Full and finals

MustBeatThis

I have 5 credit card debts, which defaulted last or this year. At present I am not in a position to make more than token payments, and this is what I have been doing. Some have been more amenable than others. Some refused to stop adding interest (and the interest has been eyewatering!), some did stop, the majority have sold the debts on to DCAs.

In a few months' time I will have some money coming to me that won't pay off all the amounts owing but would make big inroads, so I'm wondering how best to use it.

I appreciate that my credit file is shot really so I'm trying to minimise damage (if that is possible). I could take some of the debts and pay these in full - will that help at all? Or I can make F&F to all and try to arrange to pay a % on all of them. (I reckon I could do 40-50%).

I have done CCA requests to them all. I'm almost certain that one is unenforceable, one definitely is enforceable and the others I'm waiting to see. It's the ones I'm waiting on that are the larger debts.

I'm trying to get my head round all this but my question is, is it better to try to do F&Fs on all of the debts or pay some of them in full (and presumably those would be the enforceable ones!).

Many thanks!

GeorgeUK

I would just do F&F's on them all. I can't see that there is anything for you to gain by paying in full. I wouldn't offer F&F's to the unenforcable ones - at least not until everything else had been paid off. Even then it would be a maximum of 10% for those.

MustBeatThis

GeorgeUK wrote: »

I would just do F&F's on them all. I can't see that there is anything for you to gain by paying in full. I wouldn't offer F&F's to the unenforcable ones - at least not until everything else had been paid off. Even then it would be a maximum of 10% for those.

Thanks George that's very helpful.:D