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Final demand letter - what happens next?
Comments
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If I went in at 35% that would be £428. Is that taking the p*** ?
Write to them tell them you have a family member willing to pay this debt off, all they have is £400.00 as a F&F settlement.
If they refuse, write again increasing your offer, but never exceed your maximum and on this letter inform them the offer is only open for the next 10 days.
Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
Thanks 10past6 - I have downloaded the template F&F letter from the ND website which just says "I can raise £xxxx and wish to offer this......". Do you think it's better to say a family member is paying it off for me, or won't it make a bit of difference to them? I think £400 is a good opening gambit. If they don't accept it, won't they expect me to use the £400 to put towards the debt though?
Actually, I think I have just answered my own question.....if it's a gift then it must be used for the express purpose of SETTLING the loan, wheras if I can raise it then it's my money and therefore their money? Do you agree?YOUR = belonging to you (your coat); YOU'RE = you are (I hope you're ok)
really....it's not hard to understand :T0 -
I agree with you, say the money is a gift, but it's to be used to clear an O/S debt.
They have NO reason to know if you have come into money or not.
Keep it simple.
Don't be surprised if they refuse your first offer, increase the next offer by £25.00.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
Thanks and now I'll stop taking up your time. Will keep you posted. BTW, how many letters are usual to send before it starts getting silly? If they keep refusing should I just give in or increase it by £25 each time. Who ends the negotiations usually?YOUR = belonging to you (your coat); YOU'RE = you are (I hope you're ok)
really....it's not hard to understand :T0 -
No worries, only when you're clear with everything.Thanks and now I'll stop taking up your time.?Will keep you posted?
I'd say 3 offersBTW, how many letters are usual to send before it starts getting silly? ?
After 3 letters, if they're still refusing, give upIf they keep refusing should I just give in or increase it by £25 each time.?
You do, otherwise, you';d spend more on postageWho ends the negotiations usually?
This is a tug of war, they want the most out of you, you want to give the least
Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0
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