Full & Final Settlement

sgx.saint

Hey.

Are there any rough guidliness that should be used when offering Full & Final Settlement?

For example I have a Barclaycard with £170 owing, I was going to offer £100 for final settlement, but I dont know if that is too low or high.

My partner has little money left over this month, so she is being nice and helping me clear some of the smaller debts.

Thanks

iolanthe07

I don't understand this. Are you contesting the debt? If you don't owe them the money then you should take it up with them; but if you accept that you owe £170 then you should pay £170 - that's what everyone else does.

Broken_hearted

Offer the £100 if the debt is defaulted. Don't feel pressured to pay the full lot if you can't afford it.

sgx.saint

Offer the £100 if the debt is defaulted. Don't feel pressured to pay the full lot if you can't afford it.

Yes, I have defaulted on all my credit accounts.

I am paying £1 a month token payment at present due to my personal cicrumstances which has been accepted. Therfore a final offer of settlement on the smaller balances should be quite tempting to the companies as at the rate im paying now will take many many years to clear the balance.

Thanks for the info ... I will make an offer later this week.

Wonder_Girl

A guideline is to start at 60% and then play tennis back and forth making 5-10% increases until they accept