Advice for debt

HOUSER2280

I was absolutely gobsmacked the dropped from £33k to £3k.  I was amazed at that but any lower would be even better of course.

ayupmeduck

To be paid in one go or can you set up a payment plan? One of my credits drastically dropped my balance and I could set up a plan rather than pay in one go. 

HOUSER2280

They want it paying by the 15th Feb to settle it. As RAS has mentioned I'm going to negotiate.  The fact they have dropped from £33k to £3k suggests they want this to end as much as me.

sourcrates

Its an old loan, they have had their money back tenfold by now.

You have stated to them, your "anxiety levels are going through the roof"

this will have triggered them to act, as they may now be thinking you will default on the loan, and use mental health and affordability issues as a reason not to pay.

And its quite likely they would not pursue this matter if you did that.

HOUSER2280

Thanks Sourcrates.  I will let you know the outcome.  I really just didn't think this could happen. I would love to know what they did actually pay for the debt.  

sourcrates

HOUSER2280 said:

Thanks Sourcrates.  I will let you know the outcome.  I really just didn't think this could happen. I would love to know what they did actually pay for the debt.  

It averages out at around 10p-12p in the £ most debt purchasing companies pay for defaulted debts.

Literally pennies in the pound.

HOUSER2280

So basically they are buying debt for 10% of what is actually owed.  That's crazy.  Certainly makes me want to negotiate even more now knowing I've been laying them for 8 years already.  £3k is a great starting point.

ManyWays

Honestly if you can afford 3k I would just grab this. 

HOUSER2280

Don't worry I've got to the 15th Feb to be honest to pay that (supposedly) will have one last negotiate and see what they say.  I would snap their hand off with the £3k I'm sure I can find it with help.

HOUSER2280

Hi all, just wanted to thank everyone for their help and advice on here.  After to back and forth I agreed a settlement with Intrum.  Was absolutely amazed at the amount they agreed to. Makes me wonder if they would have accepted less but I'm really not complaining.  8 years of me getting myself out the brown stuff has now come to an end.  Thanks again everyone.

Dear ******,

 Thank you for your reply.

Thank you for your settlement offer of £1,500. Taking into consideration all of the information you have provided to us, we have made the decision to accept your offer.

 I understand that you may be able to make this payment this afternoon, please confirm how you would like to make this payment. Please be assured that if you are unable to make this payment this afternoon, please let me know and I can hold the account until the 31st January 2025.