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Hello all,
I知 helping my Mum settle some of her debts, and I知 trying to understand the best way to approach this. She has been paying back through a DMP set up with Stepchange for the past 8 years. My Dad has lost income due to the Covid so we want to clear the debts whilst we still can.
She has about ｣9,000 outstanding. ｣2,450 is with the original creditor (Capital One) whilst the remaining is with debt companies including Hoist (｣700), Idem (｣500) and the remaining with Link Financial (around ｣6k).
She ha been paying about ｣400 a month via Stepchange but has brought this down recently to ｣150 due to my Dad's loss of income.
We have written to the debtors asking for a CCA 2 weeks ago. We are awaiting from the debt collection companies, but we received a response from Capital one last week.
Our intention is to email them offering a F&F repayment. I plan to make a F&F repayment offer of 15% and send the following to Capital One via email:
Dear Sir/Madam
Account No: XXX
I am getting advice from National Debtline on dealing with my financial situation and choosing the right debt solution for me.
I am writing about the money which you are claiming on the above account.
I can confirm that I am unable to pay the money which I owe in full.
My husband has recently lost significant income due to the Coronavirus situation and we have had to reduce our repayments via Stepchange by 50%.
However, I can raise ｣370. A family member has made a one time offer to gift me the money to pay off the debt once and for all. I want to offer this as full and final settlement of the account. I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.
If you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed.
I can pay the amount I have offered within 2 days of receiving your written agreement of this offer.
Please give me details of how I can pay.
I look forward to hearing from you.
(Please note, all further correspondence should be addressed to me. National Debtline are a self-help agency and are not acting as my representative).
Yours faithfully
Does this seem to be the correct approach?
Any advice?
I知 helping my Mum settle some of her debts, and I知 trying to understand the best way to approach this. She has been paying back through a DMP set up with Stepchange for the past 8 years. My Dad has lost income due to the Covid so we want to clear the debts whilst we still can.
She has about ｣9,000 outstanding. ｣2,450 is with the original creditor (Capital One) whilst the remaining is with debt companies including Hoist (｣700), Idem (｣500) and the remaining with Link Financial (around ｣6k).
She ha been paying about ｣400 a month via Stepchange but has brought this down recently to ｣150 due to my Dad's loss of income.
We have written to the debtors asking for a CCA 2 weeks ago. We are awaiting from the debt collection companies, but we received a response from Capital one last week.
Our intention is to email them offering a F&F repayment. I plan to make a F&F repayment offer of 15% and send the following to Capital One via email:
Dear Sir/Madam
Account No: XXX
I am getting advice from National Debtline on dealing with my financial situation and choosing the right debt solution for me.
I am writing about the money which you are claiming on the above account.
I can confirm that I am unable to pay the money which I owe in full.
My husband has recently lost significant income due to the Coronavirus situation and we have had to reduce our repayments via Stepchange by 50%.
However, I can raise ｣370. A family member has made a one time offer to gift me the money to pay off the debt once and for all. I want to offer this as full and final settlement of the account. I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.
If you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed.
I can pay the amount I have offered within 2 days of receiving your written agreement of this offer.
Please give me details of how I can pay.
I look forward to hearing from you.
(Please note, all further correspondence should be addressed to me. National Debtline are a self-help agency and are not acting as my representative).
Yours faithfully
Does this seem to be the correct approach?
Any advice?
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