What's a good offer?

[Myriad2112]

A couple of years ago after I lost my job, I entered an arrangement with my credit card company and a loan company, they both sgreed to freeze the interest and accept a fixed monthly repayment. Does anybody know if they are likely to accept an offer on the remaining debt or will they require the whole amount?

[ummmm]

Are you still paying the monthly amounts?

[Myriad2112]

Yes 70 pounds a month, but I've since come into a bit of money and wondered if what a resonable offer might be on a 5k debt?

[albaqwerty]

phone them and ask for a final settlement figure, you might be pleasantly surprised :)

[ummmm]

If they know you have the funds to settle in full they might ask for the lot. I thought they just made offers to people who didn't pay in the hope they would get something back.

[Myriad2112]

not sure about that Urmmm, I dont keep the money in my own account for obvious reasons

[ummmm]

Why don't you jsut pay off the debt? I presume you you spent the money.

[Myriad2112]

well if i can get away with a settlement i might save a few grand, just wasn\'t sure if that\'s something i could do!

[ummmm]

Write to them with your offer. Worth a try.

[albaqwerty]

as I've said already, phone them and ask for a final settlement figure. You don't have to tell them you have the funds to pay that or the remaining debt in full.

[Myriad2112]

Thankyou albaqwerty

[albaqwerty]

you're welcome myriad. was in a similar position a few years back regarding having a bit of extra cash, didn't tell them that but everyone seemed pleased all round. btw didn't have much cash at the end of it to splurge but we had a nice meal out :)
all the best alba x