On DMP - attempt settlement offer?

moneyflyer

My partner has been on a DMP for one year now. She has £20k in debt with over half consisting of a loan she had taken from her former bank. The remainder is credit card (Barclaycard, Aqua card, Capital One), overdraft, and payday loan debts. She has over 5 years remaining on her payment plan.

I've read a little about settlement offers. She may receive a small Christmas bonus, and I may be able to help her with up to £5k. Can someone offer advice on whether we should make a partial settlement offer? What percentage should we offer?

Edit: I should add that only the smallest of these debts appears to have been purchased by a debt purchase company. Amount of around £600. We may try a CCA with them to start.

sourcrates

Hi,
If debts are still with original creditors, its unlikely the discount will be massive, you should be able to negotiate something, but don't expect miracles.


You should have more luck with the debt that has been sold on, but its unlikely you will be able to settle over 19k for five grand.