Full and final settlement help thread

blue_pixie

Thanks so much fatbelly

djewkes

Hi, have been paying into a DMP with step change for the past 2 years after I lost my job, I currently owe 46k and am paying at £100 a month so debt free in 2040 ish, but I am 60 so it's a very long way away.
Have managed to raise some cash (small inheritance) and have just sent offers in to my creditors offering 25% in settlement. I could at a push go up to almost 40% but followed advice on here to start a bit lower....
Any idea what my chances are likely to be? I owe to Barclaycard, Barclays x 2, M & S, Blair Oliver, Creation, Newday and Link financial.
Anyone had any luck with these?

happy_bunny_2

djewkes wrote: »

Hi, have been paying into a DMP with step change for the past 2 years after I lost my job, I currently owe 46k and am paying at £100 a month so debt free in 2040 ish, but I am 60 so it's a very long way away.
Have managed to raise some cash (small inheritance) and have just sent offers in to my creditors offering 25% in settlement. I could at a push go up to almost 40% but followed advice on here to start a bit lower....
Any idea what my chances are likely to be? I owe to Barclaycard, Barclays x 2, M & S, Blair Oliver, Creation, Newday and Link financial.
Anyone had any luck with these?

Better chance with the ones that have been sold on. Blair and link.

glentoran99

happy_bunny wrote: »

Better chance with the ones that have been sold on. Blair and link.

Not always true though my biggest discount was from one still with the original with someone acting for them

glentoran99

djewkes wrote: »

Hi, have been paying into a DMP with step change for the past 2 years after I lost my job, I currently owe 46k and am paying at £100 a month so debt free in 2040 ish, but I am 60 so it's a very long way away.
Have managed to raise some cash (small inheritance) and have just sent offers in to my creditors offering 25% in settlement. I could at a push go up to almost 40% but followed advice on here to start a bit lower....
Any idea what my chances are likely to be? I owe to Barclaycard, Barclays x 2, M & S, Blair Oliver, Creation, Newday and Link financial.
Anyone had any luck with these?

Blair oliver and scott (halifax) wouldnt budge below 70%

happy_bunny_2

djewkes wrote: »

Hi, have been paying into a DMP with step change for the past 2 years after I lost my job, I currently owe 46k and am paying at £100 a month so debt free in 2040 ish, but I am 60 so it's a very long way away.
Have managed to raise some cash (small inheritance) and have just sent offers in to my creditors offering 25% in settlement. I could at a push go up to almost 40% but followed advice on here to start a bit lower....
Any idea what my chances are likely to be? I owe to Barclaycard, Barclays x 2, M & S, Blair Oliver, Creation, Newday and Link financial.
Anyone had any luck with these?

It also depends on the accounts. If any taken out before April 2007, send a CCA request as if they don't have a correct signed original they can't get a CCJ if defended and they are much more likely to settle for less. Especially if you are not paying or paying a really low amount.

djewkes

Will just wait and see for now, they can only say no.

djewkes

Have had replies from 4 so far...
1. Barclays, 14,942, offered 3750......declined
2. RBS, 788, offered 200......declined
3. Barclays, 4,295, offered 1,075, accepted and settled (25%)
4. M&S, 5,639, offered 1,400 declined but asked to ring, agreed 1,600 and settled (28%)
Not heard from the other 4 yet.......but happy to have almost 10k of debt off......

fatbelly

djewkes wrote: »

Have had replies from 4 so far...
1. Barclays, 14,942, offered 3750......declined
2. RBS, 788, offered 200......declined
3. Barclays, 4,295, offered 1,075, accepted and settled (25%)
4. M&S, 5,639, offered 1,400 declined but asked to ring, agreed 1,600 and settled (28%)
Not heard from the other 4 yet.......but happy to have almost 10k of debt off......

You're doing well!

Karen777

wow well done! must feel good! I hadn't even thought about full and finals - wasn't even sure what they were til reading this (sometimes I feel quite quite dense!)

I don't have any money to offer at the moment but do you have to offer them to all your creditors or say if I have a small ish debt is it worth offering a percentage of that one just to try and get rid of it? Then I could try building up some to offer the next smallest etc.... all advice appreciated!