Do creditors really except a lower amount to finally settle your debts?

want2bfree84

I might possibly be getting my hands on £3000

Before I phone up a couple of the creditors and pay them off, is it worth seeing if they will accept less as a full and final settlement of my debt to them?

If so, how do I go about doing this?

For example, I owe HSBC £2500, what would be reasonable to offer them?

Not even sure if this is possible....and if it is, what do I say/do and do they EVER accept?

GeorgeUK

Usually they will only look at this option if you are meking reduced payments as part of a DMP or similar. For DCA's people usually offer between 30%-50%. For the original creditor, 40%-70%