Making a final settlement offer

,hills

SORRY, PUT IN WRONG AREA

Is it a usual practise for Companies to accepet a reduced final settlement payment.

I owed Next Card about £400 last year and when trying to come to a monthly agreement, they offered me a final payment of £170 to clear the debt, which I accepted.

I owe Direct Line loan about £2,500 and am paying pack £20 per month. This has been going on for years.

Do you think if I called them and asked what an acceptable final payment would be, it would cause alarm bells ringing, them thinking I've come in to money.

I havn't but am curious what it would be if there was one.

Thanks

doingwhatican

,hills, I once had a loan of £1500 that I took out in 1991. I defaulted on the loan got a ccj moved house etc and forgot about it. In 2001 I had a letter from a debt collector who had tracked me down and I arranged to make monthly payments of £25 to clear this debt. I had got the balance of the debt down to about £900 and then I contacted them to offer a final settle ment. They asked me to make an offer, so I offered them 50%. They told me they would write to me with an answer. A couple of days later I got the letter and they had accepted my offer, so I popped a cheque in the post and paid it off. I got my records updated with a satisfied and the debt has now gone. So some times it doesn't hurt to make and offer, all they can say is no.