Making Offers to Settle Debts!

[Never-In-Doubt]

Noticing a few people are making offers to settle their debts - please, please, please check with one of us before you jump in and do this as there really is no need.

I've just seen one accept at over 50% - of course they will! They'd accept 5-10% had you spoken to us so please, whatever you do - do not feel threatened to pay or make a F&F offer unless it is something you really want to do - but even then check with us as we can help you get a better deal.

I am still in shock - lets not forget for a £10k debt a purchaser will pay around £100 - £270 maximum. It is a toxic debt so if anyone offers anything more than 20% the lender would be stupid to refuse as it has already been written off as a toxic debt and then sold for a profit - so by you settling at a higher rate than the DCA paid for it, you're helping the DCA stay afloat!

Try and think before you act. It'll do you the world of good.....

Problems, queries, concerns? Please message myself, Di or Jo. We will guide you properly.

[Moonmonkey]

Whoops you must have seen that i settled for 60% on MBNA / Link debt. It was deemed enforceable though. I'm not gonna send anything for now and then ask opinions in advance. Thanks Niddy

[johnbruce]

Promising post and giving big hope to the people stuck in claws of debt collecter agencies. I tried to settle my debts with 30% offer but Intrum asked me 70% and Link asked me 75% then I came to know this website and sent CCAs requests to DCAs and SARs to original lenders and found out lots of legal issues in my debts. Now I am not receiving any calls and letters and waiting to hearing from DCA.

According to my experience, first send CCA and SAR and check every thing before offering any settlement and you would get a better deal in this way. If you have enough evidence that debt is UE after receiving documents then don't pay any thing at all.

[Never-In-Doubt]

Whoops you must have seen that i settled for 60% on MBNA / Link debt. It was deemed enforceable though. I'm not gonna send anything for now and then ask opinions in advance. Thanks Niddy

Yea I'm gutted mate. You could have done that for around 10-15% based on the value.

Hey, main thing is that you're happy and it's now gone so great. I do understand why people do it but I hate to see you pay more than necessary - after all that's why we're here lol.

Glad you got sorted though. Well done.

[Timewilltell]

I think until you come to understand the game/concept of what is debt and what isn’t then it is very easy to feel obliged to pay it off even at a reduced offer because you think you have struck a deal in your favour.

A debt is only a debt if you still owe it, now given that what we are dealing with here is toxic debt which has already been written off and then sold for the sake of selling to give A N Other company an opportunity to make profit it can no longer be a debt, it may be attached to your name but that is all it is, and that is only a worry if these fools knew what they were doing, which most if not all don’t!

so in the grand scale of life, let it go let it go for theirs is the case to prove, oh happy dayyyys!

[Joanna Connolly Solicitors]

A debt is only a debt if you still owe it

I agree with that

It's a legal argument not a moral argument.

Di