What to do

Winkflower

Unfortunately I'd started stepchange before finding this page.
The aqua ones and marble don't seem to be on srrangement to pay

Trying to work out a plan from now to mentally keep gping

Defaulting on all is one plan but trying to understand the benefit this far in I showing as normal and open.

Thanks again

sourcrates

If your strategy is to part settle these debts, as cheap as possible, then you can`t simply expect them to accept such low offers straight away, especially when you can`t provide sufficient reasoning for them to do so.

No, you will need to play the long game here, and put a plan into action whereby when you make your next offer to them, and they ask about your circumstances, you have a scenario in place, that will greatly help you achieve what you are after.

Pre-planning is crucial to success, so you must convince them that your circumstances are that bleak, it would be much more commercially viable for them to accept you low offer now, rather than the possibility of monthly payments over a longer period, so for example, you may have recently had your hours cut at work, and your company may be looking to downsize, so your job could be at risk, this could lead to lower take home pay, as a result of this you are currently 3 months behind on your council tax, and 4 months behind on your Gas and Electricity bills, you are sometimes short of money for food, and basically have had to cut back on your spending across the board.

That`s just one possible scenario, you need to be imaginative, and work on it, make it convincing, the goal is to make them think they are getting the best deal possible out of your misery, so make it blooming miserable, and remember, the money is a gift form a family member, and you do not have to evidence any proof of what you tell them, that is how you get the kind of settlement deals you are looking for.

ManyWays

did you ask for the CCAs for the debts that weren't sold? I am thinking of that large HSBC debt, was that a pretty old credit card?

You have cleared half the debt in three years. If you can find some more bits of money, you can clear the rest faster... it may not be what you had hoped for, but it will have dug you out of 40k of debt. 

If you really want to get low settlement offers accepted, it's better to try to REDUCE what you are paying to the debts. At the moment the creditors are all sitting comfortably seeing that amount roll in each month. 

Since you started the DMP, have you acquired any other debts? Have your children got older so you need to be able to give them more pocket money or pay for school trips? Is your car older and you need more money for servicing it? Has your income kept up with the cost of living or is grocery shopping a constant problem? I am looking for ways you can up your budget and so pay less, then you could save up more for offers. 

But you don't have much time for this. By this time next year, you will be only 2 years from paying the DMP and thats even less incentive for a creditor to accept less. 

Winkflower

Thankyou both.
Since I've gone sleep managed I'm paying £5   to all apart from £50 to hsbc.
But have £300 available now.
So have paid £27 in 4 years (rather than 3 as was Feb 2022) but will currently take a lot more than 3 at the current amount paying.
So in some way am now doing a much longer game.
My children are hugely more expensive and costs have gone up but with 300 wondering what to tackle and how.
Wondering whether to not let th aquas, very Marbles defualt at this stage as 4 years ahave passed or if should let them.
Wondering whether to try to get rid of the very 1st as delinquent and to save it defaulting.
These are things unsure of but @sourcrates definitely taking wjat you are saying on board as is the truth in expenses gping up.
Just at a point where flagging and looking for encouragement bit also adve re the above Defaults at this stage 
I realise ap markers are 6 years fron paid off and defualts 6 years in total but did not have this info at the me and now 4 years next month in
I'd like to snowball as mentally helps but not sure if best.
Thanks so much all
Wx

Winkflower

All of the ccas were asked for includong the 5.5k hsbc was a loan via hsbc which is now with their repayment services.
The 1k hsbc cc was provided via moorcroft

JibberdyDacodo

Grumpelstiltskin said:

Like I have explained an Arrangement to Pay doesn't go from your credit report until 6 years after the final payment, so if it takes you another 3 years to clear your credit report will not be clear for 9 years. With a default it disappears 6 years from the date of the default even if you never pay another penny towards the debt.

This is why we always say wait until the debt has defaulted before starting to repay it.

But it's NOT showing as an Arrangement to Pay.

I've had same experience with Aqua, where I was paying 1% of the balance and it's showing as up todate (not late/AP/default).