Recieved a letter from my creditors.

CLAPTON

the art of negotiating is NOT to want a quick resolution...your choice of course but wanting a particular answer is the way to lose...sorry thats the way it is...dont panic... take your time you have nothing to lose...a week or two ...whats the difference.
you say you dont want to be bullied ...but that is EXACTLY what you are giving into ..they rely on you being stressed

my advice about speaking to then is DONT, wait nothing to lose.
your choice in the end ...,

Beaded_Lady

EllieB wrote:

Don't forget you are in the negotiation game - look at from MCS's point of view - you have offered them a lump sum and they are obviously going to try and find out if there is any more on offer. Did you tell them where the lump sum was coming from? For example if a family member has offered you an amount to pay them all off and you only have a fixed amount it is worth telling them this. It is a commercial decision for them, and other considerations are how old the debt is, and what other options they have, which depend on your circumstances. If you are renting and on benefit they are more likely to accept than if you are worlking and/or a home owner. It is in any event worth pointing out that if they refuse the alternative is to pay instalments over the next xxx number of years. Have a maximum amount in mind and don't offer them more than this. If they refuse you could always continue with instalment payments and try again in a year or so....

In the letter I stated:

A relative is prepared to offer me £***. I want to offer this sum as an ex-gratia payment, in full and final settlement of the account. The offer from my relative will not be available forever and my relative will not make the payment unless the offer is accepted

so for this reason I want it sorted as it will seem a blag otherwise, as well as causing stress, I am prepared to pay £1,200 but ideally not more than £1,100 and will not rise above this figure. Otherwise I am paying this off at a little over £100 per month.

BrandNewDay

Do it in writing. Don't call them on the phone because nothing they say on the phone will be legally binding and they're just going to try and make you do what they want.

Xbigman

I wouldn't call them either, but if you have made up your mind to do so then good luck. However, do not pay anything until you have the details of the settlement in writing. You would not be the first person to agree a figure on the phone, pay it and then be asked for more.
Regards



X

Molanole

I would strongly advise against calling them. I've no experience myself but there are far too many posts on here about people calling Debt Collection Agencies and getting abuse of all kinds, being told incorrect information so that the agency can tie them up in a knot, forcing information out of you as they bully you and what's more there will be no proof of the phone call ever. 1) you won't be able to quote back to them something that they offered on the phone, and 2) if you ever had to make a complaint about them, they can simply deny ever saying anything to you.

Always deal with them in writing, that's my advice

Beaded_Lady

Molanole wrote:

I would strongly advise against calling them. I've no experience myself but there are far too many posts on here about people calling Debt Collection Agencies and getting abuse of all kinds, being told incorrect information so that the agency can tie them up in a knot, forcing information out of you as they bully you and what's more there will be no proof of the phone call ever. 1) you won't be able to quote back to them something that they offered on the phone, and 2) if you ever had to make a complaint about them, they can simply deny ever saying anything to you.

Always deal with them in writing, that's my advice

Thanks for the last few comments, I will now write a letter and learn to live with a little more worry, fingers crossed whatever i send them works.

Beaded_Lady

I have drafted a letter to the collection agency, which is shown below:

In reply to your letters dated 27th June 2006 on the above accounts which requested I make an increased offer as settlement, due to my first being declined by your clients.

I would like to explain that I have been offered £1,000 by a relative to settle the above accounts, but this will only be available for a limited time, if this amount is not acceptable can you please ask your clients to suggest a ‘more appropriate’ settlement figure.

As my resources are limited, if an agreed settlement figure cannot be reached the alternative will be resuming with my monthly instalments on the above accounts for around 16 months.

I look forward to receiving your reply.

Does anybody have any advice or tips on possible changes I could make, or would this be ok to send?

milliejon

Hi Beaded Lady. I hope you're OK today.

I would make a few amendments (but they're only picky and a matter of personal style) otherwise the letter is great:

In reply to your letters dated 27th June 2006 on the above accounts which requested I make an increased offer as settlement, due to my first being declined by your clients.

I would like to explain that I have been offered £1,000 by a relative to settle the above accounts, but this will only be available for a limited time. [STRIKE], i[/STRIKE] If this amount is not acceptable [STRIKE]can [/STRIKE]could you please ask your clients to suggest a [STRIKE]‘[/STRIKE]more appropriate[STRIKE]’[/STRIKE] settlement figure.

As my resources are limited, if an agreed settlement figure cannot be reached, the alternative will be to continue [STRIKE]resuming [/STRIKE]with [STRIKE]my [/STRIKE]monthly instalments on the above accounts for around 16 months.

I look forward to receiving your reply.

I hope this helps.

Beaded_Lady

milliejon, thanks for the help, I have made the suggested changes and posted this off today. Now just hope i get a speedy and positive reply, as I want to be debt free within 2-3 months.

milliejon

No problem. I'm glad I could help. Fingers crossed about the reply.