Full and not so Final.

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Hugh2
Hugh2 Posts: 18 Forumite
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edited 18 October 2019 at 8:22PM in Debt-free wannabe
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.

Comments

  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    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

    :smiley:
  • Hugh2
    Hugh2 Posts: 18 Forumite
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    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
    Willing2Learn Posts: 6,294 Forumite
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    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

    :smiley:
  • Hugh2
    Hugh2 Posts: 18 Forumite
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    Yes I am - stopping this month. Only found out about there being no CCA.

    Thanks again. Much appreciated
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    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

    :smiley:
  • January2015
    January2015 Posts: 2,369 Forumite
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    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 :eek: Now debt free and happy :j
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