reasonable offer to pay off credit card

manxy82

hello.
can anyone advise what would be considered as a reasonable offer to pay off credit cards.
Unfortunately I have 8 credit cards all on repayment plans (with 0% interest). I might be in a position soon to pay some off. What would be a reasonable offer %; ones they are likely to accept? TIA

dr_adidas01

manxy82 said:

hello.
can anyone advise what would be considered as a reasonable offer to pay off credit cards.
Unfortunately I have 8 credit cards all on repayment plans (with 0% interest). I might be in a position soon to pay some off. What would be a reasonable offer %; ones they are likely to accept? TIA

Payment in full I should imagine, if you are already on repayment plans they will expect you to honour the payment plan you have agreed with each lender. 

D3xt3r5L4b

100% would be acceptable 

jonesMUFCforever

I think you should offer at least 110% of the amount because they have suffered as a result of you not paying interest on the debt (sic).

Paully28

100%.........

onlyfoolsandparking

manxy82 said:

hello.
can anyone advise what would be considered as a reasonable offer to pay off credit cards.
Unfortunately I have 8 credit cards all on repayment plans (with 0% interest). I might be in a position soon to pay some off. What would be a reasonable offer %; ones they are likely to accept? TIA

Are you asking because your struggling to keep up with payments on your plan OR because your hoping you can get some of the debt written off with a certain percentage offer OR as you say you 'might' be in a position soon to pay some off and are wondering if you can get some sort of full and final settlement deal, more info needed.

manxy82

I was hoping to get a final settlement deal if possible by paying some of them off if/when I’m in that position. Thanks

jonesMUFCforever

What does your credit files show about you?
Are they already trashed because you are on offers to pay? If that is the case then try a sensible offer to see - because if your credit file is already trashed you won't be getting any new credit any time soon anyway.
If you want to be able to get new credit then pay 100% of what is owed.

manxy82

Yes my credit file isn’t good and I wouldn’t be wanting to get any credit anytime soon. Thanks

adamp87

Have these defaulted?

If they have you may be in a position to make an offer, but most likely this step is only really likely when they sell the debt to a buyer.

I don’t see the original creditors taking a deal while you are under the plans. 

Edit - Just to add Settlement Offers are mostly successful either when

a) it’s looking likely repayment isn’t going to happen for a very very long time (I.e paying £1 a month on a large debt)

b) the CCA agreement is unenforceable or can’t be found.

jonesMUFCforever

manxy82 said:

Yes my credit file isn’t good and I wouldn’t be wanting to get any credit anytime soon. Thanks

You say that now but when you want a new phone contract etc you may be declined.