Am I asking too much?

AngryDog

I've always settled them for less, but its how much less I guess thats the answer. I have a figure in mind, and if its more than that, then its unmanageable as I cannot expect my parents to pay more than they can.

AngryDog

My cheeky offer of 10% was refused today. Debt has also been sold to Marlin....

moohound

I had nine creditors and they accepted between 30% and 90% and I cleared £38000 for £26000. some original lenders took 30% (MBNA) and some DCAs would only accept 90% (1st Credit)

Make sure all offers are in writing, and that the difference will not be pursued by them or anyone else.

Sainsbury's bank took 85%, all in writing etc., and then passed on the remainder to a DCA, and had a go at pursuing it.

AngryDog

My debts currently stack up like this;

£ 7,550.00
£ 12,898.00
£ 9,429.86

I have been offered £6000 to try and clear them down, or at least get a couple off my back.

I have worked out using the chosen method that these are what I should offer;

£ 1,516.17
£ 2,590.15
£ 1,893.68

I realise that this may be a big ask again! I have had these debts in arrears for 4 years. Chances?

Tixy

AngryDog wrote: »

Chances?

Assuming all do have the correct paperwork then fairly small I would think, but not impossible so still worth a try.

AngryDog

Thanks. I know partial settlements aren't seen as the best option, but I want out of debt, and I can't see any way other than this. Considering how little I pay towards the debts, you'd think there would be a bit more room to negotiate where both parties are happy. I'm not saying I'm not to blame for my debts, but a lump sum now is better than me paying the same over the next 3 years.

The annoying thing is that they will never give you an idea of what they will accept. To use a car term, they want you to be both the buyer and the seller.

AngryDog

My offer has been turned down, and they have come up with a counter offer of 90% to pay my debt off. That comes to £8480. I cannot get a hold of this. I am going to wait for them to let me know about my recent cca request (they have contacted hsbc to get the agreement), but how would I word a counter offer from my side now, in case they can find the cca?

Thanks.

sourcrates

AngryDog wrote: »

My offer has been turned down, and they have come up with a counter offer of 90% to pay my debt off. That comes to £8480. I cannot get a hold of this. I am going to wait for them to let me know about my recent cca request (they have contacted hsbc to get the agreement), but how would I word a counter offer from my side now, in case they can find the cca?

Thanks.

See what comes back CCA wise first, then will be able to advise better.

AngryDog

Thanks. They acknowledged it on the 3rd of July, so I guess they have until the 15th to send it?

sourcrates

AngryDog wrote: »

Thanks. They acknowledged it on the 3rd of July, so I guess they have until the 15th to send it?

Can take them a lot longer sometimes, just wait and see.


What year does this debt date from again ?