Bos Visa - Would They Accept An Offer

timnjack

Hi folks, any help with my query would be much appreciated. I have a BOS visa card which is going to take me forever to clear off as the interest alone each month is crippling me but my question is this. I have been hearing of people in similar situations who have made offers to visa, etc. in full and final settlement of the debt. I wondered if anyone knows this to be true, could I offer to pay a certain amount in full and final settlement of the balance and if so what amount is advisable, 40%, 50%, etc. I would appreciate any advice you guys could give me as this is really getting me down. Thanks.

King_Of_Fools

Yes, you can default on your debt and offer a final settlement of less than the debt if your are in debt crisis. Be aware, however, that this route should only be taken as a last resort as it will stop you getting credit for anything else (e.g. mortgage, loans, mobile phones, etc.) for the next six years!

youknowwho

timnjack wrote: »

Hi folks, any help with my query would be much appreciated. I have a BOS visa card which is going to take me forever to clear off as the interest alone each month is crippling me but my question is this. I have been hearing of people in similar situations who have made offers to visa, etc. in full and final settlement of the debt. I wondered if anyone knows this to be true, could I offer to pay a certain amount in full and final settlement of the balance and if so what amount is advisable, 40%, 50%, etc. I would appreciate any advice you guys could give me as this is really getting me down. Thanks.

Have you tried ringing BOS? Give them a ring and ask if someone can have alook to reduce your interest rates. They wont be able to talk about a settlement figure with you, but they they will have a look at reducing your inteerst for the tome being, dont expect miracles thou, this is just a something to save you a few pounds in the mean time.