We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
How much to offer in final settlement?
elisebutt65
Posts: 3,854 Forumite
Got an old debt I'd forgotten about - Just got my credit report from Experian - Oh God!!!!
Everything is fine on there apart from this one debt and it's with Nat West/Westcot.
Don't quite understand what it says though
It says defualt balance - £793 - Noooo way!!!!! but the underneath it says
Current balance £284.
I was paying this off at £0/month until Nove last year and think I got it down to about £450 then for a multitude of reasons it just slipped ,my mind - I used to phone up every month and pay it - didn't trust the standing orders lol.
Anyway - I'm going to pay the whole thing off as I want to get a Virgin Credit Card and they won't give it to me until this debt is gone. No other outstanding debts.
Should I make an offer for full and final settlement and how much should I offer them - I was thinking start off at £150 and go up - or is that too low?
TIA
Everything is fine on there apart from this one debt and it's with Nat West/Westcot.
Don't quite understand what it says though
It says defualt balance - £793 - Noooo way!!!!! but the underneath it says
Current balance £284.
I was paying this off at £0/month until Nove last year and think I got it down to about £450 then for a multitude of reasons it just slipped ,my mind - I used to phone up every month and pay it - didn't trust the standing orders lol.
Anyway - I'm going to pay the whole thing off as I want to get a Virgin Credit Card and they won't give it to me until this debt is gone. No other outstanding debts.
Should I make an offer for full and final settlement and how much should I offer them - I was thinking start off at £150 and go up - or is that too low?
TIA
Noli nothis permittere te terere
Bad Mothers Club Member No.665
[STRIKE]Student MoneySaving Club member 026![/STRIKE] Teacher now and still Moneysaving:D
0
Comments
-
Personally I would start at offering 20% and work up from that.
Good luckTerriblesaver - hoping to improve!!! Unsecured debt ... £[STRIKE]57938[/STRIKE] £51453
Official DFW Nerd no 176
Reclaimed and won Capital One £224, Paragon £758, GE Capital £63 and £1350 -
Oh pants - wish I hadn't rung them now - they had closed the account but are now re-opening it - lol.
Oh well - better to pay it off and get it off my credit record than have it hanging over me for the next 5 years.
They've transferrred it back to Natwest - in December but no contact from them???Noli nothis permittere te terere
Bad Mothers Club Member No.665
[STRIKE]Student MoneySaving Club member 026![/STRIKE] Teacher now and still Moneysaving:D
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards