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Negotiating reduced payment in full and final settlement?
I took out a loan in 2004 for £5000 with the Halifax. After falling behind on payments, the loan was referred to Blair Oliver and Scott who it seems, from reading other posts, are part of the Halifax.
After making a payment of £1000 in 2008, I've been making payments of £70 per month. They have contacted me since to revise the payments upwards but I haven't been able to pay more as I have been a student I was made redundant at the end of '08.
I recently saw my credit report, which showed that payments over the last 36 months have been late (status code 6) even though I have made all the payments agreed with BOS on time since 2008.
I want to settle the debt fully - But I can't afford to pay the full sum. I will still be a student for another year too.:eek: How much is realistic to offer BOS? 30 - 50%? Has anyone successfully reduced their settlement with them? Would an reduced settlement affect my credit rating? Please help!
After making a payment of £1000 in 2008, I've been making payments of £70 per month. They have contacted me since to revise the payments upwards but I haven't been able to pay more as I have been a student I was made redundant at the end of '08.
I recently saw my credit report, which showed that payments over the last 36 months have been late (status code 6) even though I have made all the payments agreed with BOS on time since 2008.
I want to settle the debt fully - But I can't afford to pay the full sum. I will still be a student for another year too.:eek: How much is realistic to offer BOS? 30 - 50%? Has anyone successfully reduced their settlement with them? Would an reduced settlement affect my credit rating? Please help!
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