang. Said they couldn’t tell me what they’d accept, they just type in my offer and it’s ‘computer says yes/no’. Built up some rapport with the agent... and started giving figures in 5% increments until it accepted at 50% (£216). Agent was fine with me doing this! Just waiting for it to be confirmed in writing now. 

Success! 2 down, 5 to go... 
After reading lots of posts on here, I’m not looking forward to dealing with IDEM! 

Absinthe_Fairy

fatbelly said:

Absinthe_Fairy said:

Hi all,
Would really appreciate advice!
Been paying Robinson Way £5 a month for a good few years, total owed £890. I offered £100 as F&F (very low, I know!) and they've counter-offered with £667 (which I think works out as 75% of the total debt). The debt is enforceable so no leverage there.
Not sure if it's worth accepting (I don't have the money now, but they've offered me 6 months to get it together so I would have time to save it) or declining, and hoping for a better offer in the future?
Many thanks!

Still a bit of a gap between you there. Could you afford any more than £100?

I can try offering £250 and see what they say!

fatbelly

OK, don't go above that. You want them to move from £667

leighjones123

Hi all. 

I’m fairly new to this and wondered if anyone can shed some advice. 

I’ve been on a DMP with SC for 7 years. My mum has recently come into some money so she is willing to help me with my debt. I’m currently in the process of making F&F offers & I think I’m going to start self-managing my DMP. 

I’ve made an offer to PRA Group, which is my largest single account. The balance is £3,873.04. Original creditor was Barclaycard. Current DMP payment to them (via SC) is £6.56pm. 

I made my first offer at 25% of the balance (£969), which they’ve rejected. 

They have said that the settlement they would take is £2,517.... so 65% of the balance. 

What would be a wise move now? I was going to go back to try and meet in the middle and counter 45%. Does this seem about right?

I’m struggling with how to word my counter offer... any tips? 

Much appreciated 
Leigh