Was just wondering if anyone else on here have heard of or used whats called the "Official Offer" method of dealing with financial debt with banks etc.
Theres a Facebook page dedicated to it and various website sharing the information on the web aswell.
Its basically, if you're in debt and cant afford to pay back your mortgage for whatever reason, you write a letter to the bank (Template of letter below) and basically offer to pay them whatever miniscule amount you are willing to give them.
You pay them via cheque, postal order or with cash over the counter and supposedly the banks have to accept it.
I dont fully understand the legalitys of it all but it sounds interesting.
You can look it up on youtube aswell and one of the founding members of this method explains in simple terms how this works.
Have any of you heard of or tried this and if so how did ye get on ???
Is this genuinely legal
Offer to (bank) by (person) to now operate on account 123456 £?0.00 effected monthly as satisfaction on all account demands/obligations.
Rear of paper .... written at an angle across the page OFFICIAL OFFER
Attach Cheque made payable to (BANK)
If you get no response then the offer has been accepted ... so the cheques keep going in to effect performance on the contract.
If a response comes ... Look at it very carefully ! ! ! ... This is where they may try to shift the attention away from the offer .... in an attempt to get their offer in place ... If responded to carefully this cannot happen ...
Go check the 7 elements of contract .. pay particular attention to acceptance ....