What happens now.???

its_maths_not_magic

Another option you can consider is to move into a caravan. I have done that and I can't believe how nice it really is. I only have to pay for rent, gas, food, petrol and bills - I dont have to pay for council rates, tv license, electricity etc. Its scary at first, but honestly, I live in a spectacularly beautiful locale, my husband works 7 mins from home, and its a really laid back way of life. Also my housework is pratically zero. All that and I can pack and travel at no more cost than extra petrol. I don't think I'd ever go back to living in a house. Just a thought.

in2deep_2

I have been reading a bit about F&F letters and how to pay.
I noticed that it seems wise to get someone else to write the cheque to help enforce the F&F part by involving a third party.
Should this third party be named in the letter at all.???


I also found this statement from a law case.

'The payment is tended as an offer of settlement which will deemed to have accepted by you and therefore be contractually binding if it is presented to your bank and cleared for payment. If you are not willing to accept the payment on these terms, would you please return the payment and we will assume therefore that the dispute will have to continue'.

Your thoughts on this please.

in2deep_2

I need to send out the letters soon does anyone know if and how i should mention a third party.????

fatbelly

Yes you can - but only in vague terms - a family member or even 'a third party'

How much are you adding to the standard letter? And what percentage are you offering?

in2deep_2

In just sending the standard letter initially using the normal pro-rata formula.
I have four creditors all Ccards.

fatbelly

Great. Just use the standard letter. I understand that you don't want to disclose the percentage. But don't start with your final figure if you know what I mean. Leave some room for negotiation.

You should definitely start below 50%

in2deep_2

Thanks, So based on the fact sheet this is what i'm proposing.

current figures
#1 £8500 owed offer £4250
#2 £4500 owed offer £2250
#3 £9500 owed offer £4750
#4 £7500 owed offer £3750


Have i done the sums correctly.?

All four of these have been on a payment arrangement of £25 a month for almost 3 1/2 years now these are arrangements i set up myself not using any management companies.

in2deep_2

I forgot to ask, should i list all the creditors and the amounts owed and offered in the letter i send to each of them.???

fatbelly

in2deep wrote: »

I forgot to ask, should i list all the creditors and the amounts owed and offered in the letter i send to each of them.???

Personally I wouldn't. You're trying to reach agreement with each individually and you're offering realistic amounts given that their choice appears to be: lump sum of 50% from you now, sell it commercially for a third of that, or continue with your plan for several tens of years.

in2deep_2

£25 a month for a million years suits me.:D