We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
f&f settlements
coco1234_2
Posts: 1 Newbie
Hi,
Im thinking of offering my creditors f&f settlements with some money I can get together by 1/10.
A couple of questions...
If a creditor agrees and marks my account as partial settlement how long does this show on my credit file? Is it just 6 years or because its only "partially settled" does it stay on till its settled?
Also I can only afford about 30% offers at pres but I appreciate this is low and likely to be declined. If a couple of creditors come back with a higher figure can I pay some now and then look at alternatives for the others (will be able to get some more money together again in Jan) or do I need to do this on a all creditors or nothing to keep it fair?
I have done a nationaldebtline budget and have £11 a week left to offer creditors. I owe £5181 + a ccj with current bal of £2900. Not including (for now) ccj in f&f offers as just cant afford to. I can only at pres get together £1500 for full and final settlements.
Im looking at this as a last chance to avoid going bankrupt. I dont owe enough for a iva, I owe too much for an admin order and I dont have enough disposable income for a dmp.
Thanks for taking the time to read any thoughts appreciated.
edited to add: also getting mixed views on whether to ask companies what they would accept or offer what I want to offer. Any views on this appreciated. Thanks
Im thinking of offering my creditors f&f settlements with some money I can get together by 1/10.
A couple of questions...
If a creditor agrees and marks my account as partial settlement how long does this show on my credit file? Is it just 6 years or because its only "partially settled" does it stay on till its settled?
Also I can only afford about 30% offers at pres but I appreciate this is low and likely to be declined. If a couple of creditors come back with a higher figure can I pay some now and then look at alternatives for the others (will be able to get some more money together again in Jan) or do I need to do this on a all creditors or nothing to keep it fair?
I have done a nationaldebtline budget and have £11 a week left to offer creditors. I owe £5181 + a ccj with current bal of £2900. Not including (for now) ccj in f&f offers as just cant afford to. I can only at pres get together £1500 for full and final settlements.
Im looking at this as a last chance to avoid going bankrupt. I dont owe enough for a iva, I owe too much for an admin order and I dont have enough disposable income for a dmp.
Thanks for taking the time to read any thoughts appreciated.
edited to add: also getting mixed views on whether to ask companies what they would accept or offer what I want to offer. Any views on this appreciated. Thanks
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards