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What percentage for Full & Final Settlement
mrskingandthescarecrow
Posts: 105 Forumite
Hi, I wanted to make an F&F offer to some of my smaller creditors to settle my debts with them.
Was just wondering what percentage is the norm that would be accepted?
I was in an IVA but that's gone *£$% up with a change of circumstances so their alternative would be about 20% from the IVA.
Any help would be greatly appreciated.
Many thanks
Was just wondering what percentage is the norm that would be accepted?
I was in an IVA but that's gone *£$% up with a change of circumstances so their alternative would be about 20% from the IVA.
Any help would be greatly appreciated.
Many thanks
Debt in 2008 - £97,417 :j*DEBT FREE - SEPTEMBER 2016*:j
#107 - Save £12k in 2017 Challenge - £2,315.22/12000
HOUSE DEPOSIT - £6,499.76/20,000
#107 - Save £12k in 2017 Challenge - £2,315.22/12000
HOUSE DEPOSIT - £6,499.76/20,000
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Comments
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Don't have any experience with F&Fs, but with any other haggling, you start as low as you can..... I would probably start with about 10/15% and see where you get to from there
HTH'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde0 -
Hi
I think the norm is to start at around 30%. This is what I ahve done and so far no-one has agreed. I am sticking to 30% for the next round of letters, and then im going to leave it for a while and then try 30% again.
This may help
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers
xDebt: just my mortgage
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