Halifax - Settlements???

qwerty101

Does anyone know if the Halifax will accept anything lower than the outstaning balance?
My wifes income halved, and we ran up a £15k credit card debt with them - Stupid I know! My wifes income never returned and we are struggling to pay the reduced amount to them. I have around 5k in savings and would hope to offer this as a settlement. - Any ideas anyone?

cifpower

Unless you are seriously delinquent and possibly defaulted will they even consider a settlement. Either way your credit file will be trashed for 6 years

davethorp

Cut the card up, pay the £5k off the card and then the minimum payments will drop as will the interest then try and pay a fixed affordable amount above the minimum payment to repay the remainder

They will not accept £5k as a F&F

stephane_2

davethorp wrote: »

Cut the card up, pay the £5k off the card and then the minimum payments will drop as will the interest then try and pay a fixed affordable amount above the minimum payment to repay the remainder

They will not accept £5k as a F&F

I agree, that is the best option. Halifax will never accept a F&F settlement unless the account is in default and you don't want that as you would have probably debt collection agency on your back every single day