Offered Natwest F&F. Triton sent me a 'partial settlement' offer

CBI

Sent Natwest an F&F offer last week of £2200 for a £7300 outstanding figure.

Got a letter last night from Triton Credit Services on behalf of Natest/RBS saying they couldn't accept that offer.

Instead they'd accept £6500 or the £2200 as a lump sum and then carry on making my monthly payments the same. If I took the £6500 offer it would go down as 'partially settled' on my account.

Any thoughts/advice as it seems my negotiation attempts havn't even got out the gate. I'm on a DMP with them through the CCCS, which has been running for about 3 years.

lindann_2

I think Triton has bit of a cheek, they willing to accept extra payment, but still carry on paying for the debt. It would not be classed as part payment even if you think it should be; they view it as reducing the debt only..
l thought it would be not quite right to the rule's of dmps if you got few debts, you cannot give more to one creditors not the other creditors; everything should be pro-rata. I am not sure what you can do, but l just carry on payments through cccs, If you are worried by credit rating, its going to be 6 years from any defaults etc, good luck

Tixy

Is £2200 the most you can afford to offer?
Are you making offers to all creditors or just to them?

How long have you been on the DMP? what is the predicted repayment term if you stick with the DMP at current contributions?

At a guess you could probably get a slightly improved settlement offer out of triton, if you can afford to and are willing to pay it.
But I doubt you'd get it to the 30% sort of level unless they thought either there was a real chance of bankruptcy/you dropping to just token payments or unless you just happened to catch them when they were about to sell your debt on to a third party debt collector.

CBI

Offers have been made to all creditors. Been on the DMP for around 3 years with about 4 remaining at the current rate.

Being made redundant, and offered some money by a relative to pay off my creditors rather than go bankrupt / token payments. 30% is the value worked out for all creditors based on how much the relative could afford.

Only way I could afford more would be to milk them or sell kidney as I have no real assets (only a car worth £2k which I need for work, and is currently at a garage as it's not starting).

DS4215

Have you tried telling Triton that you are being made redundant and from x date your payments will be a token level of £1 per month. It might sharpen their thinking....

CBI

Yeah I used the F&F template letter from National Debt Line and mentioned I was being made redundant at the end of this month and if they didn't accept my offer I have to start making token payments until I could find new employment