How much to offer in final settlement?

elisebutt65

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

terriblesaver

Personally I would start at offering 20% and work up from that.

Good luck

elisebutt65

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???