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| acm |
Posted - 19 December 2008 : 10:54:15
Hi
Advice please. My partner has been an absolute rock to me both financially and emotionally since I went self employed. However, this did put her in a bit of debt herself and she has been paying off a couple of credit cards but the amount has never really gone down and some months she is struggling. My question is, a family member has offered her an advanced inheritance of a few thousand pounds (which accounts for about half of what she owes on her two cards) and I am sure that at the moment some creditors will take possibly 50% of the debt as a one off final payment if you explain you are having difficulties rather than risk the debtor going belly up on them. If this is so can someone give any advice as to how to pose a letter to the creditor? Many thanks |
| 4 L A T E S T R E P L I E S (Newest First) |
| pix1 |
Posted - 20 December 2008 : 09:39:37
If your partner can pay up to HALF of what is owed on each account there may well be a good chance of this coming off.
You could try something like this:
Dear Sir,
I am in a position whereby a sum of money from a third party may become available for the specific purpose of paying a part setlement of the balance owed on my account with your company. I can afford £££ as full and final settlement of this account. This offer is, I am assured by the third party involved, only avaialable for a short time and I hope that it will be acceptable to you as otherwise it would appear that, in my current and likely future circumstances, it will be a much longer time before the account will eventually be paid up. I should be most grateful if you would reply at your earliest possible convenience.
Yours faithfully,
etc.
£££ [I suggest HALF the amount your partner actually can afford as an initial pitch] If they come back with a figure half as much more than what your partner can afford she could then, classically, split the difference.
This may or may not work but you will notice it gives very little away and there are no comebacks. It does not say she actually has more money in her pocket right now only that she might get it. It hopefully will make them think half the money now is better than possible not getting fully paid later.
Of course, consider this carefully and don't take only my word for it. |
| Needafriend |
Posted - 19 December 2008 : 12:15:12
Hi ACM
No problem:-)
Let us know how it all pans out.
Jo
x
Wishing you A Very Merry Christmas & A Happy Debt Free 2009
19 Weeks down
33 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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| acm |
Posted - 19 December 2008 : 11:36:08
Thanks Jo
I guess I am wondering how receptive the two credit card companies will be if only offered half of what they are owed. It makes me despair. One of the cards is up to its limit of £7,500 so what did they do????? Offered my partner another £3,000 credit! And you wonder why people have problems. |
| Needafriend |
Posted - 19 December 2008 : 11:08:28
Hi ACM
A full and final seems like a better idea and as you say they would ratherr have that than nothing at all.
I am not sure what sort of letter you should write, give the guys at the helpline a call if no one else can shed some light on this as they may be able to advise the best way to go about this.
That number is 0800 078 9367.
Best of luck and Merry Christmas
Jo
x
19 Weeks down
33 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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