Horwich Farrelly / Barclays Bank Early settlement?

Headley_Grange

I'm currently paying and old Barclays Bank debt off (Currently standing at £2910,00) through their appointed collectors at £110.00 per month when asking them about an early settlemnent they have offered £2,700.
I didn't think that this was such an attractive offer especially when they offered me an early settlemnt of £1800 12 months ago?

Does anyone have any reccomendations?

Many Thanks

GeorgeUK

I would suggest making a counter offer. Personally, i'd go for about £1200, but only offer what you can afford. Do not get into more debt to pay this off. I'd make the offer in writing rather than over the phone.

Was the £2,700 not the actual early settlement figure rather than a full and final offer?

stapeley

Be careful they may think if you can raise £2000 you can afford to pay more monthly!

Headley_Grange

Hi there,
Many thanks for your help here, the £2700 was a reduced rate settlement figure?

Regards

GeorgeUK

Sounds like that is their new offer then. If you can afford it, i'd make the counteroffer. DCA's, from what i have read ,would rather have a lump sum rather than taking small monthly payments. I definately wouldn't settle for what is less that 2 months payment of a reduction.

Headley_Grange

I'll try the counteroffer then,
Many thanks for your help and advice