Full and final settlement help thread

marzom

I am on a DMP and have 40% to offer for full and final settlement. I have already sent out the template letter to my creditors offering 25%. They have all rejected it.

Most of my debts are with the original credit cards. However AIC who are the only non original creditor have come back saying they will accept 50%.

What should I offer next to everyone. 33%, 35%. What do you think and is there a template letter for a second request?

Ta

endoftherainbows

Hi Marzom

Iwould offer 30%, not sure if there is a second offer template.

Best of luck

marzom

Thanks Endoftherainbows.

And thereafter do it in 5% chunks until 40%?

endoftherainbows

I would, but don't be too hasty in replying.

marzom

That's interesting endoftherainbows, why do you say don't be too hasty in replying?

endoftherainbows

Further update

Aktiv Kapital have refused 20% but offered 83% on £3605.54 debt
Iqor have refused 20% but offered 75% on £1788.60 debt
Buchanan Clark & Wells refused 20% but offered 60% on £2150.39

Santander want details of income & expenditure and confirmation of the sources of the funds.

Any comment/advice gratefully received.

Thanks

fermi

What sort of debts were they? And if consumer credit debts, when were the accounts first taken out and have you requested copy agreements etc?

A large proportion of the debts Aktiv chase are statute barred. Could that apply to yours (or even the other 2)?

endoftherainbows

Thanks for replying Fermi, I have previously checked and sadly none of the debts are statute barred.

fermi

Well, what about my other questions?

endoftherainbows

They are credit card debts. And yes, I got copies of credit agreements previously