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Help please on a F & F Settlement

ceecee31
ceecee31 Posts: 58 Forumite
edited 18 July 2011 at 4:38PM in Debt-free wannabe
Hello everyone
Can anyone please tell me what they think is a reasonable F & F settlement figure on a CC debt of £1500. The company have offered 20% off i.e. pay back £1200, but I would have thought I could get more than this?
Can anyone help? Thanks a lot
Always remember, every cloud has a silver lining:rotfl:

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    What is the situation with the debt? who owns it creditor, inhouse collector or third party collector? does it have a default registered against it? how much are you currently repaying a month?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • ceecee31
    ceecee31 Posts: 58 Forumite
    Thanks. It's an old B of S Preference account, which is now with Blair Oliver & Scott, who I believe are in-house collectors for Bank of Scotland. Currently paying £25 pm, interest frozen.
    Always remember, every cloud has a silver lining:rotfl:
  • ceecee31
    ceecee31 Posts: 58 Forumite
    Just bumping this - anyone help?
    Always remember, every cloud has a silver lining:rotfl:
  • sarah1111
    sarah1111 Posts: 61 Forumite
    Shy Bairns get no sweets.........put in a lower offer and see what they say. Some have offered 25% and been accepted, whats the worst that can happen...they say no right?
  • Tixy
    Tixy Posts: 31,455 Forumite
    50% would be a good settlement with in house collectors.
    Maybe you could write back and first offer just over a third of the balance and see what they say. If they won't accept then you could maybe negotiate and increase your offer a little.
    Do you know to get it all in writing before you make your payment? have you got a template letter? if not http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • FredWhispers
    FredWhispers Posts: 85 Forumite
    I would offer 50% and see what they say. If they say no, state that is all you can raise and request a monthly arrangement.
  • ceecee31
    ceecee31 Posts: 58 Forumite
    That's been really helpful, thanks so much everyone.
    Always remember, every cloud has a silver lining:rotfl:
This discussion has been closed.
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