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full and final settlement
doyda
Posts: 48 Forumite
in Credit cards
Hi,
my husband and i owe £30,000 on 9 ccards, in june we are getting an inheritance of £10,000.
i was wanting to make a settlement offer to them but am unsure on what percentage to offer.
Any help much appreciated.
Many thanks
my husband and i owe £30,000 on 9 ccards, in june we are getting an inheritance of £10,000.
i was wanting to make a settlement offer to them but am unsure on what percentage to offer.
Any help much appreciated.
Many thanks
debt at LBM - £29163.15 :eek:
October £10/day challenge - £465.30/£310
October Shopping Challenge - £179.99/£200
October loose change - £13.59
Cashbackextreme - £15.08
October £10/day challenge - £465.30/£310
October Shopping Challenge - £179.99/£200
October loose change - £13.59
Cashbackextreme - £15.08
0
Comments
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have you defaulted (i.e. stopped paying) on the cards?EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
You would normally only be allowed a full and final settlement if you are seriously delinquent on your credit agreement and it will ruin your credit file for 6 years0
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hi yes we have missed a couple of payments recently due to family bereavement time off owrk etc - been a difficult time. have sent token payments though.debt at LBM - £29163.15 :eek:
October £10/day challenge - £465.30/£310
October Shopping Challenge - £179.99/£200
October loose change - £13.59
Cashbackextreme - £15.080 -
Pay off £10,000 when you get the inheritance and the balance when you get some more money - simple.0
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Hi,
my husband and i owe £30,000 on 9 ccards, in june we are getting an inheritance of £10,000.
i was wanting to make a settlement offer to them but am unsure on what percentage to offer.
Any help much appreciated.
Many thanks
Well if you only have 10k then that's the max you can offer.
Not really going to happen though - if someone owed you 30k would you take 10?0 -
Well if you only have 10k then that's the max you can offer.
Not really going to happen though - if someone owed you 30k would you take 10?
If I thought £10k was the best I was going to get then YES I would.
If the creditor suspects that you may go bankrupt and they will end up with nothing then they may well accept this. Careful negotiation will be required though.0 -
Sorry to say this but as above its unlikely theyll give you any sort of early settlement. A couple of payments missed doesnt really indicate a bankruptcy is likely.
Anyway, if you have late charges they may waive these for you, if you are lucky they may waive the last two months interest charges although with only £10k this is unlikely.
Your best bet is to pay up the £10k toward the debts or any others if it means paying them of in full. This would reduce your minimum repayments.
Good Luck0
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