09 Mar 2015

A question about : sainsburys bank settlement offer

i have been on DMP with cccs for a year now

in the new year i might be in a position to write to sainsburys bank for a settlement offer for my credit card debt. the offer is most likely to be around Ј600-700 for a Ј1400 debt. they are currently getting Ј15 a month. had the debt with them for around 4 years.

has anyone had dealings with them when it comes to making them offers?

are they approachable? are they known to say no straight away? maybe counter offers?

Best answers:

  • I've no specific experience with Sainsburys but in your situation that sounds a reasonable proposal.
    Start at the 400-500 level and let them negotiate up from there.
  • thanks
    here is my letter, have i covered all the bases?
    I write with reference to the money which you are claiming on the above account.
    I can confirm that I am unable to offer to pay the money which I owe in full. I have been in financial difficulty for just over 1 year now and I am on a Debt Management Plan with CCCS/StepChange. I am currently to pay Ј15.52 a month. However, I can raise Ј450 and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.
    I also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as having been paid and the account closed.
    Payment can be made within 28 days of receiving your written agreement of this offer and method of
    payment.
    should this be done via cccs, or can i contact them myself?
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