Would this be accepted for full and final?

ViolaLass

So the amount (c£3700) that you mentioned is not the amount you currently owe, it's the total you will pay if you make all the monthly payments. In which case there's nothing to be lost from asking.

Charityworker

It is the amount I currently owe. I've already paid the interest up front.

ViolaLass

If the settlement figure is less, then the c£3700 is NOT the amount you currently owe, it's the amount you will have paid in total by the end.

Monkeyballs

Try it, nothing to lose.

You can make an offer and if they accept it fantastic, if not then nothing ventured nothing gained as making an offer doesn't impact upon your credit file.

MB

Thrugelmir

Charityworker wrote: »

It is the amount I currently owe. I've already paid the interest up front.

Unusual for interest to be charged upfront.

bigadaj

Thrugelmir wrote: »

Unusual for interest to be charged upfront.

I'd agree, I think it might be explained like this as they think it is easier to understand.

Ultimately no harm in trying to pay back less, they are unlikely to accept and if they do it will almost certainly have anAdverse impact on your credit file, but if you don't need. Credit for a few years then it may be a viable option.