Debt Collecting Agency

byird

Hi
I am a new member, and would like some advice regarding a situation iam in, my husband was declared bankrupt some 10 yrs ago nearly and has been discharged 5 yrs ago. Unfortunately I am paying a debt that was in both names at that particular time. Anyway they have now wrote to me advising me that if i pay a lump sum the debt will be settled. Iam very keen to do this and are currently in the process of writing and making an offer, but it is only for £2500, thats roughly half of what they wanted as a lum figure. I suspect they will decline this offer. Can anyone advise what to do after if they do decline it. I am very very keen to end this matter.

Thanks

debt23

Hi,

How much is the sum still owing?

All the best

Debt23

byird

Hi

approx £9315

Thanks

CLAPTON

and how much are you currently paying monthly

byird

Hi

currently pay £18 per month

CLAPTON

i would write back and say that unfortunately you can't afford more that the 18 per month but that a relative (friend/whatever) has offered a sum of 2,000 if they would do a F&F settlement. Thats about 10 years worth of payments and they might accept...i'ld say well worth a try.... and if they dont it leaves scope for increasing to 2500.
if they accept , make sure the offer is in writing and absolutely clear that this is in full and final settlement and ask they friend/relative to actually write a cheque to them on your behalf.

debt23

Hi,

Clapton is spot on with the advice - and do make sure you state that its a 'relative' or someone offering to help, not your money otherwise they will chase you for it!!

Most of my settlement figures were 50%, although I did get a 75% reduction from HFC, so go for it.

All the best

Debt23