DRO with one creditor, or offer F&F settlement?

flamingo747 Forumite Posts: 500
Ninth Anniversary 100 Posts Name Dropper Combo Breaker
I have just one debt, about £6.5k on a credit card. I am a SAHM/carer for my autistic 11 year old, my husband works part time. Our household income is low, and predominantly carers allowance, DLA, and tax creds, so we don't have much surplus income. 

My payments have been in default since March 2020, after 5 missed payments and when I spoke to them I said I was looking at a DRO with stepchange, which I just never got around to. 

I think a DRO is about £100? But would it make more sense to just offer that money to the credit card company (aqua) as a full and final settlement? We're not behind in any other bills, we have a joint bank account, and hubby's credit is reasonable because he's been working to build it.

Thank you
Married 40y.o. mum of an autistic 11y.o. Carer/SAHM - OS Fashion On The Ration 2023 (from Sept) 12/15 used on 6prs of knickers - OS 2023 Decluttering Challenge: 370 items decluttered since mid-Sept 🏅 
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  • fatbelly
    fatbelly Forumite Posts: 19,231
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    The dro fee is £90. I don't think they will accept that in F&F.

    Do you need to do anything? You're 3.5 years into this becoming statute barred, and as things stand, this disappears from your credit file in 2026.

    I would ignore everything except a statutory 30-day pre-action letter.

    Save thoughts of a dro for when you really need relief

  • sourcrates
    sourcrates Forumite, Ambassador Posts: 27,696
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I agree with the above, you could also ask them to write off the debt due to your circumstances, if they become annoying, at the moment it looks as though all is quiet on the collection front, if that changes post back for advice, but otherwise it will go statute barred in 2.5 years time, no point calling the fire brigade unless there`s a fire.
    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 [email protected]. 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-letter
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