I've quit everything. Now what ?

harz99

anna_1977 wrote: »

Hey,
AC....

I really think you should be emailing/writing to your creditors NOT phoning

I totally agree. Based on previous attempts AC, your not so good at dealing with a live situation so why put yourself in that position I think I've said this before, construct letters on your word processing programme then send them attached to an email.

That way you have a record of what was said, and can't be bamboozled into saying more than is good for you, which will happen if you get flustered or annoyed on the phone.

TallGirl

Sorry to chip in letter and email is ok if you have the actual person or department to contact e.g. from a previous letter as I fear a letter or email might just dissapear and never get an answer. Advantage by phone is you can (if you are able to haggle) and obviously give them your card details to pay there and then something you can't via letter. See how you go maybe set yourself a max you will go to and if you feel flustered or pushed to pay more say you will respond in writting can you have their address and contact details of that person you're speaking to. Remind them they will get more via you than if you do it with Payplan in case they forget about fair share which they pay to Payplan. Also a lot of the agents have personal targets to reach and if you can pay that day it might make a difference so again an advantage by phone. I'm sure you'll be fine maybe start with a smaller debt.

another_casualty

Good points here . First of all, the mattress protector is the landladys .
I'll see if she has a bedsheet in the airing cupboard . If so, that'll do.

Now , the dmp !
Normally, I'm very good on the phone . However, I got caught out with the questions from payplan . When I've looked at other people's threads about how they pay the settlement , then I see a mixture of success from phone and email. Writing also.
Now, I'm getting conflicting advice as to whether to phone, email or write .
Same as my other thread. You all mean well, and I'm now trying to do the correct way .
The other way is to let payplan do it . Most say no .
One of the reasons I was flustered and caught off guard , is the 20 questions situation I have received :' have you got debts to other creditors?
'How much will you be offering them?' Plus all the means testing paraphernalia which I intend to avoid .
One of the creditors said they would settle for 80% .
With this in mind , here is the situation and how I think I should approach it

Santander U.K. £ 8, 877.97
Pra group £6, 590.39
Westcott credit services £5,718.71
Santander cards £969.89
Barclays overdraft £ 960.39

Total £23,117.35

Pra group say they will take 80% (£5374.44)
So along these lines, I would like to offer 70% to all.
That would mean I pay £16,175.41
If I pay 80%!then it's £ 18, 493.88

If I don't do this , I would offer payplan,£14,500. & take it from there.
I love sourcrates , the king of no nonsense.

So there you have it .

What are your thoughts now ?

enthusiasticsaver

You only have five creditors to deal with AC so it should be easy to write to all five and offer as you say 70% for a full and final or even less. I personally would start off with 50% and expect them to come back and say no in which case up to 60% or 70% for those really refusing to settle. Payplan have no power to accept offers and don't as a rule do very well with negotiating full and finals but someone more in the know may disagree.

Five letters and the way to stop means testing is to say you have no income which is true.

TallGirl

I not want to offer conflicting advice but when you speak to them or write if you want to say you're offering the same to all of them as you have downsized your property/moved to a cheaper area but you're not working as you have health issues so no income coming in. Make it clear you can pay them immediately but that the offer will only be open for 14 days or one week (maybe say it's when you'll hand it over to Payplan and they will pay Fairshare. Really wouldn't do all at once do the smaller ones then if they accept tell the big ones who have accepted so far).

It's great to put things in writting but there's no need once the the money is paid that's it if they don't accept write to them or hand it to Payplan. If it's with collectors they are more likely to accept if with creditors then 70-80 should do it

another_casualty

Okay, I have an update .
Phoned p r a group. Nice scottish lady . She went to someone higher up.
I offered 70%. They came back with an offer which has increased
£600 more than the previous letter they sent me.
Unbelievable !

I then phoned wescot . They weren't prepared to listen to anything unless I went through means testing . B@@locks to,that!!
The chap was polite , but no go .
Both creditors know I have myasthenia gravis and am not working.
I conducted myself perfectly in every way , and never got flustered.
I gave my new address .
With wescott, they did offer a counselling type service on the phone if I wanted to speak to them . Like a sympathy service . Ok if you feel daunted by everything . They wouldn't take settlements in that dept.
The offshoot is , I will now let payplan do it.

Even on here , I here conflicting offers as to what % I should offer.
What I do know, is that I gave it my best shot, and it is not good enough.

