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Making An Offer To Repay Debt
GP1983
Posts: 103 Forumite
Hey everyone
I have a number of debts which I'm paying off on a monthly basis. Bit by bit I've been chipping away at them. They are as follows:
Current levels:
OPOS LTD - £240.09
Advantis -£119.00
TalkTalk (can't recall collection agency's name) - £162.36
Ebay - (can't recall collection agency's name) - £275.81
Total: £797.26
These are all being handled by Collection Agencies and I agreed a £5 per month payment plan, which I've been paying off over the last 3 years. (I had to prioritise other debts at the time, like Council Tax, etc.)
The debts were originally passed to the collection agencies in/around June 2016.
If I was to offer an amount to clear each one (I'm thinking 50%?) and they accepted, I understand this would go onto my Credit File as 'partially paid/settled'.
My credit rating is already poor but slowly recovering.
My question is whether this 'partially paid' will negatively affect me in the future. As I said, it's already poor so I doubt it. Wondered if anyone could shed some light on this?
Thanks in advance.
I have a number of debts which I'm paying off on a monthly basis. Bit by bit I've been chipping away at them. They are as follows:
Current levels:
OPOS LTD - £240.09
Advantis -£119.00
TalkTalk (can't recall collection agency's name) - £162.36
Ebay - (can't recall collection agency's name) - £275.81
Total: £797.26
These are all being handled by Collection Agencies and I agreed a £5 per month payment plan, which I've been paying off over the last 3 years. (I had to prioritise other debts at the time, like Council Tax, etc.)
The debts were originally passed to the collection agencies in/around June 2016.
If I was to offer an amount to clear each one (I'm thinking 50%?) and they accepted, I understand this would go onto my Credit File as 'partially paid/settled'.
My credit rating is already poor but slowly recovering.
My question is whether this 'partially paid' will negatively affect me in the future. As I said, it's already poor so I doubt it. Wondered if anyone could shed some light on this?
Thanks in advance.
0
Comments
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Six years from the date of default the entire lot will disappear off your credit file anyway, so how they were settled will become irrelevant.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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Thanks for your help! What would you recommend offering them? Is 50% reasonable? Thanks again.0
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Usual advice is to start low, around 30%, you can always go up.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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Thank you for your help. :beer:0
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