MelanieGiles wrote:

I wasn't talking about an IVA, but actually suggesting that this could happen with an informal settlement - hence my term "from customers directly".

Ahh yes apologies [;)]

MelanieGiles wrote:

MBNA have accepted offers as low as 30p in the £ in the past from customers directly, so 75% ought to present them with a pretty viable option.

Hi Melanie

Thanks for your input, did you note however that this isnt regarding an IVA just an experiment to clear my debts using some inheritance.

Thought I would provide an update on this. So far, BT have agreed to and I have paid without penalty a settlement of £191 on a debt of £360 I have also had a first batch of replies from credit card companies. MBNA on 2 cards have agreed to a 90% settlement also without any penalty. Barclays on curre...

Hi Fletch I'm not an expert, but I'm putting myeslf in the shoes of your creditors here. If you are seemingly making payments to me on time and appear, from my end, not to be struggling why would I want to accept from you anything less than that I had lent you? However, if you were struggling, had ...

It will most likely be marked as a satisfied default until the default drops off after 6 years. I'm not sure on this point ? Why would it be a default, if I have always made payments and they then accept a lesser offer for the full and final settlement of the debt without adverse credit affect[?]

Thanks Lily
The advice I have found so far suggests that I ensure the letter is "Without Prejudice" and ask that my credit file isnt marked badly.

The worse I can get is a no, even if a few agree then it will be worth it I guess.

I dont have an IVA as I manage to make all my payments on a monthly basis with some juggling. Anyhow, my debts total around £12,300 mostly credit cards, an overdraft and some energy costs. I will be receiving an inheritence sum of around £7k and have used a formulae found on the National Debtline to...