Repayment Question(s)

RickS650

My question is twofold. Firstly I got into difficulties about 5 years ago and had to make repayment arrangements with my 3 CC companies. My credit score is trashed and that is something I have to live with. My repayment to each company is £100 per month, and I have been managing this very successfully. I now owe £2700 to each company. If I could find the money what is the likelihood of the companies accepting a lump sum of, say £1500, to close the debt off? If I could get a card with a limit of £4500 and 0% interest and pay £300/month I could clear this in 15 months rather than the 27 months, what card should I try and apply for?

Many thanks

Ebe_Scrooge

RickS650 wrote: »

My question is twofold. Firstly I got into difficulties about 5 years ago and had to make repayment arrangements with my 3 CC companies. My credit score is trashed and that is something I have to live with. My repayment to each company is £100 per month, and I have been managing this very successfully. I now owe £2700 to each company. If I could find the money what is the likelihood of the companies accepting a lump sum of, say £1500, to close the debt off? You could ask them - though I suspect their answer may well be "If you can find a lump sum of that amount you can afford to pay off the whole debt". But no harm in asking. If I could get a card with a limit of £4500 and 0% interest and pay £300/month I could clear this in 15 months rather than the 27 months, what card should I try and apply for? The chance of you being accepted for a 0% card with a trashed credit history is close to zero.

Many thanks

Replies above, hope this helps.

bengal-stripe

RickS650 wrote: »

My credit score is trashed and that is something I have to live with.

You do not seem to be willing to live with it.

While you have three defaulted CC with a balance of 8k still outstanding, nobody will give you a card with 4.5k limit and a promotional rate of 0%.

You have about as much chance getting one of those than finding a pot of gold at the bottom of a rainbow.

RickS650

Ah yes, but my wife's credit score is perfect.......