75% offer to creditors refused??

midebt

hi there

so far we have offered our creditors 70 - 75% final and full offer.......

2 have accepted........but at least 5 have not saying thy do not accept offers this includes halifax / mint /

cahoot have accepted........along with debenhans store card.

is this the norm or what would u advise we do next.........are we suppost to up the offer.....though halifax say thy want the full payment - full stop .

LandyAndy

Difficult to comment without knowing how much you owe each one and what your record is in servicing each debt. If you owed me £10 and offered me £7.50 I might accept. If it was £10,000 and £7,500 I might press you a bit harder.

continualdiamond

Going on what payplan have advised me, if this happens to me i am to keep sending the token payment every month regardless because i cannot afford anymore than what i am offering to pay them each month.

Im going down the route of a debt management plan and payplan came up with a pro rota payment for me. I sent each creditor a copy of my expenditure along with an copy of each payment each creditor was receiving.

I can't really say anymore because i only sent my letters and 1st payments off last week and im only going on what payplan told me.

Best of luck

immoral_angeluk

Is it a DMP or an IVA you're doing? Are you in arrears?

continualdiamond

I just re read your post and i might have mis understood, if you mean offering them that % to end the debt then of course what i have just posted, ignore.

midebt

i would like some advise on this question.........not really what others are doing thanks very much for all replys

midebt

we are actually re mortgaging and will be left with an amount to offer all crditors.....to hopefully clear the debt..........but i will not have enough to pay them all the full amount..........

so i either stash the moeny away in a savings account.........

or repeat my offers of 75% or a little more however halifax are adamant thy want the full amount to clear the debt

angelavdavis

As recommended by other posters, I would continue with payments and send the following (recorded) to the creditors that have refused you:

Dear Sir/Madam

Acc/Ref No 4563210025897412

Thank you for your letter of xxxxxxxx concerning the above account.

I am sorry that you feel unable to accept the offer made. The majority of my creditors have accepted the offers made to them and I have made payments to them.

I cannot offer you more because I can only afford X% of the overall debt as the total amount is being shared between all our other creditors in line with this percentage of the debts owed, and it would be wrong to reduce payments to another creditors in favour of your company.

This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released for any liability.

I also request that, if you reconsider and agree to this offer, you will make an entry on a credit reference agency file relating to the above account as "satisfied" in full.

In the light of the other creditors agreeing to our offers, please would you reconsider our offer.

In the meantime, I will continue making the regular payments as previous.

I look forward to hearing from you as soon as possible.

midebt

thanks for the help