credit card debts

retiredebtor

I have been paying £100 per month to service approximately £12,000 credit card debt.
In addition I had a Mortgage and a secured loan.
I have recently sold my house and am now in a position to repay the credit cards. (The priority debts have already been repaid.)

Can anyone suggest any way I could persuade the creditors to accept less than the full amount owing? I am retired and living on a state pension now so this capital is all I have or am likely to have.

Thanks:question: :female:

HBFS

I fear it'll be extremely hard as they will look at your assets/creditors and see that you've just sold your house.

You can, but try tho'

immoral_angeluk

Are you in arrears? Defaulted? If not they won't accept any lower payments. Why would they? They've been happily taking your full payments for x amount of years and for all they know you're going to carry on.

woohoo_postingid

It may sound strange but why not pay off the full amount you owe. Just think of the satisfaction you will get from being completely debt free. Of course, you could continue paying monthly but you will end up paying loads more in interest.

Pay what you owe, clear the debt, cut up the cards and enjoy your retirement.