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On dmp 30% settlement declined by creditors. What to offer now?
jonnym8083
Posts: 303 Forumite
My creditors 9 in total have declined my recent offer of 30% settlement. They have come back with figures off 20-25% off. Where do I go from here? Is it a bargaining game am I likely to move them? What should I do now ignore there 20% n offer a 40% settlement?
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Comments
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Yes its a bargaining game.
If you can afford to its worth writing again and upping your offer a bit. Did you say where the money was coming from in your offer letter? If it a gift from a relative did you say that?
How long is your DMP expected to last at current repayment levels? are your debts with original creditors or debt collectors?A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Nah I didn't give any reason but yh can up it to 40%. I have couple years left on it0
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Anymore advice?0
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Yep, it's a bargaining game! Have you read this thread?: https://forums.moneysavingexpert.com/discussion/115430
You might find it helpful.
SAAC0 -
Think I'll go back in with 35% as full final offer what you all think?0
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Mine varied a lot some took 35% (post office CC), others would not take less than 90% (1st Credit)ISA £1675
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Mine varied a lot some took 35% (post office CC), others would not take less than 90% (1st Credit)
Grrr I wouldn't offer 1st credit the muck between my toes, I loathe them with a ferocity I simply cant put into words lol, having dealt with them, I assume you'll know what I mean !!!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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