We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Anyone had settlement offers accepted during Covid?
zenshi
Posts: 1,133 Forumite
I have written to my creditors explains that I can’t make the payments for the foreseeable as I currently can’t work during the Covid crisis. My son has offered me a small lump sum to try and clear them. The settlement offer letters are being posted today
what I was wondering/hoping is.... due to many people not being able to pay, they might be more likely to accept an offer to keep money coming in
. I may be on a hiding to nothing but for 4 stamps, figured it’s worth a shot. Anyone had any luck recently?
what I was wondering/hoping is.... due to many people not being able to pay, they might be more likely to accept an offer to keep money coming in
. I may be on a hiding to nothing but for 4 stamps, figured it’s worth a shot. Anyone had any luck recently?
LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
0
Comments
-
Some have. Some haven't.
Much depends on your unique case.0 -
did you have any success?zenshi said:I have written to my creditors explains that I can’t make the payments for the foreseeable as I currently can’t work during the Covid crisis. My son has offered me a small lump sum to try and clear them. The settlement offer letters are being posted today
what I was wondering/hoping is.... due to many people not being able to pay, they might be more likely to accept an offer to keep money coming in
. I may be on a hiding to nothing but for 4 stamps, figured it’s worth a shot. Anyone had any luck recently?0 -
Only had one reply so far asking for more info about my situation. This is being passing to debt owner and should have answer next week apparently.LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,7640 -
Result....10% offer accepted for a debt still owned by the original creditorLBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,7643 -
Well done.
Bottom line;
£49k paid off
Car HP paid off
Debt Free!
Saved Escape fund and moved out.
Current focus; saving Emergency fund0 -
Any more successes from these letters?0
-
Nope, Link offered 10% off which is a no go for me. The other I haven’t heard diddly squat From for 3 years. Will try again in a year or so when I may have fundsHalfwaythere said:Any more successes from these letters?LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,7641 -
Hi zenshizenshi said:Result....10% offer accepted for a debt still owned by the original creditor
If u don't mind me asking, how old is this debt?0 -
All my debts defaulted 6 years ago and are just about to or have fallen off my credit record. They were only paid a token amount Per monthsmallie210 said:
Hi zenshizenshi said:Result....10% offer accepted for a debt still owned by the original creditor
If u don't mind me asking, how old is this debt?LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,7640
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards