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Offering a pay off?

stacey21_2
stacey21_2 Posts: 939 Forumite
in Debt-free wannabe
Hi everyone,

I have seen some threads on here where a person has discussed with their credit card company / loan company to offer a lump sum payment and some of the debt is written off... Why does this happen and is it only in very serious circumstances?

Thanks all
:staradmin:staradmin:staradmin:staradmin:staradmin

Comments

  • Broken_hearted
    Broken_hearted Posts: 9,553 Forumite
    It happens mainly once the account goes to a DCA.
    Barclaycard 3800

    Nothing to do but hibernate till spring
  • Kevicho
    Kevicho Posts: 3,216 Forumite
    I hate to say this but dont get your hopes up.

    If your debts are becoming a problem to pay off, then contact cccs or payplan and they will help negotiate a payment plan.

    Or you could go down the IVA route, but your creditors will have to ok this, so if your debt is not considered serious then they may decline.

    Have you posted your SOA, and your debts to see if we can help?

    Kev
  • stacey21_2
    stacey21_2 Posts: 939 Forumite
    It's not that the repayments are a problem as such, its just that since joining this site I have realised how stupid I have been, thinking if i paid something with a cc i would pay it back - then didnt.
    Also had a 'consolidation' loan to pay off car and cc, then made the fatal mistake of not cutting up cc and spending on it again!
    :staradmin:staradmin:staradmin:staradmin:staradmin
This discussion has been closed.
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