Halifax Credit Card - Final Settlement Offer

trodat

Evening,

I am currently looking at making a final settlement offer to Halifax for a credit card that defaulted in December 2008. To date NO payments have been made on the account. Owing is £4,100 and I can afford £1,800. Does this seem acceptable?

Is there a SET formula to how they calculate this?

Also could anyone point me towards good template letters that I can send to Halifax?

Thanking you all in advance.

jonesMUFCforever

Turn this around and see what your opinion is - say you work for somebody but they have fallen on hard times they owe you £4100 but say they can only afford £1800.
What would your reaction be?

If you have not paid anything towards the debt since 2008 they probably have sold it on long ago to a debt collection agency.
Ask them and they will tell you.
You know my opinion.

Gromitt

Are you not on a DMP?

Maybe a better idea would be £100/month for 18 months and then maybe you'll have further money you can apply against it.

It would have expected a DCA to request a SOA long before now though.

trodat

jonesMUFCforever wrote: »

Turn this around and see what your opinion is - say you work for somebody but they have fallen on hard times they owe you £4100 but say they can only afford £1800.
What would your reaction be?

If you have not paid anything towards the debt since 2008 they probably have sold it on long ago to a debt collection agency.
Ask them and they will tell you.
You know my opinion.

Sorry but putting a personal spin on a BANK is something I am hardly going to do! Especially considering there current and past time activities....

trodat

Gromitt wrote: »

Are you not on a DMP?

Maybe a better idea would be £100/month for 18 months and then maybe you'll have further money you can apply against it.

It would have expected a DCA to request a SOA long before now though.

No - I have been out of the UK for a long time and from the letters I have received it was passed on to a DCA but the latest letters (well last year) have all been from Halifax?

I would offer the £100 a month however I am not in work and using a sum of money that has been left to me through inheritance so would rather pay what I can when I can.

AdamJK_2

trodat wrote: »

Sorry but putting a personal spin on a BANK is something I am hardly going to do! Especially considering there current and past time activities....

Poor you. Have those big nasty banks forced you to spend £4,100 you couldn't afford - and have the cheek to ask you to pay it back!?!

You should sue........

gizmo111

trodat wrote: »

Evening,

I am currently looking at making a final settlement offer to Halifax for a credit card that defaulted in December 2008. To date NO payments have been made on the account. Owing is £4,100 and I can afford £1,800. Does this seem acceptable?

Is there a SET formula to how they calculate this?

Also could anyone point me towards good template letters that I can send to Halifax?

Thanking you all in advance.

Start off a lot lower than that - offer around £1000 which is about 25% and see how they respond you have room for negotiation then.
The Debt Free Wannabe Board may be more suited to your situation....and more friendly!

leicsmarkyr

Is there a SET formula to how they calculate this?

Yes there is a formula for this type. It's CURRENT BALANCE OWED divided by 1.

Once you worked that out pay the amount calculated.

trodat

gizmo111 wrote: »

Start off a lot lower than that - offer around £1000 which is about 25% and see how they respond you have room for negotiation then.
The Debt Free Wannabe Board may be more suited to your situation....and more friendly!

Thank you - its nice to see not everyone is a condescending cu&t

dealer_wins

trodat wrote: »

Thank you - its nice to see not everyone is a condescending cu&t

Lets see how warm and fuzzy you feel when someone shafts you for 4 grand!!

wwfc_2

trodat wrote: »

Thank you - its nice to see not everyone is a condescending cu&t

I dont think people are being.

At the end of the day you borrowed it, you spent it so its only right you pay it back.

Even if circumstances change and it takes you 10 years its morally right thing to do

I'd love to go and max out my credit cards, i could have loads of fun spending 10K plus but i wont do it becasue i know i couldnt pay it back easily.