Jacamo settlement advice 23 February 2022 at 5:58PM in Debt-free wannabe 6 replies 253 views

DFWJane

Has anyone experience of a settlement offer with this company, or any JD Williams?  Will they negotiate, what’s a good percentage to start at?

[Deleted User]

How old is the default? Are you making any payments at all?  

You'll have a better chance of a settlement once it's sold on.

DFWJane

I made an arrangement to pay reduced 4 weekly amounts about 18 months ago.  These are up to date.  

sourcrates

They don`t do settlements, original creditors rarely do, much better chance once the debt gets sold, as explained above.

DFWJane

Deleted_User said:

How old is the default? Are you making any payments at all?  

You'll have a better chance of a settlement once it's sold on.

I’ve been making reduced payments for about 18 months, these are up to date.  Interest frozen.  I’d like it off my credit report though as I want to get in a good position for a mortgage. 

DFWJane

sourcrates said:

They don`t do settlements, original creditors rarely do, much better chance once the debt gets sold, as explained above.

Thank you, I wonder how long before they sell it on?  

TripleH

How long until the amount is paid off at the current rate?

The longer it is before the amount is paid off, the more likely it is sold on.

In my opinion, if you have an old debt with the original company that you're paying off and there is still a long time before it's repaid, if you're going to try your luck, submit your request a month before year-end. This is more likely to work when they are reviewing their debt book before year-end and if you offer more than they'd sell it on for, you 'might' get lucky. If it is a plc this is more likely to be successful as they have a shorter time to prepare accounts but I have no evidence it will work, just my opinion.