Full and final settlement help thread

sourcrates

GreenCat80 said:

fatbelly said

You've suggested 35%, they say 70%. If you can go to 50% you might be in with a chance.

If you genuinely can't increase your offer, I'd leave it for now and try again in 6 months. 

Thanks fatbelly. There is genuinely nothing else in the pot to offer them. I’m gutted because I need to pay off these 3 debts so I can then get a mortgage to buy my ex out so he leaves 😭

I think I’m going to fill in the SOA they sent to show there is nothing extra for repayments and tell them I will keep the 35% offer on the table for 30 days. I’ve been paying the £1 per month for 12 years, I thought they’d be happier to be rid of me 😳

12 years ??

Have you CCA`d them at all ???

GreenCat80

sourcrates said: 

12 years ??

Have you CCA`d them at all ???

😬 no, is that where I ask if the debt is enforceable? 

sourcrates

GreenCat80 said:

sourcrates said: 

12 years ??

Have you CCA`d them at all ???

😬 no, is that where I ask if the debt is enforceable? 

Yes, under sec 78 CCA, its a "must do thing" before you make settlement offers, ideally anyway.

Knowing the enforceability or otherwise of a debt, can provide leverage sometimes for a creditor to accept your settlement offer.

Of course it doesn't always make a difference, it does depend on the creditor, but 12 years is a long time in debt management, if they can`t provide what they are supposed too, you can just walk away.

GreenCat80

Cabot have come back with a 50% offer. Is this really the lowest they will go without doing the CCA thing? 

“Whilst I appreciate your increased offers these are too low for me to accept. I do apologise for any disappointment caused.

The lowest offers I can accept are the offers already made”

fatbelly

I did say earlier 'If you can go to 50% you might be in with a chance'

They're going to be reluctant to go lower. They expected you to be able to go up to that after your initial offer. 

Sounds like your next move is a cca request

GreenCat80

fatbelly said:

I did say earlier 'If you can go to 50% you might be in with a chance'

They're going to be reluctant to go lower. They expected you to be able to go up to that after your initial offer. 

Sounds like your next move is a cca request

You called it 😊 I don’t think I have time to go down the Cca route, my ex is expecting me to get him his money before the spring so I need to clear this up for my mortgage application asap 😣

DFW_ASAP

Hi guys just wanted some advice.
I have multiple accounts with Moorcroft.

Recently they offered me a settlement on 2 Intrum accounts @ 20% of the balance. The balances are around 6.5k each so 13k in total. 

I countered @ 11% which Moorcroft said they would propose to the client (Intrum)

They have now got back to me with a letter saying thanks for your offer of X amount. We can't accept and the lowest we can offer is Y. Which was now 35% of the balance. 

I reckon they've not even checked properly and just come back with a higher counter.

Do u think it's worth me accepting the 20% or keep pushing for a lower amount 

fatbelly

Well, 20% is a good settlement if you are sure these are your debts and are enforceable

GreenCat80

I’ve just had confirmation from Cabot that they have closed the accounts of my two biggest debts 🥳 I initially sent them a letter with my first offer of 35%, they wrote back offering 70%, then I went to email and we finally agreed on 50% (I tried several times to get them lower, they were not budging) thanks for the support on here ☺️ 

I’ve got at least one more debt (plus possibly 2 more, I can’t find them) the one I know about has been sold/moved on again so I sent the new creditor a message through their website with a low offer, I think just before xmas, but I haven’t heard back yet. I’ll give them a few more days and then follow up again I think 

DFW_ASAP

fatbelly said:

Well, 20% is a good settlement if you are sure these are your debts and are enforceable

Hi fatbelly. Thanks for your response. Im assuming they are enforceable as the original debts were only from 3 years ago. 

Would you suggest to still ask for CCA or wait until a longer period has elapsed and they potential delete/misplace them