Paying off credit cards

Kirsty_Ward_2

Can anyone help - I have some spare cash to pay off my credit cards in single payments. However, I don't want to pay off the full amount because I want to save to cash from my debts. If I call up and negotiate to pay off say 75% there and then will they write off the remaining 25%. Does anyone know if this is worth a try?

sicker

Sorry Kirsty, if you've got the cash clear your debts which you accumulated and don't expect others to contribute. You can start saving with a clean state.

Good luck

John

marksandsparksgal

If you're in a position to pay them off, then of course morally you should. What you're referring to is a Full & Final Settlement, and differs between each compamy as to what they would accept. However no one on here knows your precise circumstances, so it perhaps would be better to put a post explaining the situation on the Debt Free Wannabe board since they're the experts in this situation, and do a search for F&Fs too.

HTH

jonesMUFCforever

If the card providers have to write anything off it will be on your credit history for the next 6 years.

If you never want to borrow from anybody again in this timescale eg mortgage, credit card, personal loan, catalogues etc etc fine otherwise you would be foolish to try.