Debts & Redundancy

taren

Aiming_High wrote: »

Just a little update, we've done some phoning and got normal settlement figures from most (many of which are a few hundred) the big one - which the figure stood at around £7,000 have said they'll accept £5,000 as full and final settlement and are sending it out in writing! - YEAH!!!

This means we could be well on our way to being debt free!!!

Thats awesome news and great result, I have found like other people replies above that if your up to date they wont accept a F&F. Was any of your debt old?

I spoke to Lloyds CC many times and told them I was going to hit a financial brick wall, but they refused to do anything as I had not defaulted. I have recently had to move my main bank account elsewhere, and remove my overdraft, so that if I do default, they cannot take money from my account that is needed to pay for the important things.

I personally think the government should help or bring in some legislation to help people, who can prove to their lenders things are going to get tougher. And that planning ahead together would help everyone in the long run. sry didnt mean to hijack your post, just wanted to let others know how awkard they can be before you actually default, before they will help.

Aiming_High

taren wrote: »

Thats awesome news and great result, I have found like other people replies above that if your up to date they wont accept a F&F. Was any of your debt old?

I spoke to Lloyds CC many times and told them I was going to hit a financial brick wall, but they refused to do anything as I had not defaulted. I have recently had to move my main bank account elsewhere, and remove my overdraft, so that if I do default, they cannot take money from my account that is needed to pay for the important things.

I personally think the government should help or bring in some legislation to help people, who can prove to their lenders things are going to get tougher. And that planning ahead together would help everyone in the long run. sry didnt mean to hijack your post, just wanted to let others know how awkard they can be before you actually default, before they will help.

No hubby just phoned up and told them straight the situation and how it would be with him out of work. (I've only just upped my hours and was on 20hrs a week), he asked them straight how much they'd accept as a full and final, they said 5,500 and he said round it down to 5 and we've got a deal. - They said yes :T He did have to do the financial statement with them and it was the collections department.

The debt was about 2 years into a 5 year loan.