Egg - Negotiating a clear balance

Bongomaag

I have an outstanding debt of £2587 on my Egg Card. I was one of the first round of customers Egg disposed of (like many others with a good track record) in January 2008 & am looking to make a payment of £2000 with a £2150 compensation payment I have just received.

Do any forum members have any experience of negotiating with Egg or any other credit card company to pay off their account with a one-off lump sum which is less than the full amount owed? A few friends have said that they have done a similar thing with various long-standing debts they have but i’m not 100% about how commonplace this practice is.

Any hints or experiences would be greatly appreciated before I make the payment – this is the last debt i have so would be great to have it cleared for good!!

Many thanks Jon

johnllew

I don't think you stand a chance. IMO you'd be best to pay off all you owe; you'll feel a lot better for it.

cifpower

Normally companies only accept settlement figures if you have been seriously delinquent. Also, it will probably be marked as "arrangement to pay" on your credit file which will harm you for 6 years

NickX

Do a search on the forum for "Full and Final Settlement"

This question gets asked quite a bit

Bongomaag

Thank you for the help folks - I will set about paying off the rest of the balance in full!!

Cheers Jon

credit_cardprob

Hello Jon, I'm planning the same ! Wish you good luck !