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Clear my Debts
FestivalsRUS
Posts: 62 Forumite
This is my position. I have been on Incapacity Benefit for the past 2 years. I was self employed and ended up having an operation (No 37) on my shoulder, so I gave up work as I could not type anymore (Plus lots of other things that I could not do) and then I found out I had carpal tunnel in both hands (Which is going to be operated on soon), but in between that I am having my right knee cap removed at the end of September.
So, I know I will be out of action for at least another year with all these ops and recovering. I've also had my left knee cap removed and have severe problems with my legs.
But, my father has suggested to me that even though I have debts of £20,000 I could write to the companies and see if I can pay off the money in full and final settlement.
But is there a procedure you have to go through? I am already paying them £1 a month each as I have done my Income and Expenditure forms and sent them off and they agreed to it.
Or is there a letter than I can copy so that I can send them off to them?
My Father's intention is that he will pay 1% to each of my debtors!!!
So, I know I will be out of action for at least another year with all these ops and recovering. I've also had my left knee cap removed and have severe problems with my legs.
But, my father has suggested to me that even though I have debts of £20,000 I could write to the companies and see if I can pay off the money in full and final settlement.
But is there a procedure you have to go through? I am already paying them £1 a month each as I have done my Income and Expenditure forms and sent them off and they agreed to it.
Or is there a letter than I can copy so that I can send them off to them?
My Father's intention is that he will pay 1% to each of my debtors!!!
0
Comments
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There are letters in the template section I believe on offering f&f settlements or advice on national debtline website. I don't know if they would accept such a low percentage but then again you don't ask you don't get! I would put on the letter that it's money that would be loaned to you and is a very limited time offer (sometimes gives them a push, you never know).0
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Heres the link to the letters
http://www.nationaldebtline.co.uk/england_wales/debt_advice.php
Section 5
Just below the F&F is one asking them to write of your debts due to cicumstances
might be worth a try:DPROUD TO BE DEALING WITH MY DEBT NERD #869
DFD 5/1/16Numpty,Not sure why but I'm crying
. Of all the peeps on this board you're the kindest & most supportive of all & I'm :mad: & 
for you all at the same time . Wish I was there to give you a big :grouphug: & emergency hobnobs
xx0 -
I would speak to one of the debt charities about your circumstances. https://forums.moneysavingexpert.com/discussion/2077631
1% is likely to be too low for any of your creditors/DCAs.
If you don't own any assets then bankruptcy might be a possible option for you. In which case father's £200 might be better spent on the court fees.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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