Trying to payback 50% only on my debts

paramount7force

Hi!! I defaulted on about 8,500 pounds worth of debt mid 2016, since then some have taken me to court some havent so ive got ccjs. im currently in hospital in rehabillitation i got paid around 17000 in backpay from the recent esa contribution based to income related ordeal. ive been getting letters from my creditors for years now but have just been ignoring them. i remember from the letters a lot of them were offering me substantial discounts but these offers may have expired by now. ive got the money to pay but should i pay them or shouldnt i and how do i go about offering only 40 to 50% of my debts. i really dont know what to do im stuck and could do with some help. Thank you.

micky2phones

Hi, Write to each one asking for !!!!!!.

Some when paid off dont put debt settled but put party settled, so its still on your credit report.

Also do SOA this will show them what you can afford to pay each month if you cant get a !!!!!! or if the !!!!!! is not a figure you want to pay

Farmer_Johnson

paramount7force wrote: »

Hi!! I defaulted on about 8,500 pounds worth of debt mid 2016, since then some have taken me to court some havent so ive got ccjs. im currently in hospital in rehabillitation i got paid around 17000 in backpay from the recent esa contribution based to income related ordeal. ive been getting letters from my creditors for years now but have just been ignoring them. i remember from the letters a lot of them were offering me substantial discounts but these offers may have expired by now. ive got the money to pay but should i pay them or shouldnt i and how do i go about offering only 40 to 50% of my debts. i really dont know what to do im stuck and could do with some help. Thank you.

Yes, if you have the money to pay and admit that you do owe the money then I’d say that you should just pay them.

You’ve had a good period of grace where interest would not have been charged; just pay it back now and be done with it.

fatbelly

paramount7force wrote: »

Hi!! I defaulted on about 8,500 pounds worth of debt mid 2016, since then some have taken me to court some havent so ive got ccjs. im currently in hospital in rehabillitation i got paid around 17000 in backpay from the recent esa contribution based to income related ordeal. ive been getting letters from my creditors for years now but have just been ignoring them. i remember from the letters a lot of them were offering me substantial discounts but these offers may have expired by now. ive got the money to pay but should i pay them or shouldnt i and how do i go about offering only 40 to 50% of my debts. i really dont know what to do im stuck and could do with some help. Thank you.

This is a guide to making full & final settlement deals:

https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx

You set the agenda by telling them what you are offering. Do it in writing and be aware this is a lengthy process.

The correct mark on your credit file is partially settled.

There is a dedicated thread here:

https://forums.moneysavingexpert.com/discussion/115430/full-and-final-settlement-help-thread