Vanquis Full and Final offer

sjtomkinson

Hi,

I'm looking to get a mortgage in the next 12 months and wanted some advice on paying current debts.

I've just fully paid my NatWest credit card £1,200
I have a £750 aqua card - I intend to pay this in the new day or two.

I also have £2,500 Vanquis credit card (don't ask). As I don't have the full funds to pay this off completely I was looking to offer them a full and final offer for the card. I have not default on this account.

I just wanted to see if I offered say £1,800 and they accepted would this go against a mortgage application as more than likely it will show as partial settlement?

Thanks
Stephen

Tixy

I would expect vanquis not to accept your offer or certainly not with out placing a default first.

I would expect any recent partial settlement would be viewed as a negative by any potential mortgage lender.

Powered_By_Pies

Agree with Tixy, when it comes to creditors, they don't like it if you can pay one of them off in full but only offer a certain amount which is less than the total for the other.

Fair play on getting the unhelpful bank off your back though, and if you can get rid of the Aqua card, maybe these would help unlock a little extra in your monthly budget that you could put towards a higher monthly repayment to Vanquis to get rids of them a little quicker as well?

sjtomkinson

Yes some good advice thank you. I'll just pay off what I can for the minute with vanquis and then hopefully pay the remaining in the coming months