Can you offer a one off payment?
in Credit cards
6 replies 437 views
in Credit cards
Out of interest, if you owed 3k on a credit card and you had 2k spare, could you just ring up the card company and say… can I give you 2k to close the account?
Latest MSE News and Guides
Martin and MSE campaign win
April's 20% energy price guarantee hike postponedMSE News
Childcare budget boost
More support for children from nine months and those on Universal CreditMSE News
Energy Price Guarantee calculator
How much you'll likely pay from AprilMSE Tools
Be prepared for a very quick “no” though.
If you submitted a full financial statement showing all your income and expenditures which clearly showed you had excessive amounts of debt that you would never be able to repay then perhaps they would say yes. But I think even that would be unlikely unless it everything was submitted by a debt counselling service such as debtline or StepChange. I don't know that they would do such a thing on your behalf, assuming it was appropriate. If things are really truly bad they might suggest you apply for a debt relief order but as far as I'm aware they do not so these on anyone's behalf.
If you do decide to use a debt service of some sort please ensure it is a legit & free one, not a company that will take a large percentage of whatever you are paying thus making it even more difficult to clear your debts.
2023 £1 a day £54.26/365
Paying 2k and then nothing more would still end up in a default but take longer and be more expensive.
Either way, you'd end up with a screwed file for 6 years.
If you are already on a payment plan then they might take it.
If not and simply just want to see it they would to save £1K. Expect a no, but if they did expect a black mark on your credit file/history.
In reality even just asking is going to set alarm bells ringing with them. So expect a call from the credit team & a possible lowering of limit.