Full & Final Settlements Advice please.

van22663

Hi all,

I owe alot of money on several credit cards and a bank loan. I have been offered help by a relative in clearing some of them but has anyone got any experience on who will accept what in full and final settlements.
I have a loan with northern rock and credit cards with goldfish, bank of scotland, lloyds tsb, egg and barclaycard. I have had an arrangement with all of them for about 12 months and goldfish have sold onto a debt agency, cabot. Any advice would be appreciated. many thanks

fermi

There is some good info on F&F settlements here.

Link: Factsheet | Full & Final Settlement offers

Creditors where the account has been defaulted for a while or has been passed to a DCA will be most amenable. Although most of those will normally reject all offers out of hand at first. It pays to be persistent.

With a bit of luck some people who have been through these negotiations will be along soon.