Minimum full and final figure?

[Pinkpegasus]

Hi, I am looking for a bit of advice regarding paying off my debts and wondering if anyone could give me some advice please?

I am in a position to offer to pay full and final settlements to my creditors. On this site I have read to start with a 10% offer then work up.

I was wondering if anyone who has offered low f and f figures, what the lowest percentage is that anyone has had accepted.

I did contact Robinson Way a few months ago and asked via phone(I will get anything in writing though) and they said about 75% but to call back when I actually am in possession of the funds. I am presuming that they will accept 75% obviously, but was wondering what to write back and actually offer?

Any suggestions please, thanks in advance.
xxxxx

[CourtOfficerSpeaks]

Get the cash firstly, then start offering.

I've seen a £10k debt get accepted at £3k all in (inc. our sherriffs fees) but he paid it on a card there and then.

depends on the companies write off/bad debt amounts etc

[sequenci]

The best thing to do is to send a CCA request first. If a creditor doesn't have the paperwork in order they may be more receptive to a much lower settlement offer.

[biwood]

PLEASE BE CAREFUL,

I have been talking to CCCS about making a full and final settlement (10% of £45,000) for my mum and dad. They said get everthing in writing (including the fact that: "they will not pursue the debt any longer and no other company will either").

[lihi]

I agree with Sequenci, CCA them and strengthen your argument for a low settlement figure, 25% is reasonable.

[PriorityOne]

Originally Posted by Pinkpegasus

I did contact Robinson Way a few months ago and asked via phone(I will get anything in writing though) and they said about 75% but to call back when I actually am in possession of the funds. I am presuming that they will accept 75% obviously, but was wondering what to write back and actually offer?

75% ?!! Yes, I bet they would... What's this debt for ? Do not even think about paying them 75% without sending off a CCA request.... they may not be legally entitled to receive any of it.

Any suggestions please, thanks in advance.
xxxxx

[percival]

Hi

read this info with interest, what's a CCA, been in contact with CCCS and they mentioned that creditors will accept a full and final settlement by negotiation, however they I'm sure they mentioned a reduction of 25%. If 75% is possible this would really help move situation along and bring freedom from debt much closer than the 2 years I looking at right now!

[lickthewallfatboy]

start low,and build up in low increments (if you have to)

you can always increase your offer-you can't realistically start high and come down.......

[alibobsy]

A CCA request is an official request under the consumer credit act for them to provide a copy of your original credit agreement (see the stencils on this forum). Mostly they will either be unable to provide anything, or will provide an agreement that doesn't conform to the legislation. This particularly applies if the agreement is over 2-3 yrs old.
good luck
ali x

[PriorityOne]

Just out of interest... one creditor offered me a 75% settlement yesterday, but since we both know there's no Agreement, it's a no deal.

[alibobsy]

Simular situation here PO. In negotiations with a number of DCA/OC who have either failed to provide any agreement, or have provided an invalid agreement. One recently made me an offer around the 25% mark, still mulling it over-they have no agreement at all. Have put in all offers default removal and file marked as full and final with zero balance as conditions so we will see what happens.
ali x

[Jaws75]

Originally Posted by PriorityOne

Just out of interest... one creditor offered me a 75% settlement yesterday, but since we both know there's no Agreement, it's a no deal.

Hi PO!
I haven't been around lately..
That sounds great! My total debt is around 30 Gs..but between 7 creditors, whats my chances of paying all off with £3000 if i could stump up the money? Do i have to get everyone of the creditors to agree or could i combine the settlement somehow? I haven't cca'd anyone yet, as i'm still baffled by what direction to take..the help has been above excellent here, but I've been advised if i don't have assets then sit back and why worry about anything.
I better get back to my own thread.
bye!

[PriorityOne]

Hiya Jaws....

Just checked your thread and you have replies from OTB and Tom, so I won't muddy the waters with mine for now.... You need to decide which way you want to go on this before anyone can really help you properly.