DMP early repayment help!

Fluffysquirrels

sourcrates said:

Fluffysquirrels said:

Fluffysquirrels said:

Thank you. Yeah they are all defaulted now and all bar 2 have been sold on. 

Some of the defaults were registered in 2021 but sadly some only defaulted in 2023. I thought the 6 years would be up after 2021, so in 2027. But it will be 6 years after 2023 won't it. 

I should add, I currently have 8 debts, 6 sold on, 2 not. I did have 10 but 2 were snapped so have already been completed. 

Snapped??? what does that mean?

As for your credit file, I was assuming you were asking about liability once accounts drop off your file, if you have been paying them, they won`t become statute bared, only 6 years without any payment can achieve that.

I'm not sure where snapped came from, I'm sorry. Predictive text! I meant they were smaller amounts so we're completed earlier than the larger amounts. 

Ah I see. No sorry, I was asking about my credit file because I was wondering if I paid a F&F settlement rather than the full amount will it have a negative impact on my credit score? Weighing up if it's worth paying the debt in full to improve my credit score in the future. If that makes sense? 

Fluffysquirrels

Grumpelstiltskin said:

Stepchange will want you to pay as much as possible, handling it your self ( you will get as much help as possible on here ) means you can probably get away with paying less, more money in your pocket the better.

Grumpelstiltskin said:

Stepchange will want you to pay as much as possible, handling it your self ( you will get as much help as possible on here ) means you can probably get away with paying less, more money in your pocket the better.

Grumpelstiltskin said:

Stepchange will want you to pay as much as possible, handling it your self ( you will get as much help as possible on here ) means you can probably get away with paying less, more money in your pocket the better.

I see. Thank you very much for your help 

Grumpelstiltskin

Fluffysquirrels said:

I'm not sure where snapped came from, I'm sorry. Predictive text! I meant they were smaller amounts so we're completed earlier than the larger amounts. 

Ah I see. No sorry, I was asking about my credit file because I was wondering if I paid a F&F settlement rather than the full amount will it have a negative impact on my credit score? Weighing up if it's worth paying the debt in full to improve my credit score in the future. If that makes sense? 

Forget your credit score. It's a made up figure only you see it's your credit report that matters.

tigergambit

@Fluffysquirrels In answer to your original question I think you should be "receiving help from family" of £3,500 or thereabouts to offer as F&F. You need to prepare your SOA to show that this is a good deal for creditors coz they'll want to see that and brace yourself for protracted negotiations.

Once you make an offer STOP paying until negotiations are settled or exhausted.