PRA group Barclaycard debt

Lemonbelly

Do you suggest offering them maybe a third ie £1400 that a friend will give me if it l clear the debt? otherwise im paying 100 a month for another 40 months, interest frozen

fatbelly

That's the right ballpark. Try 30% and see how they react

Lemonbelly

should I phone them with the offer or is it better to write a letter?
and should i wait for them to chase me for the money before offering as i havnt started paying them yet

National_Debtline

Hi again Lemonbelly


You should demand written confirmation from them that they accept your terms before handing over any lump sum intended to settle the debt.


Have you read our guide yet (as linked to further above)? It is a useful summary of what you should do in order to negotiate a settlement safely and successfully. There is no magic figure or % that will guarantee their agreement, however. That is down to your haggling skills as much as anything.


As for the precise timing, I don't think it really makes any great difference whether you start these negotiations right now or leave the ball in their court for the time being. I'm assuming you would like to wrap things up sooner rather than later, though?


Dennis
@natdebtline

Lemonbelly

if they do not accept my offer and wont negotiate is there any danger they can say they are not happy to accept the 100 a month i was paying barclaycard, or decide they want to charge interest?

fatbelly

Lemonbelly wrote: »

should I phone them with the offer or is it better to write a letter?
and should i wait for them to chase me for the money before offering as i havnt started paying them yet

Do it in writing first. Don't offer monthly payment for now

Lemonbelly

i assume the monthly payment is already agreed as that was what i had with barclaycard and was paying it until it was sold to pra, i just havnt started paying pra yet. but as you say , should i just write to them with a proposed full and final settlement and if they decline i should tell them i will pay the monthly amount as agreed with barclaycard?

fatbelly

I would just start negotiations (in writing) about a settlement deal. See how they respond.

Lemonbelly

OK fatbelly, I will get a letter off over the weekend and see what they say

Lemonbelly

Im preparing my letter to send off. I was going to request recent statements as I did before but didnt get any, is that a good or bad idea?
before i send it off please advise if its good or bad and any amendments i need.

Dear Sir/Madam

You wrote to me on theXX December to inform me you had purchased my outstanding balance from Barclaycard, and how my payment plan that I was making to them would be continued with yourselves
I wrote to you on the XX December to request a copy of the original agreement and a breakdown of charges, to prove how the total amount is arrived at.
I have received a reconstituted unsigned copy of what I take to be an original copy, previously unseen by me. But as yet I haven!!!8217;t received any copies of recent statements showing how the total
Is arrived at or how payments I have been made have been applied.
I again request these, once received continue making the same monthly payments as were paid to Barclaycard to yourselves.
However I have been offered by a family friend who is willing to pay £1500 as full and final settlement of the account. I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.
If you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed.
I can pay the amount I have offered within 24 hours of receiving your written agreement of this offer.
Please give me details of how I can pay.



I look forward to hearing from you.
XXXXX