Can you haggle settlement offers?

jonjon123 · 11 March 2018 at 4:52PM

Hi all, I was thinking of borrowing some money (from a very good friend who has made me an offer) to try and settle of all my debts, paying them off early and therefore save a fortune by avoiding interest over the terms.

I have got some settlement offer figures from my loan and car finance companies, but is this a case of ''that's the amount you must pay'' no arguments or can these figures be haggled and brought down?

I've always wandered if you must pay this figure, or whether you can try and do a deal with them by making them a reduced offer?

Does anybody know how finance companies view this and if it is at all possible, or do they not like it at all?

Many thanks, will look forward to your views/replies

StokieBecks · 11 March 2018 at 7:04PM

If you are currently up to date with all payments it is unlikely they will accept lower offers. The settlement offers with loan and finance company will be the full amount they expect yes . It's a bit different if you are behind on payments and they have defaulted the accounts

sourcrates · 11 March 2018 at 7:19PM

As above, you are contractually obliged to repay the full outstanding balance on all credit agreements.

Some companies may wipe some interest off, like in the case of early settlement of a loan, in which case there is a specific formula they use to calculate your payment.

The best discounts are reserved for old, defaulted debt, that has been sold on various times, I am guessing your not in that position.

jonjon123 · 11 March 2018 at 8:18PM

sourcrates wrote: »

As above, you are contractually obliged to repay the full outstanding balance on all credit agreements.

Some companies may wipe some interest off, like in the case of early settlement of a loan, in which case there is a specific formula they use to calculate your payment.

The best discounts are reserved for old, defaulted debt, that has been sold on various times, I am guessing your not in that position.

No, not in that position.

Everything is up to date currently, but debts are sucking up everything every month and i do mean everything.

Going to work basically to pay debts and interest and thats it, no life at all after deductions.

John-K_3 · 11 March 2018 at 8:21PM

Aside from the above issues, what will happen when you do to your friend what you are planning on doing to those who lent you money previously?

I know that you think that you won!!!8217;t stiff your friend, but that!!!8217;s exactly what you thought when you borrowed previously, and yet here you are, about to try to pay less than what you owe.

Does your friendship mean so little?

Edited to add, you say that everything is up to date, but you were asking about your defaults a while back. Which version is the right one?

Edited again, reading further, you are full of it. You were trying to walk away from all your debts only recently, and said that you had been making only token payments for years.

I feel very sorry for your friend, for what you are about to do to him. You know that you do not honour your fpdebts, and now want to do him over too.

jonjon123 · 11 March 2018 at 8:26PM

John-K wrote: »

Aside from the above issues, what will happen when you do to your friend what you are planning on doing to those who lent you money previously?

I know that you think that you won!!!8217;t stiff your friend, but that!!!8217;s exactly what you thought when you borrowed previously, and yet here you are, about to try to pay less than what you owe.

Does your friendship mean so little?

Always one isn't there, but thats the way of the world i suppose.

Who are you to question my friendship?

Yes i am in debt, however i am up to date with them all and paying them all off currently, i just wandered if there are other options.

If youre not going to help and just put stupid comments up, why dont u go and troll somewhere else. :T

In answer to your other question, I wanted to know why I was being turned down for credit if you must know and I was told on the phone that I have 2 arrangement to pays which is what I thought was causing the rejections, but it isn't that because they are not on my credit files

jonjon123 · 11 March 2018 at 10:02PM

John-K wrote: »

Aside from the above issues, what will happen when you do to your friend what you are planning on doing to those who lent you money previously?

I know that you think that you won!!!8217;t stiff your friend, but that!!!8217;s exactly what you thought when you borrowed previously, and yet here you are, about to try to pay less than what you owe.

Does your friendship mean so little?

Edited to add, you say that everything is up to date, but you were asking about your defaults a while back. Which version is the right one?

Edited again, reading further, you are full of it. You were trying to walk away from all your debts only recently, and said that you had been making only token payments for years.

I feel very sorry for your friend, for what you are about to do to him. You know that you do not honour your fpdebts, and now want to do him over too.

Do me a favour and go get your facts straight first.

If you are just here to have a dig and try and find facts about people that are looking for help, then why dont you go stick your head in a corner, instead of just being unhelpful, useless and a waste of space.

sourcrates · 11 March 2018 at 10:06PM

Keep it nice people please.

If you dont the thread will be closed and referred to the forum team.

Thanks

jonjon123 · 11 March 2018 at 10:09PM

sourcrates wrote: »

Keep it nice people please.

If you dont the thread will be closed and referred to the forum team.

Thanks

Already reported to admin sourcrates.

Don't need these sorts of people on my OP.

Not worth giving them the time of day.

Can you haggle settlement offers?

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