Reducing the balance

roz999

Hi everyone

I read an article somewhere that if you have say £3000 debt on your c.c. and a family member was gonna gift you some money you could call up the c.c. company and negotiate with them to reduce your balance if you agreed to pay it off in full.

I can no longer source the article so I was just wondering if anyone else had read this.

james32_uk

A CC company would only consider such a request if they believe the customer is in financial difficultly that may prevent the CC card company from getting their money owed in full following the T&Cs of the account.

immoral_angeluk

Usually for a company to accept a reduced settlement the account would have had to have been defaulted for quiet a while and in arrears. Normally DCA's are more open to settlements that original creditors.

newmum1

Are you meeting the monthly repayments or have you already defaulted??

roz999

meeting them but its a real struggle