DebtFree Haven

A partial settlement is an agreement made between you and your creditors. In order to offer a partial settlement to your creditors you will need a lump sum of money. This can be raised for example by a third party - possibly a family member or friend - or via a re-mortgage. Once that lump sum is available the negotiations can begin. To help spread the debt, we can combine a Debt Management Plan (DMP) prior to the Partial Settlement in order to give you the opportunity to save or gather the funds required.

Once you have a lump sum of money available, Debtfree Haven can start to make a fair settlement offer to your creditors. If your creditors agree on this offer, the remaining balance will be written off and this will be reflected on your credit file as your debt being partially settled.

Some general points

• As with all debt management plans, there will be upfront fees incurred
• The negotiation process is often not easy and can be very stressful. As trained negotiators we work on your behalf to deal with your creditors and ensure you received the best possible settlement
• We work on your behalf until you have managed to gather the funds needed to settle with your creditors
• Please note, there is no guaranteed timescale of the negotiation process, however, we aim to complete this as quickly as possible
• Once settlements are completed your credit file is then updated to show that your debts have been partially settled.

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