Which Way to Go?

[nightwatch]

Re: Which Way to Go?

Hi NDBW
I am with Flower on this CCA first then negotiate F&F with the last card standing.
that said I have gone UE rout this year and don't have any cash for F&F, I will just blag it until I need to start paying again poss £1.00 a month as not in work

best wishes NW

[Still Waving]

Re: Which Way to Go?

Thanks for the replies so far.

As I have been paying via the DMP for the past couple of years, things have been quiet, but as I have not made a payment for 2 months I am expecting that to change very soon.

I'll get together further individual info, and post later.

[Deepie]

Re: Which Way to Go?

To help us, to help you, please provide the following information for each account:

• Type of account (credit card/loan)
  
  
• Date commenced (ideally before Apr 2007)
  
  
• Approx balance
  
  
• Date last paid (approximate date you last made a FULL payment)
  
  
• Are you on arrangement or not paying
  
  
• Status (default/in arrears/up-to-date)
  
  
• Account owner (who is writing to you, a DCA or the lender)

Providing the above information, for each account helps us. Then, We can help in the best course of action.

[Still Waving]

Hi


I have debts totalling approx 49K, comprising 6 credit cards and a Bank account with a large debit balance. I have been making regular repayments until recently via a DMP with Payplan. I have now retired on a modest pension, so that my income has fallen by an amount approximately the same as the monthly repayments made hitherto under the DMP.


It may be possible for some funding to be made available to make F&F offers to the creditors for amounts substantially lower than the debt. I do not know what sort of level of settlement Payplan are normally able to negotiate, but I am inclined to contact the creditors direct myself, to try to reach agreements. I have read various Forum threads on F&Fs, and also looked at the letter templates covering various scenarios.


The Bank Overdraft account dates back to the early 80's, the 4 largest CC accounts all date to at least the 90's I think, and 2 smaller ones to the 00's.


I am undecided whether to make my offer to the creditors first, possibly reverting to CCA requests if they will not consider my offers, or to go the CCA route before making any offer at all.


For information, I have not made a DMP payment for the past couple of months.


I would appreciate suggestions as to my best course of action. Many thanks.