Full & Finals alternative befor BR?

seh567

I have £16k debt, have been paying a DMP with CCCS for £100 for a couple of months after token payments. I've now become unemployed recently so its been put down to £25 per month. I am seriously now thinking of filing for bankruptcy.

However, from advice from other members I think I will give full & final offers a go just so that I do not regret trying this route before going BR.

I am going in with a 25% offer and will be telling them that my parents will give me £5k only. Should I tell them about my CCCS DMP, unemployment and should I tell them that if they reject this offer I will have no alternative but to file for bankruptcy. Thanks

Charco_2

Yes tell them. Definitely tell them that you were filing for bankruptcy when your parents offered you this instead.

Make sure if they agree that you get it in writing that any monies paid will be in full and final settlement of your debts, and make sure ALL your creditors agree! You dont want to settle with two creditors only to still be left with a third creditor (although obviously you'll still be better off if this was the case!)

Is £5k into £16k debt not closer to 33%?

seh567

Charco wrote: »

Is £5k into £16k debt not closer to 33%?

Yep you are correct. Should I offer 33% or 25%?

Thanks