welcome finance settlement offer

ninja22

Hi, my name is Michael and I was just wondering if anyone could help me. A few weeks ago I came into some money and decided to put in an offer to welcome finance for £3500 (my total I owe them is £6950), so thought this was a good offer. A few days after I had wrote to them They phoned me and said that unfortunately they are no longer able to accept offers other then full payment as of November 2010, although he said that this was a good offer. The thing is I have read a lot of blogs on welcome and have seen that people have been made offers.
Was just wondering if anyone has received offers from welcome or have any advice on what I can do to get them to accept this offer.
Thanks

[Deleted User]

Have you already defaulted on the loan? That would normally be a requirement of them considering a reduced offer.

Obviously not something you would want to do if you have plans for future credit, mortgages etc.

ninja22

I have never defaulted on my loan until today. I have recently been made redundant I can no longer afford the £275 a month bill to them as all my money is to keep up my mortgage payments.

[Deleted User]

If they allow you to make a lump sum payment with the money you have, that would presumably reduce your monthly payments to them?

Or use the £3,500 to continue making the payments. That will last you a year, by which time you will hopefully have found work. Either way, you'll avoid trashing your file.