has anyone here negotiated a final settlement figure off credit card companies and settled it and what percentage did they settle for.the reason being i want to get rid of the debt once and for all but am reluctant to be tied to IVA,do not want BR and DMP will still have them writing and phoning.
I'm no expert and doubtless one will come along to give more accurate advise, but I believe you would have to negotiate individually with each credit card company. They may agree to freeze interest and/or agree to reduced payments but I don't know about agreeing to a total settlement (unless close to the whole amount). Also cannot see how this route would be better than a DMP or an IVA
Hi
Why not consider a full and final IVA ?
It is very difficult to get to a decision maker when dealing with each creditor when you try yourself.The plus side of making the offer in a full and final IVA is that the creditors have to make a decision on a particular date.
Speak with an Insolvency Practitioner and discuss your options
Regards
No harm in trying, but as Andy says you will find it difficult to find someone who will make a decision. It once took me over a year to get an informal settlement for a client who had only two creditors - both major high street banks.