What I can do, is drag the payments out if they want and make another offer by email in the future. I will make sure the money is put away in a savings Acct if PayPal can't strike a deal and pay off a larger amount each month .
At least I was proactive I suppose

candy222

TallGirl wrote: »

I not want to offer conflicting advice but when you speak to them or write if you want to say you're offering the same to all of them as you have downsized your property/moved to a cheaper area but you're not working as you have health issues so no income coming in. Make it clear you can pay them immediately but that the offer will only be open for 14 days or one week (maybe say it's when you'll hand it over to Payplan and they will pay Fairshare. Really wouldn't do all at once do the smaller ones then if they accept tell the big ones who have accepted so far).

It's great to put things in writting but there's no need once the the money is paid that's it if they don't accept write to them or hand it to Payplan. If it's with collectors they are more likely to accept if with creditors then 70-80 should do it

Sorry but i dont agree with you at all,you should always make the offer in writing, otherwise they could accept the amount on the phone and still come after you for the balance and you have no prove the lower amount was agreed.

candy222

another_casualty wrote: »

Okay, I have an update .
Phoned p r a group. Nice scottish lady . She went to someone higher up.
I offered 70%. They came back with an offer which has increased
£600 more than the previous letter they sent me.
Unbelievable !

I then phoned wescot . They weren't prepared to listen to anything unless I went through means testing . B@@locks to,that!!
The chap was polite , but no go .
Both creditors know I have myasthenia gravis and am not working.
I conducted myself perfectly in every way , and never got flustered.
I gave my new address .
With wescott, they did offer a counselling type service on the phone if I wanted to speak to them . Like a sympathy service . Ok if you feel daunted by everything . They wouldn't take settlements in that dept.
The offshoot is , I will now let payplan do it.

Even on here , I here conflicting offers as to what % I should offer.
What I do know, is that I gave it my best shot, and it is not good enough.

What I can do, is drag the payments out if they want and make another offer by email in the future. I will make sure the money is put away in a savings Acct if PayPal can't strike a deal and pay off a larger amount each month .
At least I was proactive I suppose

I think not to pay off your debts is a crazy idea, clear the debt why you can otherwise you run the risk of spending the money
Lots of people have advised you to write or email you final offers i dont understand why you phone as even if they accepted your offer you would still need a paper trail.

another_casualty

candy222 wrote: »

I think not to pay off your debts is a crazy idea, clear the debt why you can otherwise you run the risk of spending the money
Lots of people have advised you to write or email you final offers i dont understand why you phone as even if they accepted your offer you would still need a paper trail.

Thanks candy
As I say, conflicting advice . I had to do something . I wouldn't have just paid it . I would have asked for confirmation letter first and paid immediately after. It seems payplan is the way to go.
With them, there's a paper trail

lessonlearned

harz99 wrote: »

I totally agree. Based on previous attempts AC, your not so good at dealing with a live situation so why put yourself in that position I think I've said this before, construct letters on your word processing programme then send them attached to an email.

That way you have a record of what was said, and can't be bamboozled into saying more than is good for you, which will happen if you get flustered or annoyed on the phone.

As above.

AC sorry but you are one lousy negotiator. And I have to say it, but you have also shown a monumental lack of delicacy phoning today....of all days.

Given the devasting events of the last 24 hours It was unseemly and distasteful to be haggling over a debt which you incurred and which you are trying to wriggle out off or substantially reduce. In fact it was downright crass.

It is a deeply distressing day for so many people and a sad one for the UK at large. ..........Even our politicians have had the good grace to show some respect and suspend their campaigning today. It is a day for quiet reflection not furthering our own ends for financial gain.........

My job involved negotiating financial deals and I was very good at it. If someone had tried to talk money on a day like today, purely to haggle down and get away with paying less than they owed I too would have given them short shrift .......... I would have refused point blank to enter into such a discussion. I would have sent them away with a flea in their ear.;)

There is a time and place for financial wheeling and dealing. Today was not the time and the UK was not the place.

Please rethink your strategy.

Give it at least a week. And then please make your overtures in writing. No more random phone calls.

If you do want to do it by phone then make a proper appt just as you would if you were visiting their office. If you were doing it in person you wouldn't just rock up unannounced. Phoning out of the blue and demanding immediate attention is just as bad. Show them a bit of professional courtesy.

Plus........If you are phoning you need to make sure you are speaking to the decision maker and not just some random minion who happens to be available when you make the call. Otherwise you will just get fobbed off as you were today.