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how much can i settle this for

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hi there
just a bit of advice, have a default through o2 due to expire in 2013 and its for £217.
How much could i offer to pay this off for so that it reflects as settled on my credit report? Any advice many thanks

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    Who is the debt with? o2 or a debt collector? have you paid anything towards in since the default?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • tixy you should get paid for these answers lol.
    I paid off £10 a week when it was directly with o2 back in 2008 i think but havent paid anything since it went to a debt collectors, (was out of work for a while).

    Its with Transcom now, I got a letter from them the other day, have no idea what theyre like to deal with
  • Tixy
    Tixy Posts: 31,455 Forumite
    Not familiar with transcom, but I'd start with offering about 20-25% of the balance. £50 maybe I guess.
    You know to do the F&F offer in writing and have a template letter?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • ive never heard of them either. Thanks for your help. I dont have the template letter. Id like them to send me written confirmation saying they will update my file as ive had nothing but trouble from another DCA as they havent done as they have agreed, i dont want the hassle again.

    is it best to get this in writing before i pay, and whats the max do you think i should pay x
  • Tixy
    Tixy Posts: 31,455 Forumite
    Factsheet and template letter here http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers
    I would also add in to the letter a debt your offer is valid until (2weeks or so from when you write).
    Def get a letter in writing from them first that its a full & final and that your credit file will be updated.

    How much to pay - as little as you can! Def shouldn't need to pay anymore than half max - and if you have the time to negotiate with them then less than that (if you want it settled pretty quick for something more important then you might be prepared to go to half? - not as your first offer of course!).
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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