Full and final settlement advice

debtfree_bride

Morning

Ok so in my quest to banish my debt I wrote to Iqor to offer F&F for my lloyds tsb overdraft (5 years old) of £1278. I offered £382 they came back with £639 (50%) and said I have to pay within 14 days.

So, the thing is, I can afford the £382, and can probably boost it up to £500 at the end of the month. Should I counter offer with £500 for the end of the month (over the 14 days)

They state in the letter that the full amount with be payable if I dont pay in 14 days and as a result the will want my income / outgoings etc.

I would just like some advice on what to do

Haylezzmm

Hey there.

Didn't want to read and run so.....

Have you thought about asking them to split the payment over 2 months. Explain that you would like to accept their offer but will only have £500 at the end of this month and would pay the rest next month?

Or £382 this month and the rest next month, whatever works best for you.

I managed to barter a few of my creditors down with settlement offers and a few of the accepted payment over 2 months.

Give it a try.

H x

fatbelly

debtfree_bride wrote: »

Morning

Ok so in my quest to banish my debt I wrote to Iqor to offer F&F for my lloyds tsb overdraft (5 years old) of £1278. I offered £382 they came back with £639 (50%) and said I have to pay within 14 days.

So, the thing is, I can afford the £382, and can probably boost it up to £500 at the end of the month. Should I counter offer with £500 for the end of the month (over the 14 days)

They state in the letter that the full amount with be payable if I dont pay in 14 days and as a result the will want my income / outgoings etc.

I would just like some advice on what to do

Ignore their background noise on paying the full amount. They're willing to deal. You've offered £382. They've said £639. Offer £500 and make it clear it's your final offer.