F&F Settlement offer

alboy850

I have not been on here for a while, I have been working hard trying to save some money.


I have managed to get some money together by selling on Ebay and doing a bit of overtime where and when I can.


In total I have about £17,000 debts which are being looked after by Stepchange. (Great people by the way)


With the money I have saved and with a little help from my folks I can get £10,000 together in Jan 2014, this is about 60% of what I owe.


Would 60% be acceptable to some companies, creditors are


Metropolitan Collection Services £7,500
Zopa Loans £5,100
Marks and Spencer Money £3,700
Barclays Partner Finance £760.00


Many thanks in advance

dancingfairy

I think there is a factsheet on the National Debtlines website that deals with full and final settlements. You can only try. I'm sure some will settle with you. I'd possibly concentrate on settling the largest first and give them a deadline to respond before moving on to the next or you can write to all of them and say this is what I have - will you accept it? You might be able to settle at a lot lower than 60%. It's worth starting low.
df

cynicalgit_2

I'd be tempted to send a CCA request to each creditor.
If any debts are unenforceable then I would just settle the ones that are.

double_mummy

little more info would be handy how much are you paying each per month? how long has your plan got left to go?

never start your negotiations at the max go for about 30% and then work your way up slowly do it in writing with an agreed payment date so 31st Jan.

also if it is important to you remember to ask that they will satisfy your default rather than partially satisfied

sistafromanothermista

I would do a bit (lot) more overtime and pay in full...