F&F Declined/countered (contacted 6mths ago) 25 February 2019 at 2:26PM in Debt-free wannabe 6 replies 474 views

redmel1621

Hi,

I am after some advice please.

My husband has a student overdraft that we initially thought might have been statute barred; however, we didn't realise that the debt only became liable to be repaid after the university course ended and therefore the statute barred period only runs from that date... Once were given the information that the debt is not statute barred, we then made an offer of a F&F amount. We made this offer back in August of last year and heard nothing back from them, until today!

The offer we made has been rejected and an amount that they will accept has been given to us They have said they will accept the £15pm repayment on the amount they are offering as a F&F.

Our circumstances have changed since we made that offer and my husband (who's debt it is) is currently out of work and I have been in work, but am just waiting for a doctors note to put me on extended sick leave.

I'm not exactly sure why it has taken them 6mths to get back to us either!?

If we decline their F&F counter amount, will they then just say we have to pay the full amount? Also should I write back to them and state that our circumstances have now changed and we are only going to offer £5pm?

I'm not really sure what to do.

[Deleted User]

If you can't afford their proposal, you'll need to offer something that you can.

Willing2Learn

Hi redmel

Yes, if it were me, I would write to them explaining the change of circumstances. I'd attach a copy of your current SOA that shows you can only afford £5/month. That should keep them happy.

redmel1621

Do you think anything can be done about their higher counter offer of a F&F?

The initial debt amount was £1532.
We offered £766 (50%)
They have said they will accept £1149 (a reduction of 25%)

Are we stuck having to accept that amount or is it worth re-offering a lower F&F, especially given our change in circs and the fact they have taken 6mths to get back to us?

Willing2Learn

Yes, of course you can make a counter-offer. In fact now is a good time to be making a deal, as it is near the end of the financial year and it will enable the DCA to clear an account from their books. Obviously, still mention the change of circumstances, so as to apply maximum leverage.

Suseka97

Might be worth adding something in about the change in your financial situation to make the point that if they do not accept the F&F then you will only be making payments of x per month - in line with your SOA.

sourcrates

redmel1621 wrote: »

I'm not exactly sure why it has taken them 6mths to get back to us either.

I'm not really sure what to do.

Well, when you look at the figures its quite startling, over 1 million people default on student loans each year, that`s each and every year, so that`s an aweful lot of debtors to chase up, nothing moves fast in the debt collection world, just advise of your change of circumstance and wait for there reply.