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Requesting a settlement amount from a card company
JohnCC_2
Posts: 6 Forumite
in Credit cards
My father recently took over sorting out my half-brother's finances while he was "indisposed", and discovered that if you call a card company and say that the card holder is having debt problems and wants a final settlement amount to clear the card, they will knock up to 25% off the total as long as it's paid off in one go.
He's suggested that I do the same with an outstanding credit card balance that I have. What I'm concerned about is, will this affect my credit rating? Any tips on the best approach to take with the card issuer?
Thanks in advance!
He's suggested that I do the same with an outstanding credit card balance that I have. What I'm concerned about is, will this affect my credit rating? Any tips on the best approach to take with the card issuer?
Thanks in advance!
0
Comments
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It will destroy any chance of credit in the near future. They will only do it if they think you are in financial trouble.0
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as above, it will also say partial settlement marker on it0
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