We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Consolidation money to pay of credit cards
MRHARDUP
Posts: 3 Newbie
Having recently re-mortgaged I (we) now have some £80k of credit funds to pay off unsecured loans and credit cards (mainly) totalling approx £120k. The remaining borrowing of £40k should be comfortably financed by our joint incomes BUT I wonder has anyone had any experience with the credit card companies...i.e in asking them to accept 75% (or so) of the outstanding debt (no arrears or missed payments) in FULL and immediate settlement. Could be attractive for them and certainly better for me!:rotfl:
0
Comments
-
If you aren't in arrears or dealing with debt collections agencies they aren't going to accept reduced settlements as you're still making contracted payments and they're expecting you be paying back the debt over a number of years while they gain loads of interest from you.Total 'Failed Business' Debt £29,043
Que sera, sera.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards