20% Full & Final

geordiejc

Hi,

PRA group have offered me 20% off my full and final balance when i offerd 51%

What is a good way of offering them to increase their % ?

My offer was based on :

"I can confirm that I am unable to pay the money which I owe in full as I will soon be made redundant from my employer in June 2016. I have recently been unfit for work due to mental illness therefore i do not foresee employment in the near future.

I have been advised by my debt management plan (Step Change debt charity) to clear my debts in full using this money as a pro-rata share between all 4 creditors.

I can raise £x and I want to offer this as full and final settlement of the account."

The remaining 2 creditors have not replied so far.

Thanks in advance for your advice.

andyfromotley

There is a full and final settlement thread on here which can be useful.

However ultimately you cant force them to come down to your offer. Just keep pestering them see if that gets you anywhere, perhaps a reduction in their paymants when you become redundant will make them more amenable? Just keep plugging away i guess.

National_Debtline

Hi

You could try requesting a copy of the CCA agreement. If they’re unable to supply a copy the debt would be unenforceable in court, which could make your full and final offer more appealing.

There is a sample letter here to make the request. Send it by recorded delivery and send a payment of £1.

www.nationaldebtline.org/EW/factsheets/Pages/gettinginformationfromyourcreditors/Page-04.aspx

James
@natdebtline

geordiejc

andyfromotley wrote: »

There is a full and final settlement thread on here which can be useful.

However ultimately you cant force them to come down to your offer. Just keep pestering them see if that gets you anywhere, perhaps a reduction in their paymants when you become redundant will make them more amenable? Just keep plugging away i guess.

You got a link for it please i can't find it?

National_Debtline wrote: »

Hi

You could try requesting a copy of the CCA agreement. If they’re unable to supply a copy the debt would be unenforceable in court, which could make your full and final offer more appealing.

There is a sample letter here to make the request. Send it by recorded delivery and send a payment of £1.

www.nationaldebtline.org/EW/factsheets/Pages/gettinginformationfromyourcreditors/Page-04.aspx

James
@natdebtline

This is a great idea i'll give it a try - thanks! should i send the £1 as a cheque?

fatbelly

The £1 generally goes as a postal order so the scum don't get to know the details of your bank account!

The thread is here

https://forums.moneysavingexpert.com/discussion/115430

They've offered to settle at 80%. That's a joke for a company that buys debts for below 10%.

Follow James advice, providing this is a consumer credit act debt