Making a final settlement offer

,hills

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

Let_Robinson_Sing

,hills wrote:

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

Yes it is common practice to offer Full and Finals my DCA does it all the time

Call Direct Loan and say you MAY be able to raise £1700 to clear the debt in a final settlement, if they reject negotiate up a bit but at no time say you are able to clear it as they may just demand the full amount, so becareful in what you say.