should i pay it off or ask for a discount?

Your-MUM

ok iv had an egg card (14%apr) now its a barclays card 26,9%apr. for 6 years

im in a position to pay off the £3000 in full

the account has been closed by barclays and apparently egg told me a few years back it had been converted into a lone?

i cant see any ppi on the account statements just a whooping hike in the APR so.

should i ring up and pay it off and live my life or can i negotiate a cheaper settlement? ie a discount.

is it worth getting a ppi firm to look at it as i have been told they used to hide ppi in the payments.

im not good with money but i pay my way and now don't have any debts

any advice would be good Please:money:

ShALLaX

If you can pay it off, then you should. Your attitude contradicts your statement about how you "pay your way." Can you explain why you deserve a cut rate?

miduck

Pay what you owe - why do you expect a discount?

Your-MUM

its all good its just the fact it interest rate is not what i have on my credit agreement ,

and i will pay it off in full i'm not expecting any discount but some time if you ask. well you never know.

out of interest why are you both a bit sower over my question?

ShALLaX

I get frustrated when I see people enter legally binding contracts that they either don't understand or fully realise they won't be able to keep up their ends of the commitment. Rather than accept responsibility, a fair percentage of people look for a get-out clause.

I suspect if you read your original contract, your rate was subject to change based on a certain notification period.

miduck

Your-MUM wrote: »

its all good its just the fact it interest rate is not what i have on my credit agreement ,

and i will pay it off in full i'm not expecting any discount but some time if you ask. well you never know.

out of interest why are you both a bit sower over my question?

I'm not sure what sower means? If you mean sour, I am not, I simply believe people should pay the debts that they incur. I also believe that you should not enter into a contract if you do not understand what you are agreeing to.

Your-MUM

well i'm not what you describe, but my question was what would be hidden , no matter iv just paid it off in full and for the first time in years im now free.

its funny how people look at questions on forums and just come to the same old bigoted vue.

and in my answer "i pay my way" i'm in a low pay job, iv brought up 2 kids ok ish and never !!!!ed on anyone fire works , im not smart with money true but thats just me

thank you anyway

miduck

Your-MUM wrote: »

well i'm not what you describe, but my question was what would be hidden , no matter iv just paid it off in full and for the first time in years im now free.

its funny how people look at questions on forums and just come to the same old bigoted vue.

and in my answer "i pay my way" i'm in a low pay job, iv brought up 2 kids ok ish and never !!!!ed on anyone fire works , im not smart with money true but thats just me

thank you anyway

No problem, I'm sure when you call your lender they will be happy to process your payment.

YorkshireBoy

Your-MUM wrote: »

should i ring up and pay it off

And 30 minutes later...

no matter iv just paid it off

I'm wondering why you bothered to type out such a long background and question?

Anyway, just so you know for future, any reduced settlement will generally only be possible if the account is well in arrears (6 months or so and bordering on default). Think about it...you're a very profitable customer for them when you're paying 26.9% APR. Why should they lose this profitability when there's no risk of default?

And one final thing...even if you did manage to get a reduced settlement, they'd almost certainly place a marker on your credit file meaning mainstream credit would be hard to obtain for a good while...possibly years.

jonesMUFCforever

OP you have given yourself a massive discount!!
By paying it off now you avoid having to pay 26% on the debt.
Well done.

broad-sword_2

Your-MUM wrote: »

well i'm not what you describe, but my question was what would be hidden , no matter iv just paid it off in full and for the first time in years im now free.

its funny how people look at questions on forums and just come to the same old bigoted vue.

and in my answer "i pay my way" i'm in a low pay job, iv brought up 2 kids ok ish and never !!!!ed on anyone fire works , im not smart with money true but thats just me

thank you anyway

Fair play for trying to save a bit, but you should, and will, end up paying back what you owe. Welcome to the loans forum;)