Can I get a reduction if I pay off my card debt in full?

billy_bulldog

I am soon to be in a position where I can just about afford to pay off all my credit card balances in full (from the proceeds of a house sale). I know from previous experience that once you are in arrears and on a payment plan, lenders often offer a reduced settlement figure to try to get you to clear the full debt, however I am not in any kind of arrears or trouble now, so does anyone know if there is any way I can get something knocked off the balance if I offer to clear the balances in full?

Any tips, advice or comments greatly welcomed.

barbarawright

If you don't mind wrecking your credit record...

BigCraigJohn

Well you wont be paying interest in the future that you would be if you didnt pay them so thats a good thing.
As above the only way you are going to get a reduction is if they think they wont be getting the full amount, by which point you will of defaulted and had your credit history written off for 6 years.
However if you can it would be in your interest to pay off as much as possible, starting with the highest interest debt.