Clarity Collections

mancboixxx · 5 May 2010 at 9:51PM

Hi Guys

I recently (stupidly) went to a payday loan company and borrowed some money. At the time I was earning bonuses and getting overtime. Well sadly that stopped and my basic didnt cover anything. Thats all sorted now and Im 1 debt from being debt free :j

My question is, I owe Clarity £400 after setting up a arrangement and paying £60 a month. I can now pay off say 75% of this in one go and on the website it says 'discounted settlement for a one-off payment'. Does this mean they accept a reduced amount if I pay in one go? And what sort of figure would they want on a £400 debt? Or does it mean I pay them back a part of it and the rest gets sold on and so on?

Any help is appreciated

Thanks

scouselad1974 · 5 May 2010 at 10:02PM

Hi

I was making reduced payments to a credit card and they passed my debt to Clarity who offered me a discount of £150 to settle a £500 debt before I had even asked them, unfortunatley I didn't have the funds to accept their offer.

Make sure they offer you a reduced settlement as a Full and Final settlement and get it in writing first, otherwise as you say they will sell the remaining debt on.