final settlement offers

keithboy40

do final settlement offers work. i have £10000 and £37000 debt. has anybody experience with final settlement offers. do you still get hassled as with dmp's.

how much should i offer.
debts are
13500 loan
7000 loan
9000 credit card
4000 loan
3500 loan

newmum1

I would think that you should offer what you can afford to pay, but bear in mind they dont have to accept and could well say they want the full amount outstanding. Can you afford to pay the full amounts??

CLAPTON

can you give full information about the debts

are you currently paying the normal (contractual) monthly payments.
if not provide full details of when how much ect

nomoneytoday

They will ask for as much as they think you can pay.

Toto

To be honest I think you would be very lucky to clear 37.5 k with 10k but there is no harm in trying I guess. If they don't accept which they probably won't I would personally try to settle the highest APR debts with the 10 k and continue paying monthly on the rest (assuming of course you are currently in a payment plan). A bit more info on the debts would be helpful, how old are they, how long have you been in default.. are you in default? who owns the debt now, original lender or DCA.