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added interest on at F & F stage


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I've offered to pay a creditor 100% of a debt, which they froze the interest on after going into a DMP.


Now I have offered the amount the company have basically said ' actually you also owe the interest aswell. If the amount you are offereing is accepted then your CRF will be marked as partially settled.


They have changed their minds at the last minute and added interest to increase the amount.


My aim is to have the account marked as fully settled.


Any advice please?

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If you offer the F&F the creditor will think 'great he/she has money, we'll get all of it'.


If you wait until they make a proposal for F&F then you will have the stronger position to negotiate to pay a fraction of the debt and have your file marked as full settlement. If it was me I would pay a token amount until the creditor gets fed up and offers a F&F.


DCA's buy debts for 10 to 20 percent. If you wait til they propose a F&F you could offer 25 percent and they still make a profit.


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