Full and final settlement help thread

fermi

In that factsheet - links don left-hand side take you to the other pages.

https://www.nationaldebtline.org/EW/factsheets/Pages/39%20EW%20Credit%20agreements%20-%20getting%20information/Page-04.aspx

Laura2000

Hi, I'd really appreciate some advice please. I moved abroad in 2011 and unfortunately fell behind with my payments due to some financial issues. Now I want to settle my debt but I don't know who my debt is with at the moment. I've requested my credit report from all three agencies, but it doesn't show any information after 2011, I'm guessing this is because I haven't had any addresses in the UK ever since. How can I find out how much and who I owe money to?

dads_albums

Does anyone have any idea what the average Payplan full and final settlement percentage of the total remaining debt is? We're down to 4k in February and are close to being able to settle (however I suspect not close enough...yet).

Don't want to show my cards too early.

Scrabs1

Hi,

I have been in a DMP with Step Change for a number of years and
I am in a position to make some F & F offers to my creditors. Using the National debt line template, it suggests sending details of all offers to each creditor, so that they can see the pro rata payments proposed. Is this the best way forward, or is it best just to treat each creditor individually and make separate offers, if that makes sense?

Also, if some creditors accept, and others refuse, can you pay off some and not others?

Last question, is it best that the payment is made by a third party, i.e the family member who is assisting, rather than receiving the funds from them and making the payment direct?

Many thanks for any assistance.

Verity11

Would also like some advice on the same issues as Scrabs1. x

happy_bunny_2

I would just send the offer to each creditor. See what comes back. If they ask to see what you are offering each one, then decide whether to send it. Once you have all replies, you can decide. Some may not even bother to respond.

If they refuse, tough. You can tell them you will use it yo clear the account and then take the clear ones out of the DMP.

Start low, as if you go in with your max offer and it's refused, no room to negotiate.

I have read its best if paid by a third party.

chewy2015

Hi sorry im very new to all this, to cut a long story short. I need help with my debts, been with Gregory pennington for 4 years now and the debts dont seem to be going down.
I have managed to get a lump sum of money and came off the debt management programme and have sent each debt a full and final settlement offer, provident accepted 50% off. The others apart from Moorcroft who are acting for Natwest refused my first offer of £500, so i sent them a final offer of £600 and they have refused that too, I only owe them £1147 ? they have sent me a form asking for all my incomes outgoings and other debts and what payments etc, i just want to pay these debts off, not give them all my private details. Could anyone suggest what i should do? please. Thanks Karen.:eek:

fatbelly

chewy2015 wrote: »

Hi sorry im very new to all this, to cut a long story short. I need help with my debts, been with Gregory pennington for 4 years now and the debts dont seem to be going down.
I have managed to get a lump sum of money and came off the debt management programme and have sent each debt a full and final settlement offer, provident accepted 50% off. The others apart from Moorcroft who are acting for Natwest refused my first offer of £500, so i sent them a final offer of £600 and they have refused that too, I only owe them £1147 ? they have sent me a form asking for all my incomes outgoings and other debts and what payments etc, i just want to pay these debts off, not give them all my private details. Could anyone suggest what i should do? please. Thanks Karen.:eek:

Hi Karen. You don't have to give them your details, though if you have nothing to hide and it supports your case it might help.

They are playing with you at the moment to see how high they can get you to go. They have refused 52%. Ask them what figure they have in mind and see if you want to meet them halfway. Otherwise just keep telling them that 600 was your final offer.

BertieB1977

I'm in the process of sending the example letter requesting a copy of the credit agreement for some debt that's 11 years old but whereby I have been making token payments so effectively have acknowledged but also thinking of making a F&F offer to the DCA, should I ask for said agreement before I make an offer?

Also is there a template letter anywhere that I can use for making an offer in writing?

Thanks

BertieB1977

Guys - Anyone have any example letters to send to a creditor for a final settlement offer?

Thanks in advance