bobogosing vs nothern rock

[bobogosing]

Hi All

 

I m helping out a friend as she does not have any experience with computer skills. She does have a few debts and trying to sort herself out too. I have told her about this site, she is suffering from depression and hope this will help and cheer her up abit. ( I will try! Can't even sort my own out:eek:)

 

I have told my friend to cca her creditors and one of them is nothern rock.

This is what northern rock send back to her

 

 

She has called nothern rock and they said they are willing to accept a final settlement offer from her.She asked how much would they take, and northern rock just said ring back with an offer and they will let her know and also the person on the phone said that northern rock is will to consider any offer, even low ones. But how low?

 

Any advice i can give her will be appreciate x;-)

[bobogosing]

ooops........ forgot this part aswell

 

 

[supasnooper]

Not very well up on loans but reading other threads it may be worth starting as low as 15% of the debt and see what happens.

 

Northern Rock may come back with a figure they want; and it may suit both parties to agree on a figure in between.....negotiate hard though!

 

If a figure is agreed then make sure it is in writing, with

 

1/ a demand for the debt to noted on the credit file as "satisfied in full" ,

 

2/ a statement that they will not sell on or pursue the remaining unpaid part of the loan.

 

I'm sure someone with more knowledge of these things will be along soon.

[bobogosing]

Thanks supa! you have been a great help and I shall pass on the advice to my friend:)

[tiglet]

Looks like it's enforceable to me.

 

What can she afford to offer? I would personally start with 5%.

[bobogosing]

Hi tiglet

 

Thanks for reading post.

 

In the situation she's in now, I m going to tell her start of with 5%.

Originally I adviced her 10% but now after some help from you great people, think it will be best for her to start lowest as possible.

[tiglet]

Absolutely - they will make her go higher, no matter what, so best thing to do is for her to decide how much she can actually afford and if it goes that high, stick at that.