Can I pay back less?

sttrow

I know more and more people are entering into IVAs or declaring themselves bankrupt nowadays but to be honest I do not want to go down either of these routes

I am in a financial pickle and owe lots of money on Credit Cards to:

Barclaycard
Egg
Lloyds TSB
Halifax
Nationwide

I want to get a personal loan to pay them off, but because personal loans are over a maximum of 7 years, the monthly repayments would still be unaffordable for me.

Is it possible to strike a deal with a credit card company?
Has anyone done this?
Do you ask to speak to a specific department?

I owe Barclaycard £9000 - I have £7000 cash now - do you think that is an acceptable offer?

If anyone has tried and failed or tried and succeeded in doing this - please let me know

CLAPTON

if you're struggling with large debts I would suggest you go over to the debtfreewanabe board and post the full details of your situtaion..income, spending details, debts details (amounts, APRs, minimum monthly repayments ) etc.

exel1966

sttrow wrote: »

I owe Barclaycard £9000 - I have £7000 cash now - do you think that is an acceptable offer?

No, You spent it, therefore you should pay it. Agree affordable terms with Barclaycard to repay the FULL amount and ensure it's done without prejudice because if it's not you may ruin the next 6 years of your financial life.

knowledgeman

The banks may accept less if you are willing to show that you are repaying all debts you can,and you accept there will be defaults involved

However I get the impression you just want to pay what you want and forget about it without the consequences!