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Full and final settlement - 30%? Sainsbury's


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Hello,

 

I have searched around but cannot find the exact advice I am looking for.

 

I have a loan for 25k from Sainsburys,

unfortunately soon after taking out the loan,

I lost my job and have never found a role that has been permanent, or paid above minimum wage since.

 

 

As a result I have been paying a reduced amount every month for about a year.

This means I have defaulted on the loan and the amount I owe is now closer to 30k.

 

A family member has offered to settle the debt for me,

but when they found out the large amount,

they said they would only be able to offer something like 10k.

 

My questions are has anyone done a "Full and final" settlement with Sainsbury's for 30% of an outstanding balance?

 

Are they likely to say OK we will take the 10k but you still need to pay x amount a month?

as the family member will not give me the money on that basis,

they want to help me move on.

 

There is still no job on the horizon for me.

I have been offered an unpaid internship in a different country within the EU which I am going to take,

but I want to square this away before I leave

 

Any help/advice would be much appreciated

 

Kind regards

Hard Working, Hard Drinking, Hard Done By!

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how much is outstanding and when did take it out

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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ouch!

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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