Settlement Offers for DCA's

Diana_Prince

Hi all!

I have debt with 3 debt collection agencies:

Eversheds - Who are a complete nightmare!! Luckily this debt should be cleared by the new year!

ARC - Just over £3000

Moorcroft - £1100

Anyone ever offered these companies a settlement offer? If so what could I offer thats likely to get accepted?!

Thanks

mcjordi

try and offer 30% thats what they tend to buy em in at

Diana_Prince

30%?! Does that ever work?!

dancingfairy

well start at 30% then be prepared maybe to offer more if they don't accept - worse they can do is say no. Make sure it is for full and final payment though -not just so they can hassle you for more later on.
df

GeorgeUK

If you do a search on "full and final" on the board you should see a few threads where people have made offers. I believe the nationaldebtline has some template letters for this.

Never send payment unless you have written confirmation of the amount and that it is a full and final settlement rather than a partial settlement. I would say the maximum to offer if it is not with the original creditor is about 50%. Make sure they are aware that the offer is for a limited time only and that the money is coming from a 3rd party which is why you are not currently paying more right now.

Diana_Prince

Thank you! I have just downloaded the template!! Really want my debt cleared (who doesn't?!) by September if not sooner as I'm thinking of going to University!!

stapeley

They very rarely will put full and final on a credit report .After all it is not full settlement. You have to be careful .