Couple of Questions about Full and Finals

Pott5y

Looks good to me! Just make sure that all points are confirmed in any acceptance letter.

If you are not sure about any reply post it up here and I am sure one of these lovely people will give their advise. I did and it was a great help:T

Good luck hope they accept your offer.

hadleigh47

I paid off some of my debts with 30% offer and have heard on this forum you can get them down to 25%
I would say upper limit is 40% perhaps 50%.
Bearing in mind these debts have been sold on to third parties for as little as 4 or 5 pence in the pound, they are not going to lose
MBNA only accept a partial settlement. I paid it off at 30% but rest lies on file for 6 years but they wont pursue it
Do it in writing only
Don't give too much away but be aware that some will push for 90% or full and final settlement.

yellowpinky

Thanks everyone for your help. I have tinkered with the paragraph stating the conditions so it reads as follows -


If this offer is agreeable to you and accepted, please could you confirm in writing that this would be a full and final settlement of the account, and neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released for any liability.



I'm so glad I found this site, I wouldn't have a clue what I was doing with this otherwise! Pott5y, great to see you're getting some results.

I'm hoping they'll come back with a counter-offer this time so I have an idea where to go next. I can go up to 50% and if I settle at that I'll be happy.

yellowpinky

Hi everyone. Well, no joy with Cabot - I sent a 25% offer but have had no reply! It's been a month now so I think it sounds like they're not interested I think maybe it's too early in the process for anyone to be considering F & F's, but I'll plough on and try a couple more. I'm aiming to try my two HSBC accounts next, now they've both gone over to Metropolitan. The question I have though is that M & S is one of my creditors, and I know they are owned by HSBC. There's not really a question of doing an F & F with them as they are by far my biggest creditor and the debt has not been passed on to a DCA, so I would have assumed there'd be a very slim chance of any acceptance of what I've got to offer. Are they going to know if I make offers to HSBC and not them? Thanks again, YP

GeorgeUK

I doubt they will know. The accounts will be kept on a seperate system and the physical files in different locations. I think all you can do right now is keep asking - if they don't like it then they'll let you know, but i doubt it wil lbe a problem.

yellowpinky

Thanks very much for that, GeorgeUK I'll update on how I get on.