What % did YOU settle for?

jubo

Im looking to make a final settlements offer to the following creditors

MBNA 9K
Capital One 7K
Barclays loan and overdraft 7K

I would be very interested to learn what percentages others managed to settle at, and how they went about it (i.e. time scale, by phone/letter, slowly raising offers etc), as it seems like a bit of a crazy game with no rules

vwman_3

Your final settlements as you put them are going to be what you owe in full...other than perhaps the loan

jubo

Not sure I understand?

Ive been advised by the CCCS bankruptcy is the best option, but theres possiblity, with personal help to make a part payment offer, which seems would be best for everybody. I hope that makes sense.

bigstevex

Wrong forum, you need the debt free wannabe forum

fatbelly

Some confusing posts here...

OP, take a look at this thread:

http://forums.moneysavingexpert.com/showthread.html?t=115430

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Burlesque_Babe

what stage are they at? If they are still at the monthly payment to the original creditor (ie you aren't behind) then you won't be in a position to offer F+F settlements.

If they are with debt collection agencies, I would start at 30%, they will have bought the debt at around 3% or so of the original amount. You might also want to look at asking them for the CCA.