Making full and final offers. Any help please?

TimeToDoIt

I am so so sick of this credit card debt around my neck that I would like to make f&f offers to my creditors but don't know where to start!

Does anyone have a template letter I could look at please?

Also, none of the debts have been sold on to agencies - they are all still with the banks and cc companies - does that matter?

Thanks for reading x

~Beanie~

Are you meeting the minimum repayments or have you defaulted? If you are still making the minimum, I doubt the CC companies will be interested.

National_Debtline

TimeToDoIt wrote: »

I am so so sick of this credit card debt around my neck that I would like to make f&f offers to my creditors but don't know where to start!

Does anyone have a template letter I could look at please?

Hi TimeToDoIt

This is our template, hope you find it useful:

https://www.nationaldebtline.org/EW/sampleletters/sole-letters/Pages/Full-and-final-settlement-offers-(sole-name).aspx

TimeToDoIt wrote: »

Also, none of the debts have been sold on to agencies - they are all still with the banks and cc companies - does that matter?

Thanks for reading x

It is perfectly possible to negotiate such settlements with the original lenders. That said, they tend to be more likely to be offered/accepted once the debt has been sold on elsewhere.

Dennis
@natdebtline

zenshi

Hijacking the thread for a quick question

I received a letter from DCA suggesting a settlement figure. When I rang, they said they couldn't discuss without seeing income/expenditure. I have done this but added a covering letter offering a settlement that I can afford. Bit cheeky or quite acceptable?

heatherks

zenshi wrote: »

Hijacking the thread for a quick question

I received a letter from DCA suggesting a settlement figure. When I rang, they said they couldn't discuss without seeing income/expenditure. I have done this but added a covering letter offering a settlement that I can afford. Bit cheeky or quite acceptable?

i have never heard of this before asking for a I&E for a F&F ...how long have you been making reduced payments for ?

i'd tell them a family member / friend is offering you the money to pay the F&F

zenshi

heatherks wrote: »

i have never heard of this before asking for a I&E for a F&F ...how long have you been making reduced payments for ?

i'd tell them a family member / friend is offering you the money to pay the F&F

It's a credit card with relatively small balance that defaulted on a while back and haven't made payments. The debt has just been taken over and I received a letter offering discount settlement but with no figure. When I rang, they said to provide I and E first. I haven't made any payments to the DCA or made a payment agreement yet. This was initial contact with them.

I have said it's from my daughter which is true. She will donate me her 'tip' fund from work...bless her

heatherks

probably just another scam from the DCA to see if you answered letter from them ....
Good luck with your F&F

zenshi

LOL Heather...... It has to be paid and dealt with, wether that be £5 a month or a small lump sum. A year down the line, and now they don't frighten me at all