Full and final offers. Anyone any experience/advice???

Miss_Frankie

Morning Helenm1005

Thanks for your reply, I am eventually going to tell my family and other OH as I can’t keep going on myself, I just feel awful lying especially to my mum she knows something is wrong just not to what extent. Going to wait on reply’s from creditors and see what I can negioate with them, then tell my parents, maybe they can help. All I do is think about my debt, really brings me down but hey I suppose things could be worse just feel so stupid. MBNA are calling me back at 5pm tonight to discuss account so I’ll let you know how I get on. Have you sent your letters yet?

Dylanwing

My experience was a while ago. Bank of Scotland were excellent, bumped up my offer a bit, and I got a decent deal. Unfortunately, I think that the Halifax ethos has kicked in, and all dealings I have ever had with them have been unpleasant (None with regard to debt though). Capital One were absolutely brilliant, got me to fill in a form with all of my financial details and made me a reasonable offer.

saverstacey

For anyone that has agreed full and finals- how long does the offer remain open for?

We are intending to sell our home to clear debts, but I could really do with knowing what my creditors will accept so I know how low an offer we could take on the house? I would hate to lose my home, and still not have enough to settle all my debts. Creditors here are Natwest, Sainsburys Bank, Goldfish CC (HFC bank I think) and Tesco CC.

mo1_2

hi,what did you put in your letter when asking for a settlement?

Miss_Frankie

Thanks Dylanwing, sorry to be nosey but what % of your debt did they except? How long did they take to get back to you? I'm still waiting to hear back.

Miss_Frankie

Hi Saverstacey

I'm not sure how long the offer stays open for I just said in my letter that I could make payment within the next two weeks if they could accept offer. National debt line has good template letters. Goodluck

Miss_Frankie

Hi MO1

I used the template letters off national debt help line website, I added in that I was borrowing each month to pay off debt that I was considering going bankcrupt as I couldn't afford payments. so we'll see.

Miss_Frankie

argh not have much luck with settlement figures, all creditors have refused apart for Horwich Farrelly who excepted 50%. Going to send another letter offering a bit more. anyone any advice?

pikachu

Going through this myself at the mo too
Have 3 defaults (maybe 4), but only 1 with debt management company, Credit Solutions. They offered to settle for 75%. I'm going to try and get it down a bit, but it's for a debt over £10k, so I dont know how that'll go
Barclaycard debt was with Mercer's who agreed to settle for 70%
I offered NatWest and Sainsbury's Bank 65% - NatWest have declined and I haven't heard back from Sainsbury's yet. However I spoke to a very helpful chap at Sainsbury's retail Collections who said that HBOS / Sainsbury's have had a policy of not accepting F&F offers for the last 18 months, but advised it was still perhaps worth sending a letter to make an offer.
I screwed up with Capital One and missed payments from March, making a payment at the beginning of June. Had been making regular payments of £10 up til then. My main argument with Capital One is the distinct lack of statements for over a year. I Like to know where I am with the account and to have a constant reminder. They have point blank refused to send me any statements detailing what I have made in the way of payments and I have only managed to get a letter from them telling me what the outstanding balance is. They told me over the phone they would not accept a F&F offer.

I've now to fill in I&E for Natwest and Capital One and send back, but I don't know where things are supposed to go from here. I could just about manage to pay the full amount outstanding with Capital One, Natwest and SB, but it would leave me very stretched and probably cause me to struggle again.

I hope this info help you a bit, Miss Frankie

Pikachu

helenm1005

Miss_Frankie wrote: »

Morning Helenm1005

Thanks for your reply, I am eventually going to tell my family and other OH as I can’t keep going on myself, I just feel awful lying especially to my mum she knows something is wrong just not to what extent. Going to wait on reply’s from creditors and see what I can negioate with them, then tell my parents, maybe they can help. All I do is think about my debt, really brings me down but hey I suppose things could be worse just feel so stupid. MBNA are calling me back at 5pm tonight to discuss account so I’ll let you know how I get on. Have you sent your letters yet?

Sorry I haven't replied earlier - problems with internet access. Mum was a lot more undestanding than OH so best of luck (mums tend to lose their temper and then still be there for you - no matter what you're still their little gorl and she'll be as proud as you when you get it all sorted out). Letters going out this week offering 25% - how are you getting on?