Final Settlement Figures

SuperOX

Good Morning all and I hope you are all well!

Apologies if this has been mentioned before, but I need some assistance and advice on how to proceed to hopefully becoming debt free!

I have a few creditors and utility companies with money outstanding. Whilst I'm not paying any interest to them, I'm paying a minimal amount per month to keep them happy. This comes off the back of advice on this forum (thanks guys) to leave a fee charging management plan and go it alone, it's been successful so far!

I am now, potentially, being able to have access to a set amount of funds of which I am planning to use to clear these debts once and for all. I wondered if anyone has dealt with any of the companies below and have an idea of what % or figure I can be expected for them to accept as a final settlement figure:

(The figures are what is still owed)

- NPOWER - £1,100 - computer error on there part, account closed in September 2013 - complaint to FOS lowered amount owed but paying £45 per month currently (so 2 more long years to go)
- BARCLAYS - £2,050 - Career Development Loan taken out in 2009 on a wild career aspiration, paying £20 per month until funds agreed to clear (so technically 8 1/2 years to go if not cleared )
- SOUTHERN ELECTRIC - £106 - not a biggy but paying £9 a month to clear since May 2015.
- BRITISH GAS - £335 - another great big company customer service error that didn't allow Direct Debits or bills to be sent to me, had money given as goodwill gesture and paying £15 a month so another 2 years of this burden.


It's not mega amounts I know, however I want to be debt free so my monthly income can be spent on the family rather than paying these companies!

Any help is much appreciated and I thank you in advance!

Brightspark87

Lots of people have viewed this without making a comment so don't want to leave you high and dry.

I would start at 10% and then work your way up again. If they have been passed to Debt Collection Agencies this will be easier.

If they have not - it might be a little more tricky.

Good luck though.

National_Debtline

Hi

I agree with Brightspark that it’s best to start low and then negotiate upwards if you need to. There is a sample letter here you can make your offers with:

www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx#


James
@natdebtline