We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Paying off a card
googlebot
Posts: 1 Newbie
in Credit cards
Hi
Noob on here with a pressing question.
I have the cash to pay off a 7k credit card and I am not in financial trouble.
People have told me in the past that if you ring a credit card company and tell them you are in trouble and then offer to give them a lump sum that is below your balance they will sometimes accept the offer.
Clearly I would not be being entirely honest with them but sod em they are a credit card company who are charging me 29%APR.
Is this even possible though?
Noob on here with a pressing question.
I have the cash to pay off a 7k credit card and I am not in financial trouble.
People have told me in the past that if you ring a credit card company and tell them you are in trouble and then offer to give them a lump sum that is below your balance they will sometimes accept the offer.
Clearly I would not be being entirely honest with them but sod em they are a credit card company who are charging me 29%APR.
Is this even possible though?
0
Comments
-
It is indeed. It helps if you miss a couple of payments or so. Make sure you get a default registered, so that you can't get any more credit or a mortgage for the next few years.
Then, once it's passed to a collection agency, and your credit report is trashed, you should be able to strike a deal.
Alternatively, you could pay them back.0 -
Deleted_User wrote: »It is indeed. It helps if you miss a couple of payments or so. Make sure you get a default registered, so that you can't get any more credit or a mortgage for the next few years.
Then, once it's passed to a collection agency, and your credit report is trashed, you should be able to strike a deal.
Alternatively, you could pay them back.
Made my evening :rotfl:Can I find out my credit score?You do not have a single credit score or rating. Different organisations take different information into account when working out your credit score and may have different scores for different products. (Kindly from Experian)0 -
Clearly I would not be being entirely honest with them but sod em they are a credit card company who are charging me 29%APR.
Pay off the card with the money you have and they won't be charging you 29% any more. Then, as you dislike them so much, you can cut up the card and have nothing more to do with them.loose does not rhyme with choose but lose does and is the word you meant to write.0 -
what causes people to think like this ?Mortgage free
Vocational freedom has arrived0 -
0
-
I had a CITI card with £5000 on it when I asked for a settlement figure, they knocked £500 of it! Result...... If you dont ask, you dont get!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards