Offering a final settlement of an account

fatbelly

SpeedyBoots wrote: »

How would you do it? Ask them what their settlement offer is and then say, I can offer X amount, starting at 25%?

Use the National Debtline template, send it as a letter, recorded. You take the initiative by offering 25% and see what figure they come back with.

On the HSBC/MKDP debt, has there ever been a period of 6 years when you did not acknowledge the debt by payment or in writing?

Monkeyballs

Hi,

I am on a DMP and have started chancing my arm with some of my creditors and making small F&F offers to test the waters...

I just got Cheque Centre to accept £230 for an outstanding £940 balance yay!

Whereas Welcome Finance declined an offer of £100 for a balance of £180 boo!

I think my tactic is going to be see what I can afford and ping F&F's out as and when I have something reasonable to offer them, I'm assuming that the longer you are on a DMP then the more attractive an F&F will become?

I also had the Money Shop decline an offer of £80 against a balance of £430 but they countered with £300... I can't afford £300 but it would still represent a small saving on my debt and gives me an idea that they are offering 25% now so may accept 50% in a few months time (assuming I have the cash to offer LOL).

I have no intention of doing anything which causes me stress or hardship financially, none of my offers are going to impact my financial situation and I'm relying on emails asking for them to providing written confirmation so there is no other cost than my time and if I'm being honest I get a bit of a kick out of them offering a reduced settlement figure as it makes my outstanding balance seem a little less daunting LOL

Good luck

MB

SpeedyBoots

Thanks for the advice folks.

Managed to get Wonga down from £720 to £600 and MKDP from £420 to £280, but unfortunately the £144 balance is still showing on my file......



Now I am wondering, will this £144 always show up and it be outstanding so to speak, as it still says default and not satisfied

SpeedyBoots

Just a bump to see if anyone can help regarding the last

SpeedyBoots

Bump Please