Credit card question

jamesey07

that's what i mean if you want to do a F+F you will have to let the card default, normally they'll start sending you silly threatning letters but don't worry about them to much, in time you'll get an offer from them that offers a % off, though normally ignore a couple of these to though i must state that your credit file might be messed up for 6 years r so, but i suppose with the money u save from paying back your full debt will come in handy enough instead of giving it to the parasites..

izools

INFINITY wrote: »

Hi guys

Are you saying it is better to miss a payment or two and then contact the card companies.

If your intention is to clear the cards for less than you owe and you don't care how badly if affects your credit rating, then yes you will have to miss three to six payments in a row, so that the account falls into default, and after a few more months of the account being in default they should be amenable to a partial settlement.

There's no way to get off with a partial settlement without royally screwing up your credit score by letting the account default, end of


Are you actually in any financial hardship at the moment?

jamesey07

what u need to do is just ignore it for about 6-8 months, don't take there phone calls and ignore there letters, they will prob ring u a few times the first few weeks they have got no payment, then after a few months they will see the debt to a DCA, the will beging to contact u and send silly letters that try and scare people, ignore these to for a bit, then you'll eventually get an offer off the debt, it'll prob be low the first time so maybe ignore that to untill say 50-60% of the debt

TFD_2

jamesey07 wrote: »

what u need to do is just ignore it for about 6-8 months, don't take there phone calls and ignore there letters, they will prob ring u a few times the first few weeks they have got no payment, then after a few months they will see the debt to a DCA, the will beging to contact u and send silly letters that try and scare people, ignore these to for a bit, then you'll eventually get an offer off the debt, it'll prob be low the first time so maybe ignore that to untill say 50-60% of the debt

The OP wanted to save a few quid, and you're telling him how to f*ck his credit rating up for the next 6-7 years. Nice work.

TFD_2

INFINITY wrote: »

Hi guys

Are you saying it is better to miss a payment or two and then contact the card companies.

Most of us are saying it's best to PAY YOUR BILLS

jamesey07

he/she wanted to know about getting a wack of the debt wrote off, and i said the way to do that, why's it best to pay your bills tfd? if it's taking all your money and causing misery why put yourself through that.

TFD_2

jamesey07 wrote: »

he/she wanted to know about getting a wack of the debt wrote off, and i said the way to do that, why's it best to pay your bills tfd? if it's taking all your money and causing misery why put yourself through that.

Did you even read the post? He didn't say it wsa taking all his money and causing misery. He was a chancer that thought he could save a few quid.

jamesey07

i know but cleary it must be causing a bit of misery if he doesn't wanna pay it all, i would also say to check the CCA as i think there is legal ways you can get out of paying any of the debt which would be even better for you

paperkool

Your record will of course reflect a settlement, however your payment is evidence of your stability. Believe it or not, banks are changing names and creating lenience policies to try and loan you more money. If your concern is a clear record for borrowing more, some banks don’t even care. They actually like to see you with a tainted record and making a settlement. Borrowing depends upon the bank. Your rates will be different, however you’ll be eligible in some places for a decent lone. No one is with out blemish, not even the United States Of America, whom owes money.

never-in-doubt

jamesey07 wrote: »

i know but cleary it must be causing a bit of misery if he doesn't wanna pay it all, i would also say to check the CCA as i think there is legal ways you can get out of paying any of the debt which would be even better for you

Absolute nonsense as I told you in my last post to you. There is no way on this planet the OP should consider your advice unless they want to be without any credit facilities for the near future. You keep quoting unenforceability but there is no recourse for it, the OP wants to offer reduced payments and we've told him the lenders will not consider this. That doesn;t mean we're all saying enforce s.127 now does it? His credit rating would be trashed and your advice would be better served on CAG me thinks....