offering bank half back?

jenkie_2

Hello, to cut a long story short, my husband has been off work for over 6 months and has recently gone back.

He is 2 months behind on a loan with the bank, we are able to offer them half of whats owing as my parents have said they will lend it to us if the bank will accept it.

Do banks do this?

If for example a loan was 5000 and you owed 4500 and you offered 2250, rather than it go to court would they accept this does anyone know.

Thanks

stacey21_2

I asked this question too and someone gave me the advice that no, banks don't usually do this, I think you would need to be in a DMP or similar, with considerable amount of debt to write off..

Someone will be along with more info

xgingerx

Hi, I can tell u years ago I defaulted on a loan and my ex started to pay it back as it was a loan o got for her, anyway I left the country and she stopped paying it and a ccj was registered against me at my old address as I wasnt there, anyway after 5 years I came back to the uk unknown to me what had happened until i got my credit file, I contacted barclays to ask about it and it had been passed on to a collection company. I wanted to clear this up so I called them and asked what the full and final settlement would be to close the file, they accepted 4,500 agains a 8,200 debt.
After this I went to court regarding the CCJ as it was registered against me while I was not at that address and also because I was living and working out side the uk. As I had settled this debt the judge set aside the judgement and stayed it, which means it came of my file never to raise its head again.
Slightly different circumstances but might help u.

If you are in difficulty i would recommend you contact the CCCS as they can help you sort your problems out rather than trying to do it on your own.

Good luck

xgingerx

Also if he is only 2 months behind this is not a lot so would talk to the bank first as they might be able to work around it, why the rush to settle the loan in full ???

regularsaver1

has insurance not be paying loan?

I'd dount they would except half the amount owing, but they may come to a monthly repayment arrangement

SparciaM

Most banks wont do a final settlement until about 6 months missed and the loan has been passed to recoveries, then they'd only do a settlement if they get more money from you than from selling it on.