DMP and Full and Final offers

boobylou_2

We have been on a DMP with CCCS for 3 years and paid off a third of our debts so far at £600 per month. (35000 in total left to pay over 5 years) We have been offered the opportunity from a family member to clear the remaider of our debts, but only on the condition that it is full and final and we come off our DMP. What happens if we make offers to our creditors (some of which are still originals and have not been passed on the agencies) and some get accepted and some dont. We dont know how this would work

MusicalLawyer

When doing Full and Final Settlements, explain to them that its money from a relative on the understanding that it's a full and final settlement of the account - that way they know the money isn't yours.

Just send all your creditors letters, going in at 25%, and then if they accept - pay. If they don't they should send a counter offer. Then you can keep writing them counter offers. If they just won't budge and you're not prepared to pay what they want you to pay - continue with your DMP. Though you'd have to amend it.

System

boobylou wrote: »

We have been on a DMP with CCCS for 3 years and paid off a third of our debts so far at £600 per month. (35000 in total left to pay over 5 years) We have been offered the opportunity from a family member to clear the remaider of our debts, but only on the condition that it is full and final and we come off our DMP. What happens if we make offers to our creditors (some of which are still originals and have not been passed on the agencies) and some get accepted and some dont. We dont know how this would work

Hi Boobylou and welcome to the forum.

As you’re already a client of ours I would recommend you give us a call.

We can give full advice about full and final settlements tailored to your situation.

I hope this helps.

Kind regards,

Mat