Barclaycard possible settlement

[MILLIJACK]

Hi all

 

My partner has debts of approximately £4000.00 spread over her two Barclaycards, they have both been frozen so no more interest is accruing and she is paying a token amount of £35.00 per month off of the total amount outstanding. Does anybody know if Barclaycard will take a reduced settlement figure to wipe off the debts? If so what department do I contact to see if they will settle the outstanding debts?

 

Many thanks:)

[Guest ArthurP]

Could always try.

 

I'd suggest that you and your partner say you are skint and the future looks bleak financially but a family member is willing to bail her out but can only extend to x amount.

 

See if they accept it.

[KJD]

Start low though... VERY low!

[linz2011]

Hi

 

Good advise from all - they will definately consider a settlement on this i would start at 25% - say you have a total debt of £30,000 and your family have given you £7,500 to clear your debts (ball park figures) but go down that road - they will probably refuse and say they want XX% that is where the negotiation starts if they say 60% say "really sorry but no way can I do that as I will be showing peference to you and my other creditors have accepted this but thank you for your time etc" bet someone goes to discuss it further with there manager...........

 

Good luck

[Guest ArthurP]

I'd go much lower than 25% at first myself.

 

25% is a realistic figure but I think that's usually what an IVA is-and that takes five years or so.

 

It's been said DCA's pay about 10% so that's what I'd offer.

At least the bank knows that they will get something and right away.

 

And you can always negotiate.

[KJD]

I'd go much lower than 25% at first myself.

 

25% is a realistic figure but I think that's usually what an IVA is-and that takes five years or so.

 

It's been said DCA's pay about 10% so that's what I'd offer.

At least the bank knows that they will get something and right away.

 

And you can always negotiate.

 

I'd second that, Millijack. The bartering system at it's best

 

If you start by offering any more, you'll be forever wondering if they would have taken less!!

[MILLIJACK]

Many thanks for your suggestions; I have just thought of a possible scenario. If Barclaycard did accept a settlement figure at a much reduced amount, effectively writing off the debt would they then be able to enter a bad credit mark against my partners name?

[powelll]

As

[powelll]

As part of the full & final settlement you can ask that they mark her credit ref file as satisfied. If you go to nationaldebtline.co.uk there is a factsheet on full 7 finals that should be useful. Ensure any settlement figure is confirmed in writing before any money paid as well. You also want confirmation that no other company will ever chase for the remaining balance...