Recommended settlement figures for Collection Companies

Richard_Collier

Hello All,


I got myself into a terrible mess in 2012.
I have three outstanding debts relating to accounts defaulted that year.

I have kept up regular monthly payments for 6 years and
my outstanding balances are -

Moorcroft - Lloyds Bank - £7k
Robinson Way - Barclaycard - £2k
Fredrickson - Capital One - £1.6k

Any recommendations please for settlement figures all three may accept?

Thank you

sourcrates

Hi,

This process is less of an exact science and more pot luck to be honest.

It depends on a whole host of things, far too long to list here, best to just start low, and work from there, its all a matter of negotiation, from say, 30% and work upwards.

Make sure everything is agreed in writing before parting with any money.

3011gillian

We had a Robinson way one accept about 45% recently. Similar amount to you and they were only getting £8 a month.
No such look with similar offers to PRA and LINK.