Credit card debt - can I make an offer?

djm71

I've got debts of around £18,000 spead between 2 credit cards, a large portion of which has been interest, missed payment penaties etc. I've recently come into some money from my portion of the sale of a house, around the same amount.

Obviously I want to use this money to clear my debts but is it worth trying my luck and seeing if I can get away with paying less than the the full outstanding balance, ie approaching the companies and saying that I owe £9000 but can only manage to pay £7000? Has anyone got any experience of this or am I just dreaming? Any idea if making such an offer would negatively effect my ability to get credit for a mortgage in the future or have any other implication?

Any advice of how to handle this appreciated.

CLAPTON

firstly if they have levied charges then you can claim them back ..best to read the following site for full detrails

http://www.consumeractiongroup.co.uk/forum/

sort this out first and see what you can claim anyway.

check you credit record files .. they may well be pretty terrible anyway.

it is possible to do a full and final settlement but it depends upon the details

usually it works

if the debt is defaulted
its been underpaid for several years
its been sold on to a DCA

etc
check your credit record and give us some more dertails