Full and Final Settlement

gems3286

Hi,

Was wondering if anyone has had any luck in getting reuced full and final settlements?

I am being let some money from a friend to pay of some debts and the working it out to pay each debt copmanys the way CCCS told me too.

Thing is when working it out some of the companys will only get about 25% of what i owe them does this sound like a amout they would take?

Any help would be great.

InDeepDebt

I'm new to this lark but how many creditors do you have?

Can you afford to offer Full and Finals to some and keep up payments on others?

Not sure if this is allowed but could you offer a higher F & F to less creditors and keep the others on? I've heard that some people start at a low figure (higher than 25% though) and give that creditor a time period (three weeks) to reply and accept or make a counter offer. If they don't, move onto another creditor.

G

gems3286

thank you for your reply.

I have six debts company that i need to pay off.

Some are as little as £500.00 upto £6000.00

I wouldn't be able to keep up payments with the other debt companys so wanting to offer what i can while i am being let this money.

gem

Numpty_Monkey

The thing is to offer what you can afford
Don't go making offers to everyone if they all say yes could you afford it?
and do it in writing use the template leter from here
http://www.nationaldebtline.co.uk/england_wales/debt_advice.php
(Sample letters)

You could start at 30% you've nothing to lose:o and make the offer latter in the month;)