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Full and final offer
ppjones
Posts: 1 Newbie
Hi
I have been on a DMP for nearly 10 years (since 2007) I found myself for several reasons being in a debt situation without any other “escape” anyway went on a dmp and paying around 200 GBP per month. I have now got around 12k left (out of an initial 30k+). What would be a reasonable amount for a full and final offer? I could (new partner ) raise 4k but do not think anything more than that (at a push and I mean push 5K ) , as I do not want to “borrow” from other places as I would get back to square one. I am aware there is not a fixed amount lenders (NB my debts have been sold several times already but I always kept paying off the remaining balance). What would be a reasonable amount to offer and what are the figures usually “debt recovery/lenders” accept?
I have been on a DMP for nearly 10 years (since 2007) I found myself for several reasons being in a debt situation without any other “escape” anyway went on a dmp and paying around 200 GBP per month. I have now got around 12k left (out of an initial 30k+). What would be a reasonable amount for a full and final offer? I could (new partner ) raise 4k but do not think anything more than that (at a push and I mean push 5K ) , as I do not want to “borrow” from other places as I would get back to square one. I am aware there is not a fixed amount lenders (NB my debts have been sold several times already but I always kept paying off the remaining balance). What would be a reasonable amount to offer and what are the figures usually “debt recovery/lenders” accept?
0
Comments
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Hi,
Nothing's written in stone unfortunately, there's no benchmark of what creditors will accept.
10 years far too long on a DMP, maybe do an SOA see if you might qualify for a debt relief order maybe ??I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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