My experiences so far of making full and final offers.

karma_police

kirstle99 wrote: »

Hi there i'm sorry to 'hijack' the thread a bit but I understand from the OP that they are not in a DMP? I was told by Payplan that it was not advisable to pay off some debts and not others as the other creditors could get nasty. Is this right? Obviously I am talking from a DMP point of view.

No not in a DMP, so advised by CAB just to take each debt as an individual debt, tell them nothing about circumstances now, just make offers, negotiate and pay. If I were looking to have to make long term payment arrangements, then all creditors would have to be kept up to date with changing SOA and be treated equally.

karma_police

Right it's been a few days/weeks so a bit of an update fr anyone who's interested.
With regard to not making agreements over the phone, I couldn't get Mercers to agree to put the agreed full and final settlements in writing, and they even pushed for exact times that my relative could call to pay, with that in mind and getting absolutely nowhere I felt I had no chance but to take a chance, those two and the A & L (MBNA) CC were all paid the day after my last reply, so far I have rec'd confirmation in writing from Barclays about both of those, have yet to recieve confirmation from A&L.
Last week I spoke to Natwest, they still won't budge, they want 85% minimum apparently, no chance.;)
Today the CAB emailed me, Barclays had been in touch about my loan, we were paying £242 a month and had about 4/5 years left, so would've paid another 14.8K, when asked for a settlement it was over £11K, we offered £5K initially, today they said they would accept £5700, so that's now paid.:j:j:j
That was the biggie, and the one that was causing me the most worry. So pleased it's sorted.
Just Natwest and a £500 ex OD to A & L to agree now.

Ex-Spendaholic

Wow well done, that is very inspiring. :beer:

Good luck with the other 2.

SolicitorMidlands

Well done!! I have been negotiating for a family member and have about 3k left. Aktiv Kapital accepted about 40 per cent of the debt and Barclays accepted 50 per cent.

karma_police

Thanks for your comments, to say I'm pleased is an understatement, to date I've sorted just under £20K of debt for under £10K, so on average 50%. Some a bit more, some a bit less, but o average 50%. I guess it just shows how these companies have had to accept the result of some of their actions.

SolicitorMidlands

You have done so well. What is your experience with bank overdrafts and settling those?

karma_police

SolicitorMidlands wrote: »

You have done so well. What is your experience with bank overdrafts and settling those?

The Barclays OD we had was in the region of 1800, they settled for 50% bang on.

averageguy11

Karma did u get that confirmation letter from MBNA?

karma_police

averageguy11 wrote: »

Karma did u get that confirmation letter from MBNA?

Funnily(?)enough that's he one confirmation letter I have yet to receive, however I they were the on;y creditor who contacted me accepting my offer, stating F&F, and I have proof of payment. Perhaps I should chase it.

averageguy11

I'm interested as I have just made an offer to MBNA...still awaiting a reply though.