Defaults Running Out

bcs7

It appears that all the defaults I have will run out between Feb-May 2027, so in about 18 months.
Does this make any difference when making F&F offers? Or is it not going to make any difference to creditors?
All 5 of my remaining debts have been CCA'ed and they provided the paperwork so I'm currently paying small amounts to the debts and trying to get discounts on F&F's.

sourcrates

The only difference it will make is that after 6 years all credit reporting will cease.

So any deal you do to settle your debts will not affect your credit report in any way, shape or form.

So the advice would be to settle for as little as you possibly can.

RAS

are they making any discount offers?

Rob5342

In itself it won't make any difference but as time goes on they will become more likely to want to get rid of your debts. I wouldn't be in any rush to clear them, take your time and settle for as little as you can. 

bcs7

Rob5342 said:

In itself it won't make any difference but as time goes on they will become more likely to want to get rid of your debts. I wouldn't be in any rush to clear them, take your time and settle for as little as you can. 

That's answered my main question. Basically the defaults dropping off are not going to influence what they do in terms the offers they give me. So it looks like it's just going to be a game of patience and paying not much until they start getting desperate as more time goes on.

bcs7

RAS said:

are they making any discount offers?

I've had some counter offers which range from 45% off to just 10% off.
I'm not even going to consider them until they're more than 50% off, but looking for more like 60-70% off.

This is the current state of the offers I've received:

Debt - % To pay
£770 - 40% (£308) - I've agreed this and now just have 1 last payment next month for it to be paid off.
£1200 - 90% (£1080) - a pretty poor discount, I assume because it was an overdraft and couldn't be CCAed.
£1600 - 55% (£880) - not bad but don't have the money yet, and would like it to be closer to 40%.
£4600 - 77% (£3542) - don't have enough to pay yet, and looking for below 50% anyway.
£9800 - 60% (£5880) - don't have enough to pay yet, and looking for below 50% anyway.
£16600 - 90% (£14940) - another awful discount, don't have enough to pay yet, looking for below 50% anyway.