full and final

katevw1

Hi, I have 2 creation accounts and I was wondering if it is possible to do a full and final settlement on cards that are not on special interest rates or with debt collection agency? I just want rid of them. They ignored my budget sheet I sent in and they've ignored a photocopy I sent recorded delivery and they ignored my letter asking them to reduce or possibly freeze the interest, also sent recorded delivery. I don't know where to begin. Do I just offer an amount and hope that they accept, I don't know what would be a reasonable place to start. The balances are:

997.43 & 944.78

Any thoughts on how I could approach this?
Many thanks

Shoe_Gal

If you are able to make the minimum payments I can't see them accepting less - after all you have run up the debt? Or am I misreading and you are in financial difficulty?

david39

They won't make a special settlement with you while you are still paying them.

If you are contemplating clearing the accounts with substantial one-off payments (which an F&F settlement would be), then you are not in financial difficulty, so why should they take a loss on the deal?

You could try the ploy of stopping payments, which might get them to respond, but you'll trash your credit history for a long time.

iolanthe07

I agree with the others. Why would they accept less than what you owe? If it was that easy then everyone would do it.

katevw1

I have been self managing my own debt management for over a year now. These are the only two accounts that I have not managed to successfully sort out. I'm sorry that Ive sacrificed my life, work 3 jobs, don't have a car, live 15 miles from work, haven't had a holiday for 3 years. I put every penny I earn towards my debt and have every intention of paying as much back as I possibly can.
It was just a question. Thanks for the grilling.

CH27

katevw1 wrote: »

I have been self managing my own debt management for over a year now. These are the only two accounts that I have not managed to successfully sort out. I'm sorry that Ive sacrificed my life, work 3 jobs, don't have a car, live 15 miles from work, haven't had a holiday for 3 years. I put every penny I earn towards my debt and have every intention of paying as much back as I possibly can.
It was just a question. Thanks for the grilling.

There's no need for the attitude.
You gave people very little to go off.

katevw1

Apologies. I'm having one of those days and it feels like everyone is on my back. It was just a quick thought I had and so posted. Didn't know if it was possible or not.

CH27

katevw1 wrote: »

Apologies. I'm having one of those days and it feels like everyone is on my back. It was just a quick thought I had and so posted. Didn't know if it was possible or not.

No probs:)
They will not make special arrangments while you are still paying them the minimum each month.

Why don't you post your SOA & see if people here can advise you?

katevw1

Don't really feel I can do that. I don't pay rent, council tax, water, electric, gas. Ive done so many budgets and things. I'm self employed and my money isn't regular. I manage and I think I'm doing ok. I talked on the phone a number of times because I fell into financial difficulty and they sent me a budget form and they've ignored it. I just want rid of the accounts.

CH27

katevw1 wrote: »

Don't really feel I can do that. I don't pay rent, council tax, water, electric, gas. Ive done so many budgets and things. I'm self employed and my money isn't regular. I manage and I think I'm doing ok. I talked on the phone a number of times because I fell into financial difficulty and they sent me a budget form and they've ignored it. I just want rid of the accounts.

Where would you get the money to make a full & final settlement?

katevw1

unfortunately my partner's nan died. It's awful, but her death is going to help us. He has offered to use some of the money to pay off some of my debts.