Debt Company not accepting offer

May

I still owe an amount on an old loan and recently recieved a letter from the debt collection company advising that they had turned down my monthly offer of payment but could offer a settlement figure instead and that i should call to discuss it with them.

I obviously cannot afford to settle in full but even after i offered a monthly payment figure with a statement of means to back it up, i don't understand what i should be doing now.

ANy ideas?

AGB863

They are just trying it on.

Make the same offer again, advising that you would not be able to raise the funds to make a settlement offer (even if it is heavily discounted).

Do you know if the debt has been sold on to the DCA or are they collecting it on behalf of the original creditor, if it is the latter amke the offer of repayment to the original creditor.

amosworks

You know they can't really turn down any offer you make.

keith_lard

debt Collectors rule

ANYTHING IS BETTER THAN NOTHING!!!!


offer 'only' what you can afford!!!

you cant lose doing that!;)

May

Thanks for the advice.

The offer of payment is justified which is why i was shocked by their response.
I shall write another letter to the agency with the same offer. I figure, it's better to make payments than not to make them at all.

Shows willingness to pay doesn't it?

Mrs_Optimist

Don't increase your offer - you will only end up defaulting because you cannot afford any more. If they don't like what you offer - tough - let them to take you to Court - they can't get blood from a stone!

amosworks

If you've made an offer, no matter how small, they won't go to court. The DCA have a duty to avoid legal action and the judge would not be best impressed with them.