Full ans Final?

feature59

Hello all,

Writing my letter to try and get a full and final offer.

I have amongst others got a debt with lloyds for £2200. I have had no contact with any of the debt companies but I have had letters from Moorcroft, Robinson Way and now Westcot.

They recently sent a letter with an settlement offer of £1100 (50%) so Im looking to respond and try and get a settlement.

The question I have is that in the letter I am offering initially £400 but willing to go above that to the 50%.

My question is that im not on a bad wage and I now have £500 free each month, so I can offer £250 to them each month.

I know that this will possibly put them off the offer, can I just send an offer and not attach an SOA? or should I just send what I can offer and see what happens. It would be an amazing help if I could get a settlement on 50% or less.

Again any help greatly appreciated.

Many Thanks

bargainbetty

You don't have to include the SOA on a F&F offer. Just send the counter offer and see what happens. Save the money up to do lump sums - if they think you can pay £200 per month, they are going to ask you to carry on paying £200 per month! Use the negotiation time to save the money up.

Tell them that you have been offered the money, but it is contingent on it being used to settle a debt in full. No more info than that is necessary.

Good luck

sickasachip13

Just to echo what Betty said above and to say that's it's probably not wise to let on that you could find more money. This is a sort of haggling process. Don't show your hand too early. And, personally, I would say that I'd been given/loaned only that sum that is being offered, by a family member solely to pay off a debt.

SAAC

PS. I've successfully done two F&Fs and both settled for less than 30% of what was owed.

feature59

Thanks!

Sent the letter this morning recorded delivery so I will see what happens and if I have any sucess I will let you know.

Its with Westcot so ive got my battle armour on!!