Confused by b card/mercers

gailey_2

After advice on asking about settlement figures on here other night I sought lower figure than balance on barclaycard which is in arrears, over credit limit and been passed to mercers collection department.

I was brave rang all my creditors and got figures to work out.

Was dreading ringing mercers as they ring me like 10times a day.
anyway lady I spoke to was nice said they would take lower amount offered 1600 current balance 1735 but would go against me on my credit file. As wouldent be full and final just partail payment.
Someone said other jight that they can then sell remaining debt to another debt collecter so she advised me if I could to pay in full.

Am I getting a good deal and good advice here.

Spoke to hubby and hes like both our creditratings awful anyway he thinks I should just pay them 1600 but want to be free from them and could pay 1735.

Anyway im fortunate got inheritance cheque so can pay large amount of debts off which just leaves overdraft of 1700 which plan to clear by xmas. I dont have phone contract anymore as payg cheaper and dont plan to get any credit ever again its cash and savings all the way me from now on.

Hubby still has his debts 7500 creditcards, 2700 od and 15,000 loan.
His loan ends start 2015. hoping to clear one or both his creditcards this year if we can.

Might be pipe dream but in 5-6years time hope to have enough saved, debts paid off and higher income in order to get a morgage but banks now demand near perfcet credit record.

I was hoping that credit files sort of rolling 6years and in by time we apply all debts satisfied and we will look like good candidates.
hnece why im stressing about this barclaycard this as want to be free and repair my damaged credit rating.

what does everyone else think.

I think we need to get uptodate credit reports on both of us. hubby just got ne wphone contract so cant be that bad.
I think we may have defaults but no ccjs.

GeorgeUK

Settlement offers should be send in writing. The amount you affer wil ldepend on the amount your current payment are and how long it would take to pay the amount you are offering at the current payment rate - some companies would rather have a lump sum than wait for a few years.

They are offering you a reduction of about 8% which is not very much. I would write using one of the template letters with your own offer. Do not send any money unless they agree that the settlement is full and final (having partial on the credit file is okay), or that you will not be liable for the remainder of the debt.