Offering Settlement payments?

Bear_Spender

Just wondering if anyone has any feedback from offering your credit card companies settlement payments? Successes, knockbacks? is there any detrimental effect from doing so?

Are there any template letters to cover this?

Cheers

exel1966

If you do a search using your own thread title you'll find lots of other threads asking the same question and you'll soon find the answers you require as it has been asked here a thousand times before.

You could always pay what you owe though !

debtdestroyer007

there u go bearspender, all the best with FAFS

Mr A N Other
1 High Street,
Newtown,
Kent
R21 4RH
April 20, 2009

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

WITHOUT PREJUDICE:

Dear Sir/Madam

Re: 4563210025897412

We write with reference to the money which you are claming on the above account.
We can confirm that we are unable to offer to pay the money which we owe in full. .
However, I can raise £775 and I want to offer this an ex-gratia payment in full and final settlement of the
account. This offer is made on the clear understanding that, if accepted, neither you nor any associate
company will take any other action to enforce or pursue this debt in any way whatsoever and that we will be
released for any liability.
We also request that, if accepted, you will make an entry on a credit reference agency file relating to the above
account as "satisfied" in full.
Payment can be made within 2 weeks of receiving your written agreement of this offer and method of
payment.
We look forward to receiving your reply.

Yours faithfully

Mr A N Other

CLAPTON

You don't really give sufficient details of your currrent situation.
If you already have defaults and/or got CCJs then making offers of F&F will make little difference to your credit rating.
However, if the situation is otherwise then doing F&F can severely affect your credit worthliness.

Bear_Spender

CLAPTON wrote: »

You don't really give sufficient details of your currrent situation.
If you already have defaults and/or got CCJs then making offers of F&F will make little difference to your credit rating.
However, if the situation is otherwise then doing F&F can severely affect your credit worthliness.

Ok reading what i have read now, maybe its not sucha good Idea to even try it.

I have a number of cards, all of which I have never missed a payment, been late once or twice in about 10 years. I was just thinking could I offer a settlement figure with reflection upon me? Just as a way of knocking a few "chunks" off the cards? I have no CCJ's no defaults etc.

So probably left best alone me thinks!!

Bear_Spender

debtdestroyer007 wrote: »

there u go bearspender, all the best with FAFS

Mr A N Other
1 High Street,
Newtown,
Kent
R21 4RH
April 20, 2009

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

WITHOUT PREJUDICE:

Dear Sir/Madam

Re: 4563210025897412

We write with reference to the money which you are claming on the above account.
We can confirm that we are unable to offer to pay the money which we owe in full. .
However, I can raise £775 and I want to offer this an ex-gratia payment in full and final settlement of the
account. This offer is made on the clear understanding that, if accepted, neither you nor any associate
company will take any other action to enforce or pursue this debt in any way whatsoever and that we will be
released for any liability.
We also request that, if accepted, you will make an entry on a credit reference agency file relating to the above
account as "satisfied" in full.
Payment can be made within 2 weeks of receiving your written agreement of this offer and method of
payment.
We look forward to receiving your reply.

Yours faithfully

Mr A N Other

Thank you gor this, though like I have just sai probably not the best Idea fo what I was trying to achieve

normanmark

Remember that settlement payments will affect your credit rating.