full and final offers

lindann_2

If l want to pay a full and final offer, with my creditors

I got a debt of under £593.00 Barclay card,

RBS old revolving budject account

£400.00 (possibly interest payments occurred)

how much do we say offer them would it be about 40%.

thanking you

bottleofred

It depends how old the debt is. If it's 1 year old you'd typically expect to pay around 80%, 2 years old 65-75%, 3 years old 55-65%, 4 years old 40-55%, 5 years old 25-30% etc. Make all offers in writing though and don't settle until you have received written confirmation that the agreed amount is as a full and final settlement of the debt.

Deep_In_Debt

Are you in arrears with your debts? Have you been struggling to pay them or regularly missing payments for a while?

Creditors won't normally entertain F&F's unless they can see that you have genuinely been struggling to meet the minimum repayments or on a dmp for some time. If not, then they will expect you to pay the full amount as they will think that you can afford to if you've been meeting your repayments.