Will a company write off a credit card debt if you make them a settlement offer? - credit card write off
If you pay by credit card £ 4000 or write to them and offer them a sum of 1568, inviting them to this as full and final payment of the outstanding accept and repay the remainder, it is generally accepted? Who knows something about it and how does it work? Anyone out there working for a bank that the actions of this kind of thing would be? Your help will be greatly appreciated. Thanks
Credit Card Write Off Will A Company Write Off A Credit Card Debt If You Make Them A Settlement Offer?
9 comments:
I work) for a debt collection agency debt (for my sins. Many banks) will accept an offer of 75% (£ 3000 in your case, without too many problems, especially if you transfer the debt for a company like mine. Accept the lowest bid that I ever saw was 25%, but this guy was a professional debtor, we have no contact with him, owed more than € 200,000 and was basically a case of take it or leave because he appeared to be to disappear into the situation.
Expect to see that the bank will threaten. If they say, was transferred to a debt collection company debt, which, ironically, have more of a solution, because it's like with virtually abandoned. In this case you write to me if my company and see what I can do.
Usually content of 40-60% of the amount of the debt but can be much lower if the debt is greater. In some cases, may even be able to convince the collector to remove any negative credit. The original report of the creditors still debt cancellation, however.
A special note: the laws of the United Kingdom are probably different, but in the States, you may need to pay taxes on "forgiveness of debt" as a form of income. The IRS requires debt collectors not canceled debt in a settlement agreement of $ 600 or more to report.
If you're late on their payments, have a solution to do something with you.
You all the time. You may have assumed they have more than 50%. The problem is that even if we accept, your credit card as "opted for less than the total shown. It will have a negative effect on your file.
Experiences of the past regarded as paid, but it goes against your credit score and a reminder that every law has been sent to get mentioned in his list of endorsements
The counseling center offers help to the citizens, must demonstrate that you are not able to pay the claim.
Normally this is explained in the booth to pay, write the situation for the creditor's rights and frozen at x pounds per week. The debt is not reduced with this method, only frozen.
IVAS allow partial debt relief, however. Actions such as these clearly affect the ability to obtain credit in the future.
You may have to compromise in the solution, but not all the time
My personal experience with it was at 800 Australian dollars from 2000.au. $ Debt and gave me 6 months to pay a few hundred is month.all depends on dealing with the same or well.do U are sure that, if not sometimes pay the U in the contract. or here in Australia you can go to court and to show their value and difficulty of obtaining, for a low monthly payment. another lender or consolidate all your debts into a new value of the statement.
Please, no shoes - Would you accept £ 1568 £ 4000 in debt? There must be a very good reason why.
For example, you or assets that are worth nothing if it was made bankrupt? 1568 is now more than they will say in a few years or bankrtuptcy. Probably negative, because it make money on interest for years on outstanding debts.
I suggest that the monthly payments every month to improve your credit rating. You can get another card with a better offer and still pay the debt, without paying too much interest.
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