Final Settlement Offers

Crazycat89

Hi All 👋🏻 

I’ve recently been working to settle some of my outstanding creditor accounts now they have fallen off my credit file. I’m down to the last four (having settled/cleared four) and recently sent a full and final settlement offer to two which belong to M&S Bank (loan) and HSBC Repayment Services (CC). To note these are the original creditors. I wrote to them both on the 04/07 offering to settle with 70% of the balance but as of yet have heard nothing back.

Im still paying my DMP at £150 and don’t really want to cancel this but wonder if this is the issue or is it just normal they haven’t responded in this time?

Should I follow up with another letter and if so do I just reiterate the point and resend the original offer?

Any assistance would be welcomed.

Many Thanks ☺️ 

Grumpelstiltskin

You have a few problems, firstly the debts are still with the original creditors.

Secondly you are still paying them and thirdly you offered too much.

Our usual advice is to stop paying, wait until they have been moved on to another company and eventually offer a low, maybe 20% offer.