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Advice on amounts for early settlements please.

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I have a DMP through the CCCS which has been running for well over a year and have started to investigate early settlement offers.


Would someone be able to advise what I should offer and what is likely to be accepted be the following creditors and balances.....many thanks.


First Direct Loan 10 671

Egg Credit card 5532

Chafes solicitors (took on debt from santander finance) 5148

MBNA credit card 3438

HSBC credit card 3170

Hitachi capital finance 2552


If anyone has had experience of these particular creditors and the types of figures they accept as reduced settlement, I would be very grateful.


Thank you.

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I would suggest you read Sequenci's blog on F&F's - it may give you a good starting point. It's almost impossible for people to advise you as it really is done on a case by case basis as it is dependant on so many different factors.

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is your hitachi capital one now with their late arrears team (litigation & recoveries dept?) if so they will accept 50% settlement, usually over 2 payments- but it depends which member of staff you get, some are harsher than others.

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They are varied between 1-5 years


Thanks for that, as a rule of thumb you may find the older creditors more likely to consider a F&F settlement than the newer ones. This is only a very loose principle - you may find it doesn't pan out that way.

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No, its HItachi Capital Finance which optical express used for laser eye surgery costs.


Also, the debt with Chafes Solicitors has gone down the CCJ route. Can you offer and clear a debt with a reduced F & F it is a CCJ?



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Guest Hitachi Capital


We are happy to discuss any area of your finance agreement with you. Please feel free to call our customer service team on 0844 375 5500.

Many thanks

Hitachi Capital

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