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Trouble with Barclays
Dannyj_2
Posts: 3 Newbie
Hi all,
Looking for some advice.
I've got 1 left to pay off, a loan with Barclays.
I've tried calling them to offer a partial repayment as settlement, 30%, this was rejected, no counter offer was made and I was just told I couldn't make another offer within 3 months and I just make them an offer that's "too good to refuse".
It's not been passed to a 3rd party. Anyone have any ideas at roughly what sort of percentage they're likely to accept?
Thanks
Looking for some advice.
I've got 1 left to pay off, a loan with Barclays.
I've tried calling them to offer a partial repayment as settlement, 30%, this was rejected, no counter offer was made and I was just told I couldn't make another offer within 3 months and I just make them an offer that's "too good to refuse".
It's not been passed to a 3rd party. Anyone have any ideas at roughly what sort of percentage they're likely to accept?
Thanks
0
Comments
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Are you behind with payments? If not I cant see why they would accept less than the full amount.Aiming to make £7,500 online in 20220
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Hi, been paying £8 a month for about 14 years. £5100 ish left outstanding0
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Ask them for a settlement figure then you have somewhere to start.Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
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I know what the full settlement figure is, £5176. Just when i make an offer, it gets declined and I've been told to "make them an offer that they can't refuse" but they won't even give any indication of what ballpark that offer is in0
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Original creditors very rarely give you a decent settlement figure, unless you have a very good reason why they should accept it, this could include reasons such as illness, redundancy or some other life changing reason.
If non of the above applies, I would suspect a figure of approx. £4700 would be acceptable, as the usual average discount is around 10%.
If the debt was sold on, and given enough time and a fair wind, you might be able to settle for half that amount.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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