Advice needed re offer to settle CC debt

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A debt collection agency has offered to accept £880 in payment of a remaining £1700 debt (have been making regular monthly payments for 18 months to clear the debt so it started much higher and this is the first time they have made any such offer).

Whilst I am happy to repay the debt in monthly installments, I can make a £880 repayment at this time and wondered if this offer will legitimately wipe out the debt or is it too good to be true?

Any advice on how to proceed would be gratefully received.
Thank you.

sickasachip13

Hi,

You could read some of this thread (the most recent ones will be most useful) https://forums.moneysavingexpert.com/discussion/115430

There is an advice sheet around for this too, but I'm not sure where! You could also speak to the National Debt Helpline, which is a free service and will set out your options.

SAAC