f and f payment

n.t

thanks for the help with my last post so when my default drops of am going to ring and ask for a f&f settlement what would i be looking at paying on a debt of 2600

Tixy

If you want to make a full & final offer it is advised to do it in writing not phone. And definitely ensure you have it in writing from them that your payment will be accepted in full & final settlement of the loan. https://www.nationaldebtline.org/EW/factsheets/Pages/24%20EW%20Full%20and%20final%20settlement%20offers/Default.aspx

How much they will take is hard to guess. They will weigh up various factors including, how long it will take you to repay the whole amount at the current rate of repayment, whether they have the correct paperwork for the debt, whether a court would be likely to order higher repayments, who owns the debt currently, how close they are to hitting their personal collection targets for the month/quarter etc etc.

The best advice is to start lower than you can afford, and if the first offer is rejected make a slightly higher offer.

Offers can be accepted at anything from 15% (so 85% discount) in rare cases to creditors refusing to accept anything less than 100%.

As a very general guideline and without knowing any details of the debt you could try an offer of 20% of the outstanding balance to start.

n.t

thanks for that so i will doit all by post and make them send out it in writing before i pay thanks again