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Average percentage for settlement figures
zenshi
Posts: 1,133 Forumite
I know this is a 'piece of string' question but I'm just curious.
What percentages has anyone been offered for a settlement figure for a credit card debt?
What percentages has anyone been offered for a settlement figure for a credit card debt?
LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
0
Comments
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On mine at one point i got offered to pay just over 50% if it was done within two weeks 75% in two months and 100% any time over that of course every situation is different0
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I know this is a 'piece of string' question but I'm just curious.
What percentages has anyone been offered for a settlement figure for a credit card debt?
I'm not in a position to do F&f's but I'm told to start at 25% and work back from there is reasonable.
Apparently debts that have gone to a DCA are much more likely to be settled at a lower percentage.
hope this is of use.Debt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
Guide dog Tess, missing Scotland 2 years
DMP support no438.0 -
I know this is a 'piece of string' question but I'm just curious.
What percentages has anyone been offered for a settlement figure for a credit card debt?
If your going to go down this route, general advice is to start around the 30% mark, you can always negotiate upwards.
This does depend on weather the debt is held by the OC or a DCA, as a DCA is much more likely to accept a lower offer.
Make sure you get everything in writing, and that any remaining balance will be written off and you wont be chased for it, before you make any kind of payment.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
3 recent settlement, 85% (DCA) 70% (OC) and 25% (Oc Via agent)0
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