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  • FIRST POST
    • Hugh2
    • By Hugh2 18th Oct 19, 8:18 PM
    • 15Posts
    • 1Thanks
    Hugh2
    Full and not so Final.
    • #1
    • 18th Oct 19, 8:18 PM
    Full and not so Final. 18th Oct 19 at 8:18 PM
    I made a 25% f&f offer on an unenforceable debt.

    Even though the company had asked me three times in the past if I wanted to make
    a F&F, today they asked why I wanted to pay a F&F? On top of that, they want a budget breakdown and they want to know what I'm offering other creditors.

    Any suggestions please?

    Hugh.
    Last edited by Hugh2; 18-10-2019 at 8:22 PM.
Page 1
    • Willing2Learn
    • By Willing2Learn 18th Oct 19, 8:24 PM
    • 4,647 Posts
    • 4,195 Thanks
    Willing2Learn
    • #2
    • 18th Oct 19, 8:24 PM
    • #2
    • 18th Oct 19, 8:24 PM
    I think you are being over-generous offering 25% on an account that is unenforceable. If it were me, the offer would be 10%.

    Seeing you are where you are, then I would simply write to them stating that they will not get any movement on an unenforceable debt, reiterating 25% is the best offer they will get.

    If they decline, you can just keep the money aside in an account that earns you interest, waiting for your creditor to fall into line.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Hugh2
    • By Hugh2 18th Oct 19, 8:35 PM
    • 15 Posts
    • 1 Thanks
    Hugh2
    • #3
    • 18th Oct 19, 8:35 PM
    • #3
    • 18th Oct 19, 8:35 PM
    Thanks Willing2Learn

    I've no intention paying more but I really don't see why they want to know what I'm offering everyone else and where I'm getting it from. If I'm on a DMP don't they get sent my budget automatically?

    H
    • Willing2Learn
    • By Willing2Learn 19th Oct 19, 2:03 PM
    • 4,647 Posts
    • 4,195 Thanks
    Willing2Learn
    • #4
    • 19th Oct 19, 2:03 PM
    • #4
    • 19th Oct 19, 2:03 PM
    Wait a minute. You're on a DMP? I hope you have stopped making monthly payments to this unenforceable account. And you don't need to provide them any additional info to process your f&f...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Hugh2
    • By Hugh2 19th Oct 19, 2:05 PM
    • 15 Posts
    • 1 Thanks
    Hugh2
    • #5
    • 19th Oct 19, 2:05 PM
    Thanks
    • #5
    • 19th Oct 19, 2:05 PM
    Yes I am - stopping this month. Only found out about there being no CCA.

    Thanks again. Much appreciated
    • Willing2Learn
    • By Willing2Learn 19th Oct 19, 2:08 PM
    • 4,647 Posts
    • 4,195 Thanks
    Willing2Learn
    • #6
    • 19th Oct 19, 2:08 PM
    • #6
    • 19th Oct 19, 2:08 PM
    In that case, once you have stopped payments to the unenforceable account, I would recommend making another f&f offer 6-12 months down the line. Nice and low. They will be more likely to accept a low offer after regular payments have been halted. Extra leverage you see...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • January2015
    • By January2015 22nd Oct 19, 12:42 PM
    • 2,351 Posts
    • 5,555 Thanks
    January2015
    • #7
    • 22nd Oct 19, 12:42 PM
    • #7
    • 22nd Oct 19, 12:42 PM
    Definitely agree with Willing2Learn Just stop communicating with them. Write to them and advise you formally request they only communicate via written letter. Personally, I would receive any such letters, read them, make sure they are still not enforceable, and file them. That's it. I wouldn't bother paying them anything.

    If you want to settle - 6 months to a year down the road make a measly offer. They will bite your hand off.

    As for all the questions, creditors have a duty to check you are not going into more debt to clear their debts, and when in DMP all creditors are supposed to be treated equally..... note the 'supposed' in that sentence as you can settle one debt over others quite easily.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was 95k I'm driving it down
    1k emergency fund (member #84) 1k/1k
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