making an offer to cc companies

daz07footie07

hi everyone
great site loads of info
this is my first post
with credit card companies can you offer them a sum of money which is below what you owe so as to clear and close your account?
say your had 4000 pounds owing could you ask them if they would accept 3300 to clear and close account but how would you tell them you came across that sort of money maybe left in will or a bonus from?
any adivce would be great
cheers darren

CLAPTON

you can normally make a Full & Final offer i.e. offer less than the amount owed and get it accepted when

-you have failed to pay your contractual (i.e. minimum ) payments for several months
-and they have defaulted your a/c and marked your credit file so trashing your credit rating for the next six years
-and a year of so has elapsed with you paying a reduced payment
-and they have sold your debt to a DCA

realaledrinker

This is a site dedicated to money saving not about avoiding responsibilities. Grow up.

paradoxia

Daz - the simple answer if you are classed as a standard customer type, are paying you bill promptly and ontime, even just the minimum payment is NO.... why would they let you off £700 when they can charge you interest for the next 25 years.

As Claptop said they will not accept a deal unless you have defaulted and been passed over to a DCA or have a bankruptcy or IVA in effect.

exel1966

You Spent it - You Pay It !!!! Exactly the same post from a newbie last week !

daz07footie07

cheers guys for the advice but the abuse
i dont see it as avoiding my debt
if i wanted to i could stop paying move to the states where my wife is from and hide for as long as possible but thats not me.
also the debts may have come from a life or death situation not just a lavish life style of drugs sex and rock and roll.so instead of telling me to grow up maybe asking my situation would have been better

jamalfatty

daz07footie07 wrote: »

cheers guys for the advice but the abuse
i dont see it as avoiding my debt
if i wanted to i could stop paying move to the states where my wife is from and hide for as long as possible but thats not me.
also the debts may have come from a life or death situation not just a lavish life style of drugs sex and rock and roll.so instead of telling me to grow up maybe asking my situation would have been better

What sort of response did you expect?!

If you lent me £4k, would you be willing to accept £3,300 back instead?

Where or how the debts arose is irrelevant, you spent someone elses money and you have to pay it back.

These boards are for saving money, not committing fraud or shirking your financial responsibilities.

topsy1973

I felt compelled to leave my 'tuppence' worth (only lending it mind! need it back to pay my debts!)

What gives the people the right to be abusive and act like 'God' on these forums? I thought these forums were for support...He asked a question it didn't require the majority of you to make assumptions and in the whole be rude...

God I am so annoyed...heres me thinking we are all in the same boat and we don't judge...but how wrong I was.

tom188

we are all in the same boat

what boat is that exactly?

Well who ends up paying for bad debts - the average consumer who foot the bill through higher interest rates etc. Suggesting people shirk their responsibilities is not money saving. Just look round the board to see the many rants regarding increased rates.

topsy1973

just for good measure another rude person...

Why not give your opinion but without the hostility?

I am in the position of paying off debt... I know of people who have paid off CC companies with F and F settlements. But as one of the more helpful people said you have to have been a 'poor payer/unreliable'

The 'same boat' being we are all looking for/giving advice...not judgements.

Is it going to help the person the way you answered? No...

The message you were trying to get over could have been conveyed in a much more polite and possible helpful way.