Settlement offer and Halifax

darjeeling

We have had a DMP plan for over 5 years now with Payplan who are a nightmare. Any way I suffer from anxiety and stress these past 5 years and it all got to much last year when I tried to end it all.
Fortunately I'm still here but not working and supported by my dear wife. My step son offered to pay some small debts off, so we put a letter together to Halifax and explained the situ and that the remaining debt of 153.00 on the plan could be settled and offered 60.00 for a FF. The reply was very short , cannot accept your offer, etc,etc.
After a phone call I was told 75% would be payable but if we sent in all our exp and incomes plus a Dr letter they would consider less.
I know they do not have to consider any offer but can they really ask for all this info and a Dr letter, I thought only the courts can request your exp v income statement ?
This just adds more stress to my health and you would think this would be taken into account when they reply.

benten69

They are allowed to ask, but they can't make you provide anything. Just like you can ask to pay less in your offers but they don't have to accept anything less than full payment.

Lensman_2

benten69 wrote: »

They are allowed to ask, but they can't make you provide anything. Just like you can ask to pay less in your offers but they don't have to accept anything less than full payment.

Well put.


You are dealing with an original creditor. While you might see good advice about resisting letter tennis with DCAs and not giving them unnecessary information, I don't think that applies in this case.

If it is worth the hassle for you then provide what they are asking for. And don't expect much more than a 25% discount from an original creditor.

I would still make your final offer in writing and I would use National Debtline's template for it which is succinct but says all it needs to.
https://www.nationaldebtline.org/EW/sampleletters/sole-letters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx

Sazzie23

darjeeling wrote: »

We have had a DMP plan for over 5 years now with Payplan who are a nightmare. Any way I suffer from anxiety and stress these past 5 years and it all got to much last year when I tried to end it all.
Fortunately I'm still here but not working and supported by my dear wife. My step son offered to pay some small debts off, so we put a letter together to Halifax and explained the situ and that the remaining debt of 153.00 on the plan could be settled and offered 60.00 for a FF. The reply was very short , cannot accept your offer, etc,etc.
After a phone call I was told 75% would be payable but if we sent in all our exp and incomes plus a Dr letter they would consider less.
I know they do not have to consider any offer but can they really ask for all this info and a Dr letter, I thought only the courts can request your exp v income statement ?
This just adds more stress to my health and you would think this would be taken into account when they reply.

Hi Darjeeling

Sorry to read about your troubles, over on the DMP support thread they refer to this creditor as Hellifax!

The DMP as you know is an informal arrangement and some creditors, in my case Barclays, request income and expenses review every 6 months which I duly fill in and then they leave me alone again.

Regards payplan, you don't have to stay with them if not happy, you could go to Sc or self managed. Self managed though might be more hassle than you could cope with maybe?

None of the DMP providers are perfect, they all have different agendas and methods of calculation for budgets etc. in the end it's your debt and you manage it how you want.

Wish you well with the F&f as OP states original creditors far less likely to agree to cut down payments than a DcA. What they are looking for is if y are likely to take a very long time to pay and only a small amount then it would be more in their interest to accept a smaller F&f, so the income/exp might work in your favour.

Come join us on the DMP support thread, we have a few smiles on there and it's good to share experiences.