| Clearing debts f and f offers - Penelope marks 2019-06-07 17:47:55 |
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Hi there
I owe £52,000 over 9 different companies. This debts were from over 11 years ago. I have always paid between £50-75 per month on DMP over the years . The debt was originally approx £54,000. All the debts are with debt collectors including westcott, cabots, Lowell’s and moorcroft. My daughter has offered me £15,000 to settled the debts . I spoke to Cabot and offered 15 percent and they agreed on the phone . I have a property with equity and work for government so can not pursue bankruptcy without declaring which I don’t want to do . Shall I continue to contact all companies with 15 percent offer and see what happens? Or shall I send a £1.00 to see if they have original documentation first ? I would really appreciate some advice on best way to deal with this . I Have stuck to the play for over 11 years now . My credit score on Experian shows as excellent. The original debts are not on there as they were all defaulted 11 years ago. Thank you for your advice in advance Penelope |
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| Re: Clearing debts f and f offers - Jane 2019-06-12 20:31:56 |
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Hello - you can offer 15% but try pro-rata-ing with what you have left as you have already sorted Cabot.
Make it clear that the money is from a third party and that if the offer is rejected the money will not be forthcoming. National Debtline have a good factsheet on this - it is not necessary to waste money asking for the original documentation. Have you kept a record of what you have paid and what the balances are as you should have a yearly update from the creditors. If you have not then you could request it and if figures vary a lot you can then ask for exact figures and pay the money for it. The link to the factsheet is: https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx |
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