Feel rather Anxious

[trog]

Feel like its one big waiting game.

Letter has gone to all creditors offering them full and final settlement and my reasons why.

Dont think they will accept it as it has come from me direct, More clout from a IP. but have given them

have given them till 30 Jan to reply in which told them will be seeking a IP to then act on my behalf. If it goes to IP would like them to propose a final settlement, but the total amount available would be the same.

As offered creditors, most i could offer no room for negotiation

I think i will feel quite sick waiting for the post.

[MelanieGiles]

They would be daft not to accept your offer, but I fear you will not have hit the appropriate level of decision making within each bank.

If this does not work, you could also use the services of a DMP company to put forward this type of offer for you. Andrew Graveson of Brightoak, who is a regular poster on this forum, has an excellent track record in this field, and very good creditor contacts.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Andrew Graveson]

Hi trog,

Well done on tackling your situation head on in this way.

My first suggestion to you would be to get on the phone to the creditors within a week or so from sending the letters.

A surprising number of such letters don't get registered on creditor systems which will cause you a delay if it takes weeks to find out that this is the case.

My second suggestion would be to be patient. Informal full and final offers of settlement are frequently time-consuming and to be fair many creditor companies are very busy dealing with debt-related issued at the current time.

We handle a number of such cases for clients; if we can help you with any pointers as you sort this out feel free to give us a call (details in profile section).





Andrew Graveson
Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[trog]

Hi melanie

A DMP is that not long term repayment?? Thought i would have to put it through a IP

With offer of funds from realtive this would be a full and final settlement, i feel in my heart it will not work, but i know i need to try.

Still getting offers off creditors wanting to increase credit card limits.

With this forum you realsie you are not alone and debts of 40k or more seem quite common.