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Full & Final Settlements.. With Refund from Bank
mistertml
Posts: 83 Forumite
Hi Again
I have started to deal with my own DMP and the creditors are accepting my offer of payment as it is a lot more than the amount they used to receive from my DMC.
I have claimed PPI and other charges from most of the creditors and paid it towards the DMP.
I currently owe £12000 and can comfortably pay £150pm towards the debt.
What I would like to know is at what point do I start to make full and final settlement offers to the creditors?
I have been advised that it is best to make Pro rata payments to all creditors instead of trying to pay the smallest balance off first etc.
The reason I ask is that discovered I have a redundant HFX account which was also part of the DMP previously and found that they had applied O/D charges on there. After going through the template on this site I found that they owed £1500+ to me. I cleared the £100 O/D some 15months ago. An advisor called me and has offered a refund of £750. I advised I would think aboutit and get back to him.
What I would like to know is should I accept this?
Should I use the money to make F&F offers to all or some of my creditors?
Any advise on the matter would be appreciated as always
Thanks again
TML
I have started to deal with my own DMP and the creditors are accepting my offer of payment as it is a lot more than the amount they used to receive from my DMC.
I have claimed PPI and other charges from most of the creditors and paid it towards the DMP.
I currently owe £12000 and can comfortably pay £150pm towards the debt.
What I would like to know is at what point do I start to make full and final settlement offers to the creditors?
I have been advised that it is best to make Pro rata payments to all creditors instead of trying to pay the smallest balance off first etc.
The reason I ask is that discovered I have a redundant HFX account which was also part of the DMP previously and found that they had applied O/D charges on there. After going through the template on this site I found that they owed £1500+ to me. I cleared the £100 O/D some 15months ago. An advisor called me and has offered a refund of £750. I advised I would think aboutit and get back to him.
What I would like to know is should I accept this?
Should I use the money to make F&F offers to all or some of my creditors?
Any advise on the matter would be appreciated as always
Thanks again
TML
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