F+F Settlement Options

[FoxDelta]

Hi,

I've been in a DMP for the last 6 years and paid off just over half of my DMP so far. I have 8 debts all of which had defaulted and now have come off my credit file. I would like to pay off all of my debts and get out of the DMP so that I can look at moving to a more mainstream mortgage.

I carried out CCA requests recently and found that only 4 debts were enforceable, which represented about 35% of the total debt. The remainder came back as unenforceable.

I've requested full and final settlement offers from all of the DMA's and have had a wide variety of offers. The lowest I've had for an enforceable debt was 35%, but oddly all of the unenforceable debts were much higher - 65% and even 90%. I had hoped that as well as already having made substantial payments and being unenforceable, I'd be able to settle for a much smaller amount.

My question is, clearly I need to pay off the enforceable debts, but if I was to do this and then close the DMP informing the DMA's for the unenforceable debts that I was going to stop all payments, is there any chance they would improve their offers? Is this a risky option?

The irony is that as soon as I can remortgage I'm intending to pay them all off, but I can't do that until the DMP has gone!

Thanks for any assistance.

[quintonside]

Don't ask them for offers. Make them offers that you can afford and go from there.