Hoping for advice on which debt plan is right for me?

Grumpelstiltskin

Don't waste money on recorded delivery, just ask the post office for proof of posting which is free.

oatsinthewater21

Grumpelstiltskin said:

Don't waste money on recorded delivery, just ask the post office for proof of posting which is free.

Good to know! Thank you 😁

Is sending it to the head office the right place? 

Grumpelstiltskin

oatsinthewater21 said:

Grumpelstiltskin said:

Don't waste money on recorded delivery, just ask the post office for proof of posting which is free.

Good to know! Thank you 😁

Is sending it to the head office the right place? 

Yes as long as you put your reference number on, it's up to them to get it to the correct section.

oatsinthewater21

So I’ve had a reply from one of the debt collection agencies following on from my “prove it” letter, they have just sent me copies of my loan agreement and statement of accounts with the creditor & that I must pay the amount and they want me to send a financial statement with an income and expenditure form (which I remember someone saying I’m not obliged to send them this at all) 

Would I now send a letter back to say I will be paying them £1 per month which is all I can afford and I will review my situation with them again in 3 months time? 

I have also had a different debt collection agency, who I haven’t had a chance to send my “prove it” letter to just yet, contact me with a settlement offer for the account but I can’t find out how much the settlement would be unless I call them. 

I believe I've seen someone say on these forums not to accept the first offer of settlement, as they will propose a better offer in months/years to come. After I have sent the “prove it” letter to this debt collection agency, how would I go about the settlement side of things? 

Thank you for all your help so far!  

fatbelly

It's best to take the lead with settlement offers.

So you tell them in writing that you can pay say 30%

They say they want 70%.

Then you can negotiate. If you're happy with 50% that may be do-able

On the response to the prove-it, does what they have sent you show you how they have arrived at the figure they are claiming?

oatsinthewater21

@fatbelly thank you that’s great! Would it be best to do this via email/letter so there’s a paper trail or do I have to call them as they say to discuss a settlement?

Yes this is the document they have sent me detailing all the figures 

RAS

Do you accept that this is an account that you opened? 

oatsinthewater21

@RAS Yes it is an account I opened with the creditor 

sourcrates

They sure like to go into detail with their array of spreadsheets.

With 7 late payments, that account should be defaulted by now.

oatsinthewater21

@sourcrates hahah tell me about it!

I thought the same, but it hasn’t defaulted on my credit reports as of yet! Only 2 out of 5 creditors have defaulted and this isn’t one of them