Advice re f&f offers

[tierisch]

Hi

Have debts with mint/halifax/lloyds and a few others. These three haven't been sold onto DCAs and the CCAs have all the correct stuff on them. Have read that they are unlikely to accept reduced f and f offers but wondered if anyone had any success so I can gauge how to approach them?

Thanks

Tierisch

[Wishfull]

Re: Advice re f&f offers

hi Tierisch this might not be any use to you but will give an idea,i have sent a f f offer to santander on my overdraft which is for roughly 4k i offered them £1500 which they refused now i put in a sar request to enable me to work out my charges etc and interestingly there is a printout of a screen shot saying it was declined because the offer was les than 50%, i am gonna be putting some stuff on here when i get home this weekend buit will offer 51% and see what comes back now this is a relatively new debt that has just been defaulted and passed to a dca but i sent the letter direct to santander,hope this helps a little bit but l;enders will have dif ways of doing things as niddy will probs say there are people who get away with much less

[tierisch]

Re: Advice re f&f offers

hi Tierisch this might not be any use to you but will give an idea,i have sent a f f offer to santander on my overdraft which is for roughly 4k i offered them £1500 which they refused now i put in a sar request to enable me to work out my charges etc and interestingly there is a printout of a screen shot saying it was declined because the offer was les than 50%, i am gonna be putting some stuff on here when i get home this weekend buit will offer 51% and see what comes back now this is a relatively new debt that has just been defaulted and passed to a dca but i sent the letter direct to santander,hope this helps a little bit but l;enders will have dif ways of doing things as niddy will probs say there are people who get away with much less

Hi wishfullthinking

Thanks for this and nice of them to give you all the info! Might give it a go based on this and see what happens - useful starting figure to try anyway. Have seen people stating a range of different amounts that they have managed to negotiate but it does vary a lot. Will post how I get on (or not).......otherwise they can have a £1 a month for the next zillion years.........

Cheers

Tierisch

[Never-In-Doubt]

Re: Advice re f&f offers

hi Tierisch this might not be any use to you but will give an idea,i have sent a f f offer to santander on my overdraft which is for roughly 4k i offered them £1500 which they refused now i put in a sar request to enable me to work out my charges etc and interestingly there is a printout of a screen shot saying it was declined because the offer was les than 50%, i am gonna be putting some stuff on here when i get home this weekend buit will offer 51% and see what comes back now this is a relatively new debt that has just been defaulted and passed to a dca but i sent the letter direct to santander,hope this helps a little bit but l;enders will have dif ways of doing things as niddy will probs say there are people who get away with much less

DO NOT OFFER 51%

Madness - no no no.....

let them sell it to a DCA, let them default you if necessary and then you can haggle as low as 20p in the £1. The lender will NEVER agree to such madness, thus you need to wait till they sell it off as a bad debt meaning they can claim it against losses, let the DCA buy it for around 8p-12p in the £1 and then so long as you offer them more than they paid, they may well accept (think about it, if you had a £10k debt owing to you and was offered £2k or sod all - which would you take? Especially if the £10k debt was sold to you for around £1200....

[Never-In-Doubt]

Re: Advice re f&f offers

Hi wishfullthinking

Thanks for this and nice of them to give you all the info! Might give it a go based on this and see what happens - useful starting figure to try anyway. Have seen people stating a range of different amounts that they have managed to negotiate but it does vary a lot. Will post how I get on (or not).......otherwise they can have a £1 a month for the next zillion years.........

Cheers

Tierisch

Nooo, really not a good idea. You always start low and work up - why would you start haggling at 50%? Its not a wise idea and certainly not recommended.

[Never-In-Doubt]

Re: Advice re f&f offers

Hi

Have debts with mint/halifax/lloyds and a few others. These three haven't been sold onto DCAs and the CCAs have all the correct stuff on them. Have read that they are unlikely to accept reduced f and f offers but wondered if anyone had any success so I can gauge how to approach them?

Thanks

Tierisch

Kinda all the same bank anyway

Well mint is RBS - the other two are Lloyds. I can categorically state that HBOS will accept offers, as will RBS so I dunno where you're getting your info but they both accept offers, however you're still best waiting for it to be defaulted and sold to a DCA - unless you have money to burn of course?

[tierisch]

Re: Advice re f&f offers

Cheers for the answers - i must admit i did wait for the others to be sold onto DCAs and then did ffs with them.....so will hold fire with these last ones. They don't seem to want to sell them to the dcas though, so might be a long haul.

As for the RBS it was just had seen a few peeps on different sites who hadn't managed to get them to budge on the f&f amount.

Money to burn - i wish! But would like to get rid of these debts asap - won't make any difference to credit rating as that's screwed till I am dead.......

[Never-In-Doubt]

Re: Advice re f&f offers

Cheers for the answers - i must admit i did wait for the others to be sold onto DCAs and then did ffs with them.....so will hold fire with these last ones. They don't seem to want to sell them to the dcas though, so might be a long haul.

As for the RBS it was just had seen a few peeps on different sites who hadn't managed to get them to budge on the f&f amount.

Money to burn - i wish! But would like to get rid of these debts asap - won't make any difference to credit rating as that's screwed till I am dead.......

Credit rating can only be screwed for 6yrs so don't worry about long term effects, unless of course you have active accounts - in which case you get them defaulted, as per details above - then you know in 6yrs that the entries will be wiped, whether debt is paid or not....

[jadex]

Re: Advice re f&f offers

i must admit i did wait for the others to be sold onto DCAs and then did ffs with them.....so will hold fire with these last ones. They don't seem to want to sell them to the dcas though, so might be a long haul.

Am in the same boat - none of my accounts (4 UE and 2 enforceable-post April 2007) have been sold to DCAs.
Last payments to UE were in Nov 09 and am paying £1 tokens to 2 enforceable ones.
Offered them f&f but heard nothing back....
Strangely one of them doesn't even chase me - they passed the debt to Capquest then take it back from them and they have been accepting £1 tokens since last July (not a single letter from them neither DCA).

[Never-In-Doubt]

Re: Advice re f&f offers

Am in the same boat - none of my accounts (4 UE and 2 enforceable-post April 2007) have been sold to DCAs.
Last payments to UE were in Nov 09 and am paying £1 tokens to 2 enforceable ones.
Offered them f&f but heard nothing back....
Strangely one of them doesn't even chase me - they passed the debt to Capquest then take it back from them and they have been accepting £1 tokens since last July (not a single letter from them neither DCA).

You ought to cease all payments, if you want to get the account defaulted.....

[tierisch]

Re: Advice re f&f offers

Credit rating can only be screwed for 6yrs so don't worry about long term effects, unless of course you have active accounts - in which case you get them defaulted, as per details above - then you know in 6yrs that the entries will be wiped, whether debt is paid or not....

Have already got some defaults so what's a few more! Halifax passed debt onto a DCA but after i wrote to tell them to get stuffed never heard from them again or come to that Halifax - suits me at the moment.

Might just default and see what happens.........

[Never-In-Doubt]

Re: Advice re f&f offers

Have already got some defaults so what's a few more! Halifax passed debt onto a DCA but after i wrote to tell them to get stuffed never heard from them again or come to that Halifax - suits me at the moment.

Might just default and see what happens.........

nest of luck, let us know what you do/happens?