Debt settlements

[lamby66]

Hello, I am new to this website and forum. It is refreshing to see that there really is help out there. Now I have finally decided to face up to my debt problems I can see there can be light at the end of the tunnel!

 

I have accrued debts in excess of £20k and have read on here about settlement figures to creditors.

 

Should I be offering / asking for a settlement figure less than the total I owe? What would this mean long term? Would the account then be closed or could they follow up at a later date?

 

I know there is no easy way out but would like to try and get things resolved once and for all and start to get my life back on track

 

 

Thanks in advance,

 

 

Lamby66

[rebel11]

Hi lamby66

 

Welcome to CAG

 

You've come to the right place. Before you offer to settle, it might be worth sending CCA Requests to your creditors, give them 12+2 days to respond. If the accounts aren't enforcable then you can use that as a bargining tool, to get a better settlement. You send £1 to each creditor with the CCA Request, all templates can be found on this site. Depending on what they send you can put the account in dispute. We can chck the documents for you, you just need to scan, post removing all personal details.

 

The other thing is that if you've had Penalty Charges added over the last 6 years plus you can claim them back with contractual interest. Also have you been mis-sold PPI that you can claim back. Again with Interest over 6 years plus.

 

All spreadsheets and templates are in the Library. Your tackling the debt on all fronts.

[lamby66]

Brilliant! Thank you.