Response to OFFERING A FULL AND FINAL SETTLEMENT/ABBEY

I reckon that 5% is about the minimum lenders will accept (from observation of postings from those who have settled). I would suggest that you offer to make a 'goodwill' payment of say, £400, but make it clear in your letter that in no way do you acknowledge their claim (assuming that they have not satisfied you with strict proof). Obviously they can cause you ongoing credit problems as long as they wish to maintain a claim against you, so the money you are offering is a compromise gesture on your part to allow them to withdraw without doing so emptyhanded. My theory is that lenders want closure as much as we do, but they 'need' to be seen to 'win' even if this is a small amount of money. Be prepared to get an initial rejection and a counter proposal much higher than you would wish to go. Consider then making a 'final' goodwill offer of 5% (£550) on the same terms ie no acceptance of their claim, and make it clear that if they won't accept then you still require them to prove their claim (list outstanding information /questions you want answered etc..) A friend recently successfully settled with the Halifax by following this strategy. Good Luck

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