QDR - Do they accept partial payment?

[ColinDurant]

Hi all, hope i'm posting in the right place - I'm having a little trouble dealing with QDR Solicitors Debt Recovery, basically i'm not able to pay the full amount right now but I don't want the situation to get any worse - I was wondering if anyone knew how likely QDR are to accept token or partial payments or maybe even give me a break whilst I organise my finances.

Thanks

[AnsleyDyson]

It varies case by case whether QDR or any debt collector will accept partial payment. However, there is no harm in simply asking if you're risking further late or delayed payments. One thing that is worth mentioning is if QDR do choose to settle your debt at a lower amount, which they can do and still be profitable themselves, the debt settlement will be on your credit report as an overall inability to pay the entire debt back in full - just something worth thinking about.

On the whole though it is always good advice to keep in contact with them and explain your situation, especially if you can enclose your budget and explain your circumstance you are more likely to end up in a better place financially if you don't just ignore them or put the problem off.

[ColinDurant]

Ok that's good to know thanks - do you know how much they're likely to accept if I really can't come up with the money? If a debt settlement will appear on my credit report and worsen my credit score anyway does it matter how much less than the debt total I pay?

[AnsleyDyson]

Again it varies by case but it can be likely considering debt collectors like QDR often purchase debt in bulk from original creditors at the fraction of the cost. If you are honest and upfront with them and like I said yo enclose a copy of your budget then they might accept.

Most sites suggest that you offer around 80% of the total amount if that is all you can afford but you could go lower dependent on your circumstance.

That is an interesting question which I don't actually know the answer to however I was recommended a website a while ago that might answer you question - they have a QDR specific page to get you started. It also outlines some of your other options such as payment plans and contacting the citizens advice service first.

[bart70]

This is not advice but how I have been dealing with my own situation. Every debt I had that was “assigned” to a DCA I wrote a email to them. I explained that my financial situation was not going to improve in the near future and that I could make a one off payment to settle the debt. I also pointed out that as they had paid 10-20p in the pound for the debt that they would still be making a profit. I then offered them 40% as full and final payment.

To date 100% have accepted and been paid. The debt is marked as satisfied in your credit report but my rating has actually started going up as I eliminate the defaults.

This is just how I’ve been dealing with my debts one at a time. I’m still working off towards my last few debts now. I hope sharing my own findings and situation helps.

[MIKE770]

better hold on and tell us what each debt i about is it a legal recovery with all documentation in place?? what is the story.