Paying off credit card debt

miket1964

Hi All

I am currently on a payment plan with three credit cards, with a debt of around £9500 across the three cards.
After the death of my dad this year, I am due to come into some money in the new year, not a great amount, but it will be used to pay off debts.
Is it worth making an offer to the credit cards as a one off payment of less than the balance, for them to then cancel the rest of the debt and close the account.
Any advise welcome.
Regards
Mike

Curr946

Yeah if you have a lump sum, that will accept it in full and final settlement. Just make sure you get the offer in writting first.

miket1964

How much as a percentage should I offer?

Gromitt

You'll need to discuss it with them, they'll decide on an offer with you, you then get it in writing and pay that sum.

You can't really say "I'll pay 50% of what I owe as full and final settlement of the account".

kelvinguest

Hiya,

I was in this situation a few years ago.. offer them what you like and negotiate up.. i remember i had a 9k loan with halifax - i paid back 4k and then i was made redundant. i told them i was redundant and offered 2k to settle the remaining 5 and they took it.. good time:)