How to Negotiate a Debt Settlement with Your Credit Card Company

Tattytee

Hi there,
I'm posting on behalf of my mum.
She's got around £30,000 worth of credit card debt and has come into some money but not enought to clear it, around £10k short.
Could she (or is it even a good idea) contact them to ask for a lower settlement cost? If so what is an acceptable amount to offer (what % of the debt?).
She is close to retiring so would like to clear the debt so she doesn't have anything to worry about.
I know it doesn't look good on her credit rating - as it will say not paid full amount but does this really matter as fingers crossed she should being lookin for more credit now.
Any help would be greatfully received!
BIG THANKS!
Tara

stephane_2

Unless she has already defaulted on those credit card account then they will not accept a settlement figure....they will expect her to pay the full amount

Tattytee

She has missed payments in the past but i've taken over her accounts and now meet all the payments on time, however with the mojority of the cards she has credit agreements where she pays £30 off a month, not quite sure what its called she agreed all these prior to my knowledge.
Thanks for your help