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Advice please!

AjeJoandPea
AjeJoandPea Posts: 2 Newbie
in Debt-free wannabe
I read somewhere on this website that you can try and offer your creditors a lower amount than you owe in a one off payment to clear your debt totally with no come back.

I'm hoping to
do this with one of my debts however I have no idea where to start, what to write in the letter or what % I should offer. Any help?
I can't find the webpage on this site that has the info any more either so if someone has a link to that I'd be eternally grateful!

Thanks

Comments

  • GeorgeUK
    GeorgeUK Posts: 7,737 Forumite
    This would only work if you were already behind with payments and could show you were unable to meet the minimum payments.

    You can send a letter from the national debtline site, but make sure you get a letter confirming it will be a full and final settlement and not a partial settlement.

    http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6
    After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91

    Dad Gift 6k ¦ Savings & Inv Tst: £2,500
    Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0

    Total Owed: £2,270 (+6k) 11/08/2011
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