How do i get money off my balance???

mav0800

Hi
i am currently trying to settle my credit card bill and i have owed over £4000 for a couple of years and i have made the mistake of paying minimal amounts each month. i am in the process of claiming my charges back. but how do i get the credit card company to drop from the full amount to settle the debt. I really am worried that they will not drop from the current balance even though they are making over £70 every month from me and im only paying off under £30 of my balance. I need help and hope someone can help me!!!!!

bethanyrayne

Simple, don't pay until it defaults and then make them an offer in full and final settlement. They'll go for a substantial reduction but it will also ruin your credit rating for 6 years as would an agreement to pay.

Saucepot

A creditor will always wish to recieve the full amount. Any creditor will only accept a "deal" if they think there is no chance of the full amount and a "deal" is the best chance of recieving anything, factoring in the costs of recovering the debt.

So as #2 said, default. But by doing so you'll be joining the sub prime world, so consider the consequences.