OK thanks anyway

OK sorry late payment but not charges, appreciate your advice though. Now then....any idea of what sort of offer Mercers might accept? I know its all hypothetical and there are plenty of things I can do other than making an offer but in all the posts about debt on the internet you never really find anyone who has settled with Mercers for an amount of money or percentage of a debt. I was interested in a real life scenario where someone has made an recent offer to Mercers for a BC debt and how much they accepted.

OK fantastic thanks. Don't think I incurred any charges on them. Was really just asking if anyone had any experience of reaching a settlement with BC/Mercers on a credit card debt of 9.000'ish and how low the offer might be that they have accepted for a similar amount.

No overlimit....Yes late payment originally before I got intoa DMP then obviously a partial payment after a period of acceptance of DMP. About 4 years ago through Step Change DMP was then rejected by BC I was told to deal with Mercers and havent heard from Mercers (or BC direct with a statement) in about a year after the usual threatening letter from Mercers

[ more than one way to skin a cat Thank you. Slightly more complex than I was anticipating anyway was still wondering re an acceptableish offer of settlement as previously mentioned? Thanks yes I know that offer needs to go to Mercers as far as I am aware...any ideas of an amount?

Exactly I am just wondering who would use this service and a heads up to anyone new to all this and that maybe has a DMP with Step Change (Which is very good) to beware of this service

I had an agreed DMP with BC. ...after a while BC Rejected my DMP amount. ..BC then passed my Debt to Mercers (Yes I know they are BC) I continue to pay my rejected DMP amount anyway. ...My debt technically is with Mercers. wondered if anyone had any ideas on what they would settle for as full and final settlent of a 9.000 credit debt? (a likely reduced amount of course)

No its a credit card debt only

Hello I know this is probably the million dollar question but has anyone any recent experience on BC/Mercers settling a Credit Card debt. Been about 4 years now. Paying a DMP which they have now rejected, gone to mercers who threatened in a letter but heard nothing since last year. I am paying about 50.00 a month anyway and owe about 9.000 still Any ideas on what they would settle for? Many thanks

Hello Not sure if this is common knowledge but Step Change appear to be doing a settlement scheme for debts. I will use hypothetical figures. Lets say you owe a combined amount of 11,000 they will confirm a minimum requirement for them to work with you say 7,000 (approx could be slightly less) Now the reason I would consider using a Debt Management company would be that they say on their blurb they have all their best experts in this department and have contacts, negotiating skills etc so it might be a bit over the odds but may be more successful reaching a settlement. and here's the rub..... They say you would need to send them the 7,000 and they would forward it to the creditors pro rata BEFORE any negotiations have started! If the creditors decide they do not want to accept it as a final settlement, then they can just keep it! So can you tell me if given a lump sum of 7,000 a debt agency would say "That ok mate its not what you owe, but I will let you off anyway and I really don't want't you to keep paying the 100.00 dmp you have been paying anymore....or is there a likelihood that the debt collection agency might just say "Thank's for the 7,000 we reject your offer and by the way, can you keep paying the 100.00 a month on your dmp. Step change were upfront about the fact they hand over the money regardless but I find it hard to get my mind round the fact that for me they should be negotiating a settlement and only sending the money if it's a guaranteed agreement. Of course go direct and offer. Just thought this might be of interest