Pay credit card off with redundancy - any way to save without IVA?

MoneySaver_Wannabe

Can anyone help me please?

I am new to the forum and due to be made redundant, my ex partner left 10 years ago and ran up thousands of £ debt in my name, then IVA'd himself. I have worked hard to pay this off and have £10,000 left I am due a redundancy payment and will have enough money (just) to pay his off I am wondering if there is anyway I could clear this debt for less money without the use of IVA / bankruptcy etc.

Thanks in advance to anyone for advice

Tixy

If you are currently up to date with payments, and don't have any defaults or repayment arrangements with your creditors they are very unlikely to settle for less than the full amount.

I guess you could try writing to them and explaining your redundancy situation and see if they would consider reducing the debt - but you may find even if they did agree to this that it would result in negative markers on your credit file and the debts only being marked as partially settled which will affect your file for years.

If you do have defaults / are in repayment plans they may accept a reduced full & final settlement - the way to find out would be to write to them and make an offer.

MoneySaver_Wannabe

Thanks Tixy I thought as much just hoped there may be another way out xx