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  • #1

    Query over F & F number of offers

    Hello

    I have inherited £3,000.

    However, if I offered a pro rata settlement to all my creditors (total outstanding circa £30K) I know that none would accept. However, the smaller creditors may do so.

    My question is do I have to offer this money to all my creditors or can I select the smaller ones who I think may accept. If they do I would have more money to give to the outstanding creditors.

    Please note I have dealt with my creditors individually by private negotiation and am not with Payplan etc.

    Thank you for your help.

    FB
    Tags: account, bank, business, credit, creditor, creditors, debt, debts, delay, family, help, money, mortgage, offers, pay, payments, payplan, private, saving, savings, thank you, unenforceable
  • #2
    Re: Query over F & F number of offers

    I would pop that money in the bank in a savings account and it could be your rainy day money

    are you paying everyone at the moment?
    have you looked at UE for all your debts?
    Do you need a clear credit record for any reason ie new mortgage etc?

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    • #3
      Re: Query over F & F number of offers

      I asked a similar question when i first stumbled across AAD and made my decision not to but hold on to it for a rainy day.
      Its since rained, just not in their pockets
      When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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      • #4
        Re: Query over F & F number of offers

        Hello

        Many apologies for the delay in replying; unfortunately a bit of illness in the family. Glad to say much better now! Thank you for your replies.

        Mrs D - there is one debt which is unenforceable and I have gone down this route with the help of AAD. I am paying everyone except for the UE one.

        I understand your reasoning behind saving the money and this is an option.

        However, my main query is, as I have negotiated private payments with each creditor, can I also negotiate a F & F offer to each creditor, rather than having to apportion the money I have across all my debts.

        Many thanks
        FB

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        • #5
          Re: Query over F & F number of offers

          it's your money, you do what you like with it. it's none of their business who you pay what. They'd all like to know, cos they've got sticky beaks but up to you

          ps I'd still keep a hold of it

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