full final settlemnt

morgan78_2

ok after doing all cca requests i have now sent off offers to

Apex 8000
apex 2200
cl finance 13000
cabot 6000
mint 1800
capital one 700
tesco 2200


offered themall 20% of the total thought would start low, been on a dmp for 2 years paying £115.00 a month

so ill keep you all informed as any of u had any dealing with full & finals with these companies, if so let me know how u get on

swimityswim

Could I hijack a little? I was going to post a thread regarding full and final settlements!

I'm going offer !!!!!! to my debtors, but wanted to check first whether anyone knew whether they were actually debt collection agencies, or in house collectors? I was thinking of offering 25% of the debt to the debt collectors and 50% of the debt to the in house collectors (or do you think I should just offer 25% to all of them to start with?) I'm not going to offer them a !!!!!! all at once...but one at a time spread over the year. I'm not on a dmp or anything, just had arrangements with each debtor and paid off a sum each month. So my debtors are:

DG Solictors: debt is £800 what was a HSBC loan. I'm sure Ive read on here that they are an in house collection team, anyone know?
Apex Credit Management: debt is £2500 was a Natwest Current Acc.
Fredrickson, I actually think this has gone to another co that sound like a solicitor (will have to dig out the letter): £1435 was my partners Natwest CA.

Any help greatly appreciated! I had no idea I could offer as low as 25% to dca...I'm very excited about the prospect of getting rid of these debts :j

swimityswim

Bumping in case anyone has any tips or advice? I would love to get one !!!!!! letter off today!

morgan78_2

ok had my first letter back from CL finance who rejected offer and said they could settle with £2000 knocked off making it £11000 which no way can i afford so just woundering what i should do next

rog2

swimityswim wrote: »

Could I hijack a little? I was going to post a thread regarding full and final settlements!

Before making any 'Full and Final Settlement Offers' please make sure that you read the following NDL link - there are some really useful template letters that you can use, too:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

Please, also, make sure that your creditors/dca's confirm, in writing, that they will accept your offer in 'Full and Final Settlement' before you make any payment.

Do NOT accept ANY other wording.

Good luck. :beer:

rog2

morgan78 wrote: »

ok had my first letter back from CL finance who rejected offer and said they could settle with £2000 knocked off making it £11000 which no way can i afford so just woundering what i should do next

You need to be persistent, morgan.

Tell them that your offer is the maximum that you can afford to pay.

Tell them that this 'offer' is dependent on funds offered by a relative/friend providing that you conclude the matter within xx days (suggest 14). Tell them that if they do not accept your offer within this timeframe, then the funds will no longer be available and your offer will be withdrawn.

Then see what they say.

lxpeanut

swimityswim wrote: »

Apex Credit Management: debt is £2500 was a Natwest Current Acc.

These are defiantly a DCA rather than in house.

Good luck to both of you.

Deep_In_Debt

It's easier to negotiate low F&F's with DCA's than with the original creditors. DCAs buy the debts for peanuts - literally - pennies in the £. Most OC's will accept nothing less than 70% whereas DCAs will accept about 30% and that's a massive profit for them!

Make sure you get the offer in writing before paying any money. National Debtline letter is a good one to use.

morgan78_2

ok mint and tesco sent exactly the same letter saying no carry on making dmp payments

Apex have said no but contact within 7 days to discuss another offer or else they may instruct there solicitors

morgan78_2

any ideas what to do now just carry on and try agin in a few months

thanks