Making an offer on credit card debt

Chick1

Hi

I am new to this but I am hoping you might be able to help me!

I have a number of credit cards which I am hoping to pay off in full in the next month or so. A friend told me that I should make an offer of around half to the card companies involved. If I did this would it affect my credit score if they except?

Thanks in advance.:)

heatherks

..have you ever had a reduced payment plan on your account ...missed payments

i can't see how they will accept a full and final payment if you havent

Tixy

A said above your credit cards would be very unlikley to accept a reduced offer unless you are behind with payments, on a payment plan or have defaulted on the debt previously. If you had then they may accept a reduced payment. But usually you don't get really high discounts unless your debt has been sold on to a third party debt collection agency.

If you do agree a reduced full & final settlement then this will be marked on file as partially satisfied rather than satisfied and any future potential lenders would see this.