IDEM Servicing - Settlement Figure - can anyone help?

Kag1512

I have an outstanding debt with IDEM servicing. I called them today to see if I could get a settlement figure from them. I have never done this before and people have told me that sometimes you can get a reduced figure from the people you have a debt with to pay back - so I was hoping for this, but when I asked, they just said I had to pay back 100%.

Is there a way around this? Has anyone on here had any success with them? and if so what did you do?

Or do I have no choice but to pay them the full amount back?

Karen

sourcrates

Hi,

These things should always be done in writing, using the appropriate template letter, the call handler on the phone will have no authority to make settlement deals with people.

They are not renound for offering very good discounts, but they should offer you something.

Template letter available here :

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

Put your request in writing, and you may have more success.

sourcrates

Can you please keep this to just one thread.

Multiple threads on the same subject just confuse people.

thanks.

redux

It is a difficult firm to deal with.

They are supposed to have changed things a while ago, so that the ordinary call handlers supposedly can deal with settlement offers, but as you've found that doesn't necessarily help.

Going back before that, an offer had to be sent off to another team, and they were slow at coming back again.

The firm also plays stupid stunts like sending letters with fabricated accusations. Someone I know was accused of failing to respond to requests to contact them - doubly untrue, as there was no such request, and he had phoned 5 times in the previous 3 months, trying to negotiate.

If things are going slowly so far, try to talk directly to their recoveries team. If you can't manage the perhaps 75% offer they make, you may find the next offer a few months later has gone up; keep the pressure on.

My friend eventually got them down to 65%, but it did take some time. That was all done on the phone, with that and one previous offer eventually confirmed in writing by the firm, but even then the letters had to be asked for more than once.

A search elsewhere on the internet may turn up some other discussions with much tediousness and settlements eventually at 60 or 65%, so that seems about par for the most optimistic results.