Hi guys,
What is a reasonable amount to be offered for a debt of 8K?
I am owed this by a creditor who says they have no cash. I understand in the "current climate" that money is tight. It was for a service and I didnt have to pay for stock etc to sell on.
I presume that if i were to get a judgement and the judge felt that he had no money that he could direct my creditor pay €100pm for years to clear it so I'd prefer not to go down this route.
Also, my paperwork confirming the details of this transaction is a bit watery so i'd prefer not to have to produce it.
From your experience, what are creditors being offered?? I have heard of figures as low as 30% of the original debt ....this seems low?
Thanks,
Frank
What is a reasonable amount to be offered for a debt of 8K?
I am owed this by a creditor who says they have no cash. I understand in the "current climate" that money is tight. It was for a service and I didnt have to pay for stock etc to sell on.
I presume that if i were to get a judgement and the judge felt that he had no money that he could direct my creditor pay €100pm for years to clear it so I'd prefer not to go down this route.
Also, my paperwork confirming the details of this transaction is a bit watery so i'd prefer not to have to produce it.
From your experience, what are creditors being offered?? I have heard of figures as low as 30% of the original debt ....this seems low?
Thanks,
Frank