Cccs Dmp

Jindebt

hi all well ive been working on my plan for a good 5 months now. and feel so much better that this weight is being lifted

my parentys have helped me out and now have £5000 i currently still owe £5780.77 to 4 creditors.

do you think they are likely to take the £5000 split to get rid of the debt. i am going to be so nervous waiting for the replies.

anyone had experiences in full and final settlements before??

thanks everyone

Deep_In_Debt

Hi. I would think that you should be able to clear your debts with full and final settlements with the amount that you have - but don't tell the creditors how much you have though! I'm not really up on this.

I will be in a similar situation soon. I'm being made redundant after nearly 12 years with my company but my redudancy is a bit short of what I owe so am hoping to go down the same route with full & final settlements. I'm on a DMP with CCCS too and I believe they have a department that deals with this, so it may be worth giving them a call to see what they suggest.

kazd

Write to your creditors and offer a full and final settlement but maybe offer them 50% of what you owe them, you might end up with a little left over for yourself.

I helped my sister with her finances and we got a full and final on a mortgage reposession. It will only cost you the price of a stamp. Tell them you have had an offer of help from a relative but do not tell them that you have £5k.

They will have earn't more than enough off you in interest.

jopwo_87

I have been offered a f&f settlement this morning on a £3500 debt. instantly i was offered £2500, i got them down to £2100!!

just be insistant that its in everyones best interests!!

stapeley

Are the accounts with a DCA ? If they are , have you requested the CCA from them . That may be the best starting point , the accounts would be put on hold until a true signed copy of the CCA was supplied .You may find some of the debts unenforceable . What ever happens with the CCA you still have the lump sum to fall back on . But do not make any offers at this stage and do not offer anything like 60 % good luck

Jindebt

DCA? CCA? whats these letters lol

litterally just starting with offers and all this lot today!

really not offer anything like 60%??

loan = £3000 left to pay. how should i work out what to offer?

thepinkladez_2

not done this yet ! but hope to soon! looking through other threads on hear people say to start at offering them only 30% of the debt and work up from there. guess not many are likely to only want 30% but guess its worth starting there, you never know you might get lucky and have enough left over to start a saving account or something.

thepinkladez_2

Jindebt wrote: »

DCA? CCA? whats these letters lol

litterally just starting with offers and all this lot today!

really not offer anything like 60%??

loan = £3000 left to pay. how should i work out what to offer?

DCA = debt collection agency

CCA- Credit agreement

hth x

Jindebt

ah right.

Loan is Credit Agreement
Barclays is just changing to DCA
Lloyds is Agreement
CL Finacne is DCA

CCCS_Matthew

Hi Jindebt,

If you are in the situation where you may have a lump sum to be able to offer to your creditors, I would suggest to give us a call. We can give you some advice on how to go about approaching the creditors, and also supply you with a template letter to use.

Hope this helps,
CCCS

Jindebt

CCCS_Matthew wrote: »

Hi Jindebt,

If you are in the situation where you may have a lump sum to be able to offer to your creditors, I would suggest to give us a call. We can give you some advice on how to go about approaching the creditors, and also supply you with a template letter to use.

Hope this helps,
CCCS

i have read though the template online. i am hoping to be in a position to make the offers soon.

how does your online calculator work? does it use a %age?

regards