Just what percentage will they accept ?

property.advert

As a final throw before going BR, I would like to see whether a partial payment would be accepted and if so, just what percentage would I be looking at ?

I don't have an accurate figure on the debts but I guess about 75k on a few credit cards. No payments since 2004 I guess, maybe 2005. No contact since that time either.

I suppose some have been sold on, I just don't know as my ex destroyed all the paperwork.

My feeling is this. If they will accept a fairly small percentage, then I'll maybe get a job and pay them over a year. If they want more, I'll not bother and go BR and then they get nothing.

Now if I were them and I believed me (and I am serious), I'd take pretty much anything over 10% as the alternative is a big fat zero.

Usual types of creditors, main banks and a few tangential ones. All owed over 5k with an average of about 10k each (some with more than one card). Since mergers, even less.

struggler

How did you manage not to pay anything over this time ? Did they not hound you for even a token payment ?
Interested as I an hoping to make an offer of a full and final settlement IVA, but am making token payments in the meantime

paulmx3

if no contact has been made by them or you since possibly 2004 it may be worth holding off on going bankrupt or contacting them as if the term of no contact gets to 6+ years the statute barred avenue may become a possibility.

Charco_2

This is true Paulmx3 but keep watching over your shoulder to see if they are going to chase it into court, which would then stop it going statute barred!

paulmx3

Charco wrote: »

This is true Paulmx3 but keep watching over your shoulder to see if they are going to chase it into court, which would then stop it going statute barred!

yes,but given the options this person has absolutely nothing to lose.as i see it the options are.

hold out,do nothing and hopefully the 6 years will elapse.(jackpot)

get found by creditors before the 6 years and go bankrupt.

i will be hoping you get lucky.....:D

Charco_2

Honestly, Paul, I'm agreeing, i'm just saying be careful.

thewad

How do you manage not to pay anything for 4 years AND get no contact from them???
Sounds like a dream world.

John

struggler

I also asked this question, and no response ?