Full and Final Settlment figure

willy111

Hi.
I have a dilemma.
I am on a DMP with Payplan which is going nicely,but i recieved a letter from one of my creditors-Aktiv Kapital this week if i wanted to pay £2600 of the outstanding £5200 balance and they would write off the rest.
I rung them and advised them i couldn't afford that just at the moment,but maybe able to in a few months.
The adviser said i could spread the payment over 3 months which sounded even better.
The question is,do you think if i offered them say 40% of the balance they would accept?
Most of these debt collection companies seem flexible,and i cleared another balance before xmas paying less than 50% of the balance.

lindann_2

Apart from the other creditors would not be pleased, if they found out! I know all creditors will sort of try get extra payments, because you got no proof of this 3 month deal only on a telephone call; would they put this in writing,. also if you can afford to offer them extra, why not send it to all creditors paying in pro-rata; then your dmp would be finished lot quicker. Also would it be classed as part settled, which means you offered less than the sum owed on your credit file..What works for you, weigh up all then do what best for you..good luck