offering debt collectors a settlement

Sophie222

Hi,

ive been in bed for almost 6 years now,

ive decided its time to stop ignoring the letters from debt collectors and finally clear the cloud that constantly hangs ver me.

My debt in total amounts to £7676 (made up of 4 different debts) - loans and credit cards

If i were to pay off the debts in a lump sum would i get a discounted settlement offer?

if so what percentage do i offer?

there is not much advice out there online?

can anyone help?

thanks in advance

YorkshirePoolie

Hi Sophie222,

I've not heard that you can get a discount by paying in a lump sum, but good for you if you can.

Maybe call them and ask if they have a discounted settlement figure you could pay?

Good luck! :-)

VitaK

Before you send out full and finale settlement offers, you should establish when you last acknowledged the debt.

Battleaxe44

I was thnking the same thing, maybe the debts are statute barred by now and this is a different kettle gish regarding settlement. You say six years, so maybe they are SB by now.. oh yes the debt will be there, and before you offer a settlement you will need to find out how much of the debt is made up of charges and interest. why pay more than what you have too???