clearing credit card debts

manz

Hi,
Luckily i have some money that i can use to pay off my credit card debt.

However, I would like to ask if my credit card balance is £6,600.00. Can i tell the credit card company i only have £6,500, can you please show my credit card as being clear. ie a £100 discount.
The reasoning i plan to give is that i have a financial problem and only have £6,500.00 to clear off this debt and cannot afford any more payments from this credit card.

I know that this is probably not possible.
But its worth trying i suppose.

Your feedback or ideas will be greatly appreciated.

Regards
Manzoor

heppy23

It is, as you say, worth trying.

Don't tell them how much you have, tell them you would like to clear the account in one go and ask what their settlement figure is. You may be pleasantly suprised but be ready to haggle.

YorkshireBoy

I'm 99.9% certain they won't take a lower amount without some history of late/missed payments, or even a 'default'. I know I wouldn't if it was my business!

Just out of interest, do lenders mark anything on your credit file for such a settlement, ie 'arrangement to pay'? If they do, that could trash your credit rating for some time to come. Is it worth it for £100?