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  • FIRST POST
    • zenshi
    • By zenshi 10th May 18, 12:04 PM
    • 1,001Posts
    • 1,990Thanks
    zenshi
    No discount F and F as balance low!
    • #1
    • 10th May 18, 12:04 PM
    No discount F and F as balance low! 10th May 18 at 12:04 PM
    Wrote and offered settlement of approx 30% for a debt just under £300. Had call from DCA, I took it as hoping they’d agree. Lady on phone said they don’t do discounts on debts lower than £500

    Is this the norm? Anyone else came across this situation?

    She said they’ll respond to my letter in writing, so will see their wording soon I hope
    LBM.....sometime in 2013 £27,056. 10 creditors
    June 18......£16,989.....6 creditors left 40% paid

    £26,200 on interest only part of mortgage (July 16)...will chip away £22,734
    £49,200 repayment mortgage ( July 16) £43,881
Page 1
    • StokieBecks
    • By StokieBecks 10th May 18, 12:18 PM
    • 4,544 Posts
    • 27,341 Thanks
    StokieBecks
    • #2
    • 10th May 18, 12:18 PM
    • #2
    • 10th May 18, 12:18 PM
    How much are you paying towards the debt at the moment? If the debt will be cleared with regular payments in a reasonable time frame they are unlikely to accept any settlement offers unfortunately
    • zenshi
    • By zenshi 10th May 18, 12:28 PM
    • 1,001 Posts
    • 1,990 Thanks
    zenshi
    • #3
    • 10th May 18, 12:28 PM
    • #3
    • 10th May 18, 12:28 PM
    I’m paying £5 per month which will take just over 4 and a half years to clear. Debt was sold by OC a year ago
    LBM.....sometime in 2013 £27,056. 10 creditors
    June 18......£16,989.....6 creditors left 40% paid

    £26,200 on interest only part of mortgage (July 16)...will chip away £22,734
    £49,200 repayment mortgage ( July 16) £43,881
  • National Debtline
    • #4
    • 10th May 18, 5:21 PM
    • #4
    • 10th May 18, 5:21 PM
    Hi Zenshi,


    Full and final offers are at the discretion of the creditor, and if this is their policy, it may be something they are not willing to consider. Unfortunately, that happens sometimes, however, wait for the letter. It is possible that someone with more authority may look at it and may be willing to discuss your offer.

    With full and final offers you need to make sure that they confirm, in writing, that they will not chase you for the shortfall, not pass the debt onto anyone else to chase it and they will mark your credit file as £0 and partially settled. You must get this accepted in writing before you send any money. Good luck,


    Laura
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • iolanthe07
    • By iolanthe07 11th May 18, 1:52 PM
    • 5,041 Posts
    • 4,731 Thanks
    iolanthe07
    • #5
    • 11th May 18, 1:52 PM
    • #5
    • 11th May 18, 1:52 PM
    I'm not surprised that they won't do a F & F for such a trifling amount, couldn't you just pay it off and be done with it?
    I used to think that good grammar is important, but now I know that good wine is importanter.
    • zenshi
    • By zenshi 11th May 18, 3:01 PM
    • 1,001 Posts
    • 1,990 Thanks
    zenshi
    • #6
    • 11th May 18, 3:01 PM
    • #6
    • 11th May 18, 3:01 PM
    If I had enough money I would clear but I don’t therefore trying for an offer
    LBM.....sometime in 2013 £27,056. 10 creditors
    June 18......£16,989.....6 creditors left 40% paid

    £26,200 on interest only part of mortgage (July 16)...will chip away £22,734
    £49,200 repayment mortgage ( July 16) £43,881
    • fatbelly
    • By fatbelly 11th May 18, 6:15 PM
    • 12,441 Posts
    • 9,489 Thanks
    fatbelly
    • #7
    • 11th May 18, 6:15 PM
    • #7
    • 11th May 18, 6:15 PM
    Sounds like someone's made up policy off the top of their head.

    Try again after you see their written response. maybe up it a bit.
    • zenshi
    • By zenshi 19th May 18, 2:22 PM
    • 1,001 Posts
    • 1,990 Thanks
    zenshi
    • #8
    • 19th May 18, 2:22 PM
    • #8
    • 19th May 18, 2:22 PM
    Ok, letter came this morning.

    Ca*ot own the debt, managed by Akinika. Cabot have replied saying their agent will decide and have passed letter over.....how crazy is that. Anyway, will wait for another letter!
    LBM.....sometime in 2013 £27,056. 10 creditors
    June 18......£16,989.....6 creditors left 40% paid

    £26,200 on interest only part of mortgage (July 16)...will chip away £22,734
    £49,200 repayment mortgage ( July 16) £43,881
    • Sncjw
    • By Sncjw 20th May 18, 10:19 AM
    • 1,857 Posts
    • 1,097 Thanks
    Sncjw
    • #9
    • 20th May 18, 10:19 AM
    • #9
    • 20th May 18, 10:19 AM
    Pop a statement of affairs on here and we can have a look see where you can get more money to put towards the debt
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