Help.. I can only see one solution!

dancingfairy

I think it depends on the amount of time you've had the debt, the amount of time you have been making token payments , whether it is with the orignal creditors or not etc.
Have a search on here for settlements or full and final settlements or failing that start a new thread in that vein.
df

mah

Letters went on Thursday and we recieved the first reply today.

HBOS CC. Require us to either start the IVA or a DMP prior to making the offer, and then the offer is to be made by the Debt Management Company.

See what the other say?

mah

Letters back from all the creditors now, all pretty much saying the same thing, Do an IVA or DMP proposal first then make an offer.

So the IVA engagement pack went off this week and they are also looking at a lump sum IVA at the same time.

But since then two of the debts have been sold and i've had two calls asking me to go ahead with the lump sum offer, i've advised them that the initial offer was declined so i've proceeded with the IVA.... The creditors must have sold the debt for less than i had offered them???

Anyway, next week should bring more news.