Idem Servicing

Baggiestan

Hi
Just wondering if anyone has had any luck with full and final offers with Idem,i had seen that they always want 100% but i have got about 70% availiable.

National_Debtline

Hi Baggiestan,


All you can do is put the proposal to them. Don't do this over the phone, keep everything in writing and keep a copy of it all. We have a sample letter that you can use to help - https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx


I do have to stress how important it is to get everything agreed in writing before you send any money. It is normally done on a case by case basis so try not to be discouraged if you have heard stories where an offer has been rejected.


Sometimes people start slightly lower than their maximum offer, so they can bump up the proposal to try and make a more amicable agreement to settle the debt.


Laura
@natdebtline

glentoran99

Had no luck at all with them, they were my only creditor that insisted (and got) the full amount

fatbelly

I've done a search of this site and it does seem that they have a reputation for being awkward.

But I agree with Laura's advice.

What debt was this originally?

redux

They are stubborn, but it is possible to get some movement, though it may take a while.

They used to deny they would accept less than 100%, but if someone insisted on making an offer it would have to be sent off to management somewhere, then come back rejected after a week or two.

Just to be awkward, they might say they didn't need an up to date declaration of income and expenses to accompany the offer, when the account holder volunteered to give one, then they would happen to mention it during the later conversation, as if that lack might be but not necessarily was the reason for the decline. Yes, that is how aggravating they can be.

A few months ago they changed their systems, so they said, and the ordinary cs team could enter the offer details and get an automatic decision immediately.

Not much use though. At that point there are probably 2 or 3 more rounds to go, like ask why the acceptable percentage is increasing with time, complain, marshall your case carefully, and make another offer. They come back, then again ...

I saw on some other forums that 65% seemed to be obtainable, and that is where the person I was helping managed to reach in the end. But it was weeks, compared to a few minutes on one phone call each with a couple of the other firms.

How stubborn you are willing to be in return might depend on the balance size - haggling the last 5 or 10% off a few thousand is worth more than off a few hundred. And counterbalancing that, letting things ride a few months in the hope of further improvement is losing the chance of a discount on the continuing regular payments.

Baggiestan

Hi
Thank you for all of the replies,not been on for a few days.
Contacted Idem and true to form they insist on 100%,am i right in thinking that these companies don't pay a lot for these debts.
I have currently approx 65% availiable for a settlement and as i am on a DMP with Stepchange would they have more luck than me in getting a settlement figure.

Baggiestan

Hi Fatbelly
Original debt was for approx £5000 with MBNA,the debt was then moved to Moorgate and now onto Idem and currently stands at approx £1800,i can get about £1250 to clear debt as after 5years with stepchange this will be the final one to clear and we will be debt free.The current plan has 12 months left to run.

Baggiestan

Sorry forgot to add that when we started this process we had debts of over £22000 and thanks to all of the kind and helpful people on this site we are nearing the end of this journey.
Thank you to all the contributors. :beer:

pbsmiles

I am waiting for them to come back to me at the moment i owe about £1500 to them but 38k across several creditors with a stepchange dmp which won't finish until 2057. Long story, be interesting if they just want full amount as they are risking me being 94 before i pay them hahaha, laughable really.

Dezza33

Hi there. I managed after a gruelling 1.5 hour phone call with IDEM manage to get accept 65% of the debt as !!!!!!! Hope this helps. In negotiating I offered 30% off, rejected I then offered 35% rejected. At this point the horrid woman said as you made two offers the most I can accept is 35% off! I accepted and could not pay off some other creditors but it was worth it to get this vicious company out of my life!