Can I make a one off payment to clear whole balance

borofishbar

Hello,

I've recently sold my house and have a bit of money left over. I do have cards. Barclaycard and MBNA.

If i rang them to offer a one off payment, less than the current balance, would they accept it to settle and close the account??

Is there a way to come to some sort of 'deal' with them??

Thanks in advance

RayWolfe

Why should they? You incurred the balance, so pay it!

DawnW

Hi,
I'm no expert, but I think that, even if you did get them to accept a full and final settlement (ie less than the amount owing), this would count as some sort of default and mess up your credit rating. You can of course pay off the full amount owing any time, just by the normal route - this may improve your credit rating.

exel1966

You spent the money, you have the money to repay it, so repay it in FULL and stop shirking your responsibility to pay !!

Another, looking for a free ride at everyone elses expense !

DJ1UK

They will only accept a Full and Final payment once you have defaulted on your account (i.e. missed payments) for at least 3 months.

This will of course include fees/charges for missed payments and will be reflected on your credit report.

Probably not worth it!

DJ