We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Loan settlement offers
Hi,
I was just looking for some advice on loan repayments.
My boyfriend has 2 small (£700 and £1300) to O2 and Black Horse. He had reduced payments down to a token payment through CAB after losing his job some time ago but now he is now working again we want to pay them off with lump sums.
I just wondered what the situation was with offering a lump sum settlement of less than the total balance to clear the debt. I know people used to do this but didn't know if it was still possible and if so how do we go about it? Is it just a letter with the offer in?
Many thanks!
I was just looking for some advice on loan repayments.
My boyfriend has 2 small (£700 and £1300) to O2 and Black Horse. He had reduced payments down to a token payment through CAB after losing his job some time ago but now he is now working again we want to pay them off with lump sums.
I just wondered what the situation was with offering a lump sum settlement of less than the total balance to clear the debt. I know people used to do this but didn't know if it was still possible and if so how do we go about it? Is it just a letter with the offer in?
Many thanks!
0
Comments
-
Just phone them up and ask for a settlement figure its then upto them to offer and value.0
-
bengalknights wrote: »Just phone them up and ask for a settlement figure its then upto them to offer and value.
left to them they`ll want the full amount
OP get settlement figures then make offers,i`d start at 40% of the figure,but ensure you get it all in writing and that its a full and final settlement0 -
Really if your partner is working now he should pay his debts in full.
PooOne of Mike's Mob, Street Found Money £1.66, Non Sealed Pot (5p,2p,1p)£6.82? (£0 banked), Online Opinions 5/50pts, Piggy points 15, Ipsos 3930pts (£25+), Valued Opinions £12.85, MutualPoints 1786, Slicethepie £0.12, Toluna 7870pts, DFD Computer says NO!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards