Your thoughts about full and final settlement

sing2trees83

Evening all,

We are currently in a DMP with CCCS and have seen the letter templates and details about if we came into a lump sum of money - then making a full and final settlement offer to the creditors.

Has anyone done this? And if so - what were your experiences? What % did you offer / have accepted and are some companies / types of creditors more likely to accept or decline?

Thanks in advance!

lvm

I owe £95.11 to Arrow Global...offered then a 20% settlement...they came back offering 80%. I turned them down.

Equidebt - I owe £2.7k, they phoned me and offered 50% straight away. I declined and have written offering £500, yet to receive a response. Will let you know when I get one.

It all depends on if your debts are with DCA, how long you are going to be repaying through DMP etc...