What to do now ? Re full and final offers

hedake

Hi everyone,
I am hoping you might be able to offer me some advice?!

I recently called my creditors to see if they would be open to settlement. Just worried that it might of been the wrong thing to do! They all said 75 % straight away including original creditors and DCA.
I plan to make offers in writing but not sure where to start as we can not offer that much! Some money can be made available from a family member.We have at least 12 years projected to complete DMP. As my partners health is not good this may affect his level of employment during this time. I am worried and really hope to resolve our debt issues before we hit further problems!

Please reply if you can offer any constructive advice.

Thank you in advance.

OneLife_OneShot

I would include that as much as you would like to go to 75% you might not have any money available to make any offer for another number of years and this is the most they can get for now they know as the years go on they will have to accept less and less.

ilovelondontown

I've read else where on the boards that this is something you can negotiate. If you punch for a really low % and explain why you need it to be this low, they usally come back with something more realistic for you.

Good luck

hedake

Thankyou for your replies. I was hoping that might be the case. Only not sure what to offer now I know they want such a high percentage ?! Anyone ?

happy_bunny_2

How old are the accounts?

Anything taken out before April 2007 is worth a CCA request, as without it they can't get a CCJ and are likely to accept a lot less.

Try 25 or 30% first off. Explaining that you have limited funds from a family member and ill health etc. also take a look at the national debtline fact sheet.

happy_bunny_2

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

hedake

Thank you, will take your suggestions onboard.