Will a debt management company arrange a settlement?

keentobuy

Hi everyone

Just looking for some advice.

I've been using a debt management company and have arranged payments for all my debts. This has helped me get my finances under control.

I've had a letter from Capital One, one of the companies I owe money to. They're asking me or my debt management company to get in touch to arrange an increased payment plan or a settlement.

I'm getting a bonus from work in a month or so, and I'd like to use it to pay off a few debts.

The one I have with Capital One is for £2,000.

What I want to know is, will my debt management company be happy to liaise with Capital One to arrange a settlement? I can afford to pay 25%.

Just wondered if anyone had any experience of this.

Thanks

Emmzi

As a forewarning, 25% seems very very low to me. 50-65% is more likely to suceed :-(

Anything smaller you could get shot of?

Don't be pressurised into upping payments if you can't afford it.

keentobuy

Thanks. I thought I would start by offering 25% - I could afford to pay 50-65%. Unfortunately this is the smallest of my debts, so thought I would start with this one

CLAPTON

which DM company are you using?

most respectible companies will only deal with F&F settlements if they are being offered to all creditors equally so you may be best doing your own thing here.

keentobuy

Lewis Alexander.

Problem is - I don't have the money to settle all my debts. I might be able to settle this one and another