My credit card company are willing to accept a reduced lump sum to pay my cards off

Edinburgh2369

I have two cards with a well known cc company. I have run into some financial difficulties due to lack of work.

After some decent communication with the cc company they have said " they are willing to accept a lump sum, but are not at liberty to say how much"

Inotherwords they want me to make them an offer to clear the two cards

I would be grateful for any advice or posts from people who have found them in the same situation.

I am not sure how much to offer them. Am sure whatever I offer they may knock back first couple of offers anyway.

I owe around 10k. Was thinking of starting at 10% ie a grand

BoGoF

:rotfl:.....that's the reaction you'll get from them

YorkshireBoy

How far behind with payments are you?

How much money do you have?

Who are the "well known CC company"?

Will you, or any financial associate (current or future), have a requirement for credit at any time in the next 6 years?

jdp1970

I did this. I offered 40% of the outstanding amount and they accepted.
But you might have to dig your heels in..i had to.
Offered them silly money and eventually came to a compromise.
Hope this helps!