payig collection agencys lump sums ?

beautifultrouble

If Welcome finance passed my £4000 loan (should be £3000 but they added a ridiculous amount of interest and charges on) to a collection agency can I offer the collections agency a lum sum payment to clear the debt? i can afford to pay them £2000 but will they accept this and clear the debt ?
i am unemployed since being made redundant, and my husband is recieving this payout from overtime worked. however he cannot afford to pay all our food/utility bills and welcome £191 per month ?
They are being extremly unreasonable, rude and unhelpfull.
any info would be fab
thanks

wacko911

Ask them, the worst they can say is no. They prob bought the debt for peanuts so depending on how much they paid they might just take you up on the offer.

Obviously get it in writing and full and final etc... as they may well take the 2k and then come after the other 2k and have no memory of 'your discussion'

crazyguy

beautifultrouble wrote: »

If Welcome finance passed my £4000 loan (should be £3000 but they added a ridiculous amount of interest and charges on) to a collection agency can I offer the collections agency a lum sum payment to clear the debt? i can afford to pay them £2000 but will they accept this and clear the debt ?
i am unemployed since being made redundant, and my husband is recieving this payout from overtime worked. however he cannot afford to pay all our food/utility bills and welcome £191 per month ?
They are being extremly unreasonable, rude and unhelpfull.
any info would be fab
thanks

In my view I think you should write a letter and offer between 10-25% as a one off full and final settlement figure then they will write back and ask for approx 80% but keep negotiating with them as in quite a few instances you can get away with paying a lot less in one go as opposed to a payment plan set up over a few years, remember that any agreement you make with them must be in a written format on a letter head with the full details and the acceptance figure listed before you make any payment, also get a confirmation after payment has been made and request that they post this to you with details stating that the account is cleared.

zppp

And do not pay for F+F by cheque whatever you do.