Coming out of dmp and making an offer

fev1983

Hi all need some help.
Right I have a dmp and I'm thinking of coming out of it and making an offer to the creditor,,
Is this a good idea,I owe £5100 and pay £294 a month dmp.
Would I be able to offer a lower figure to settle the debt???
Also the original creditor was natwest,,it says natwest on my credit file for the debt but the dmp have the debt down as apex,
Would I contact natwest or apex to make the offer ???
Really struggling to get my head round this.
Many thanks
Hope someone can help

sourcrates

Hi,

Apex are most likley, just managing the debt for NatWest.

Yes you can make an offer to settle, decide what you think you can afford, and send it to NatWest using the National Debtline template letter, link here :

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

Do not part with any money until you have it in writing that the remaining balance will not be chased.

Remember, they may turn down your initial offer, it's all a matter of negoatiation.

fev1983

Thanks for the reply,,
What is the figure you would look at I was thinking round about £3000

sourcrates

fev1983 wrote: »

Thanks for the reply,,
What is the figure you would look at I was thinking round about £3000

The only problem is that as the debt is still, technically, with the original creditor, they may not be very flexible where settlement figures are concerned, however you won't know until you try.

Go in at 3k see what response you get.