How To Tackle IDEM ? Any tips guys for F&F?

Want2BeDebtFree

Hi Guys, (sorry this is so long - I do apologise)

I am a bit stumped, as have hit a brick wall with IDEM (one of the last 2 of my long outstanding enforceable debts)

(If you all recall, I've stopped paying 4 of them due to no contracts -- and one was F&F paid to Cabot at 66% as F&F offer with letter received in post as proof of paid in full -- and the fourth one was written off in full as was an historic overdraft with the bank, which hadn't been downgraded to a free account even though I'd asked them to time and time again). I even got a cheque for over £400 for that one! As compensation! WOW!!

Anyway IDEM is the biggest debt at approx £9 thousand Pounds..

I rang them today due to the positive incentive/reaction and outcome I got when I rang Cabot a month ago... [also, because its the end of the month (28th July) and I know they LIKE to have large sums coming into their companies at the end of each month] -- I was hoping they would GRAB my hand off at the thought of a 66% (£6 Thousand) Full & Final Settlement? No such luck!

I started in by saying I was ringing on the pretext of something else (hoping he would TAKE OVER and steer my chatter to Full & Finals etc?? But he did not take the bait... So in the end I had to bring the subject up... I said "I'm wondering if you got my letter back in March about the F&F???" and then I continued on with: "Oh yeah sorry, you did I'm just reading the reply, -- you turned me down as it was only 25%.... Hmmmm i wonder if I could "up" that offer today as you never came back to me with any counter offers????"

So he went off, and then came back and asked me for my new offer? I offered him 50% cash via "an elderly distant relative third party wanting to help me out".... ..He went away, and then he came back and said "Sorry that has not been accepted by our system" and he then said he had authority to give me a F&F with an offer of 86.74% and that I had 30 days to make my mind up... ( I worked it out i would only be saving a total of approx £1,150.00 which isn't enough of a saving really Not when I hear of much more successful stories.

So I countered him back with 66% immediate cash/bank transfer but he turned me down again... He said something about "IDEM don't do deals with customers in certain situations" (but I never understood what he meant???) Was he saying its because we have got a mortgage and are up-to-date with gas and electricity and all our bills?? Is that what he meant??? Cos in the course of the conversation he asked me if i was up-to-date with my bills... And I replied yes...

So my reluctant plan is to ring Step Change, and make up some story about the boiler blowing up, or something, so that I have to REDUCE the payments even more! The reason being is that IDEM and Capital One's monthly amount has SKY ROCKETED to three times the previous amounts since all the other's have been paid off, or been ceased off (due to no contract), so my new rationale/plan is that a year or so, (of just tiny tiny monthly payments) might make them sit-up and think: "hey -- he's not paying much -- it will take YEARS to pay off -- yeah lets accept 66% F&F"

I truly HATE to do it this way -- it seems somehow immoral -- however THEY were immoral to me when they were charging me £200 per month interest, for months and months, so i DO NOT feel an ounce of guilt.

I wonder if at some stage (when available) Sourcrates could help me on this one? As everything he has said so far has come true -- and every piece of help offered has worked!! ... :T :T

Basically I will pay £6 thousand as F&F, but they want £8 thousand, and they just wont budge! So what do I have to do? I don't mind if your plan takes a LONG time..

Thanks ONCE AGAIN guys !! Will this saga ever end?? I hope so! :beer:

sourcrates

Hi,

Hope your doing ok.

Its a case of computer says no then is it, very annoying when you just want rid of it.

The main reason why they wont accept, is, as you probably suspect, because you are up to date with everything else, all your essential payments, that tells them you are managing and coping ok, and that, over time, they will get the full amount.

If, you had substantial arrears everywhere, they would be much more likely to take what you offered, as they would know your only alternative would be possible bankruptcy, and they would get nothing.

Leave it a while, let the dust settle, then ring them back, you could possibly....err....exaggerate......your situation, err, somewhat, if they ask you if your essential payments are still all up to date, be inventive with your answer.

Remember Ray from Ghostbusters ?

Next time Ray, If Zuul asks you if your a God, say yes.

Good luck.

redux

From a few months ago on another thread:

slm6002 wrote: »

I am almost debt free but I have one debt left. I have been offered a f&f payment but it wasn't low enough for me to pay off. A few months later and after a few more payments through my dmp I rang them to see what the lowest they would accept was. The computer generated a figure which was higher than the original offer. Is this normal?

redux wrote: »

Sounds like Idem Servicing. They can be very tricky to negotiate with, priding themselves they do things differently than other companies in this sector, which can mean they take months on something others can do in minutes, but eventually about 65% can be possible.

Whichever company it is, point out the increase and say this is unfair, and ask them to review things and come to a more sensible position.

I'll stick with that comment, and one I made on another thread. The firm thinks it is different to others in the sector. I would guess that one aspect of he differences,, from their point of view, is be stubborn and settle at higher proportions than rivals.

But they are also inefficient, and it isn't unknown them to write with downright lies - someone I know had a letter from them saying they had been trying to get in touch for months; they eventually upheld his complaint that this was completely untrue, admitting that he'd phoned them several times in a year, trying to negotiate a settlement.

From looking for discussions on other forums, 65% does sound like the best that can be achieved there, but it takes time.

Is it Stepchange that have increased the payments, collecting the same per month but now spreading it to only 2 companies? If so try to reduce it back to the same amounts per company; now there are only two you might consider talking to them direct, and reverting the amount for now.

About that inefficiency I mentioned above, it used to be that a settlement offer had to be referred on to managers in another department, but sometimes it wasn't actually passed on. Or the client offers an up to date declaration of income and expenditure (which other companies want at such a moment), but is told it is not necessary at this stage. Then the decline comes back after a few days, and the first comment by them is they don't have up to date inc&exp. These procedures were supposedly improved a couple of years ago, so now the first person you talk to can type in your offer and get a decision, but maybe you can still get somewhere a bit better by talking to or getting the offer sent to the collections team a few times, as my friend had to 3 to 2 years ago, and 65% eventually happened, but only after several chats and offers on the subject, and including the above mentioned nasty stunt of them starting to increase the required amount upwards again after 3 or 4 months