pay off credit card question!!

deanchilds1

Hi guys and Girls!!

Ive got a barclaycard with £3.7k oweing on it and want to pay it off, ive heard that you can get the amount reduced if you pay it all off. Ive done this before with loans but never with credit cards? Is what ive herd nonsence or can this be done?

thanks

CLAPTON

in general to get a reduction ( a F&F ) your need to:
-default on the debt and have your credit record trashed for six years
-agree a reduced payment plan and pay for a year or so
-wait until the debt is passed to a DCA
then you have a good chance of getting the DCA to agree to a F&F but for CC have are currently being paid off in the regular way then no.

deanchilds1

Fort this would be the case. Thanks for clearing this up. Will call them tonight to double confirm just incase as car is on ebay and hopefully will sell before any more damage is done.