Partial settlement with debtors

Autumnia

Hello all, 

I am considering offering a partial settlement to my 3 creditors at some point this year, however, does anyone know the following: 

- Is it worth tempting to offer a 5% or 10% settlement? 
- Will the creditors ask for any documents as evidence? 
- If so, what proof can they ask for? Like for example, can they ask to be sent bank statements or can they access your bank accounts? 
- If offered a certain amount of money and they refuse the settlement, could they ask you to give the money anyway as it is in bank account? 
- Does the money need to be from someone else? For example, if it is money I have saved, would they refuse a settlement and ask to pay more as they know I have savings and I am on DMP with them. I only have £900 savings in case, no crazy amounts.

What would be the best way to do this? 

Thank you. 

ManyWays

How long ago did these debts default and have they been sold to debt collectors? How much are they getting paid a month in the DMP, if they are getting £30 a month they aren't likely to accept £150 to settle as they would get that much in less than 6 months anyway. It can help if you say the money is from someone else or is a specific windfall eg a refund you got from something or a bonus. 

Autumnia

1 defaulted in June 2012 and the other one in July 2021 and the last one was interest free and don't appear on my credit report. 

I have contacted the original debt companies though as they didnt put my account as defaulted when I joined my DMP which was in January 2020 so hopefully they can backdate so I won't have as long to wait for the 6 years. 

Yes the debts have been sold. 

Right now, one is £54ish
Second one £45ish 
Last one £2ish (interest free one)

But because of mortgage increase, an extra £500 unexpected invoice from maintenance, all the usual increase with water, council tax, ohone etc, it is going to be much lower (my husband has been made redundant in september and still not found a job so what i've been paying right now -amount detailed above - is already lower than what I used to.

The DMP already cancelled my payment for april i will just have to do a manual payment of whatever i can afford and will do that again if still in a bad situation in May, which is why I was wondering if being in this current situation might make them more encline to accept a low offer. 

ManyWays

I suggest you readjust your payments to an affordable amount, or a token £1, before making a settlement offer