Debt letter that suits? iQor Recovery Ltd on the prowl.

stamina9008

Morning guys and girls, received some hate mail from iQor in regards to a debt from like 3/4 years ago for £768, with Lloyds.
The debt has been through a few DCA's i think, this is the most current one.
They want the outstanding amount but i can only commit to about £50 every fortnight.
I want to approach them with that payment plan offer without submitting my income/expenditure and or bank statements.
I have not yet found a letter template online which doesnt mention enclosure of income/expenditure, also, many of these approach offer templates seem to be referring to a previous installment agreement which the debtor wants to change.

They want the full, i wanna make em an offer in installments and i dont want to submit my income or outgoings.

What are my options?

Thanks

paulmapp8306

They wont consider an installments offer unless you provide yor income/outgoings as proof thats all you can afford.

How much per month was the original debt? if that was less than £100/month you could try offering them the same terms as the original agreement. Im not sure, but I would think theyd have a hard time refusing - and especially if it went to court (why would a court say you had to pay more than the original agreement?).

You dont reall y need a template letter either - this one is fairly straight forward. Just write, include account number, state you do not have the full ammount but can offer to pay the copmplete debt over a 9 month period in monthly installments - so £85/month. TBH if this has been through several DCAs they will jump at that offer - its probably been bought for around £85 anyway.

stamina9008

"You dont reall y need a template letter either - this one is fairly straight forward. Just write, include account number, state you do not have the full ammount but can offer to pay the copmplete debt over a 9 month period in monthly installments - so £85/month. TBH if this has been through several DCAs they will jump at that offer - its probably been bought for around £85 anyway.[/QUOTE]"

So in writing to them, will i need to enclose my income/outgoings?
Or will they ask for that at some point after?

Thanks btw

paulmapp8306

If you dont want to include it - then dont. If they want one to consider the offer they will ask. Usually they do BUT ion your case your offereing substantial % of the debt per month - and it probably represents a fair ammount of proffit for them.

stamina9008

Nice..

Im really starting to like this site!

Have a nice day.

stamina9008

paulmapp8306 wrote: »

If you dont want to include it - then dont. If they want one to consider the offer they will ask. Usually they do BUT ion your case your offereing substantial % of the debt per month - and it probably represents a fair ammount of proffit for them.

Thats great, but you suggest £85pcm as opposed to £50pcm?

Or is 50 ok?

paulmapp8306

You initial post said you could go to £50 per fortnight - so £100/month, which is why I suggeted £85.

Ultimately, they are more concerned with a timeframe, so divide the sum owed by how long you want to pay if over - and offer that. £85 is over 9 months. If you want to pay less, you could offer a 12 month timeframe which would be £65. Thats resonable too.

Make sure you off "to pay the complete debt over XX months, which equates to £xx per month".

stamina9008

Lol, i completely forgot i said fortnight, the monthly thing threw me, sorry.
Late night..
On reflection, and remembering that i said £50 per fortnight (duhhh), i think £85 over 9 months is perfect..
Thanks