question

pretzelgirl

was wondering if anyone could give a little advice,my oh owes 10k his parents have put 10k into his bank account but he wants to offer a reduced settlement,is there any way that the companies that he owes can delve into his bank account to see how much is in there.none of the creditors are connected to his bank.

katyw

I believe the answer is no. I've heard horror stories on here if the creditor is attached to your bank, but not if they have no connection.

There are some great threads here on offering 'full and final settlements'. I would suggest you give them a read, as only getting a partial settlement is not good.

Good luck x

Runnybabbit

Hi, I've got a thread going at the mo about F&F Settlement - I have been offering around the 50% figure, BUT many will tell you to perhaps start at a lower rate - I think it might depend on your total debt. If you need any template letters for offering F&F please let me know.

GeorgeUK

If you are delaing with the original creditor, then 50% + would be the starting place. For DCA's start lower - they're probably already doubling or tripling what they paid if you offer 30%

stapeley

More details please , whos debt with ?

Bismarck

pretzelgirl wrote: »

was wondering if anyone could give a little advice,my oh owes 10k his parents have put 10k into his bank account but he wants to offer a reduced settlement,is there any way that the companies that he owes can delve into his bank account to see how much is in there.none of the creditors are connected to his bank.

no.

unless the savings are in the same organisation then they'll have no idea (thankfully!) - just be careful as some organisations own subsidiaries more than you think!

good luck with the settlement!

lindens

My Ex-Oh went about F&F the wrong way and offered 50% over the phone with his debit card, the following week they took the rest of what he owed out with his debit card, when he went to his bank he was told tough.

Always get it in writing and better to pay by cheque.

pretzelgirl

stapeley wrote: »

More details please , whos debt with ?

tesco personal finance,rbs , the halifax,and barclay card,.....all i believe are on credit cards,

Oldernotwiser

What's he planning to do with the money that's left over if reduced payments are accepted?

pretzelgirl

he is paying off another?? outstanding bill,that is causing him much grief..

pretzelgirl

thanx 4 all advice,its very much appreciated,dealing with this is a minefield.