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Anyone had settlement offers accepted during Covid?

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Anyone had settlement offers accepted during Covid?

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zenshizenshi Forumite
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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?

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

Replies

  • zx81zx81 Forumite
    30.4K posts
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
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    Some have. Some haven't.

    Much depends on your unique case.
  • isitme?isitme? Forumite
    7 posts
    Eighth Anniversary First Post Combo Breaker
    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?

    did you have any success? 
  • zenshizenshi Forumite
    1.1K posts
    Tenth Anniversary 500 Posts
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    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) £37,764
  • zenshizenshi Forumite
    1.1K posts
    Tenth Anniversary 500 Posts
    ✭✭✭
    Result....10% offer accepted for a debt still owned by the original creditor
    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
  • KakisteKakiste Forumite
    301 posts
    100 Posts Name Dropper
    ✭✭
    Well done. :) 
    Bottom line; 
    £29,449 paid off 
    £19,557 left to go. 
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • HalfwaythereHalfwaythere Forumite
    72 posts
    10 Posts First Anniversary Photogenic
    Any more successes from these letters? 
  • zenshizenshi Forumite
    1.1K posts
    Tenth Anniversary 500 Posts
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    Any more successes from these letters? 
    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 funds
    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
  • smallie210smallie210 Forumite
    30 posts
    Seventh Anniversary 10 Posts Combo Breaker
    zenshi said:
    Result....10% offer accepted for a debt still owned by the original creditor
    Hi zenshi

    If u don't mind me asking, how old is this debt? 
  • zenshizenshi Forumite
    1.1K posts
    Tenth Anniversary 500 Posts
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    zenshi said:
    Result....10% offer accepted for a debt still owned by the original creditor
    Hi zenshi

    If u don't mind me asking, how old is this debt? 
    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 month
    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
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