Discussion
I've just come into some money that would allow me to write off almost all of my debts. While speaking to a friend, they mentioned when a similar scenario happened to another friend they got in contact with their credit card provider and as they were able to pay such a large sum off in one go that they could discount the debt.
Has anyone ever heard of this before or is it possible?
Has anyone ever heard of this before or is it possible?
kiethton said:
Only if in default - think logically, if you have the means to pay for it and they know that if you didn't they could sue you and get the money and their costs anyway would you offer a discount
Absolutely not. I was just curious to see if anyone had heard of that before, seemed like a far fetched idea to me too. Thanks for the quick answers.
I guess it's like owing £12K and, although you have £100K in the bank, you say 'Look, I'm almost bankrupt, I have only £10K left. Will you accept £10K instead of £12K in full and final yada?' And they can either agree, and you save £2K, or they disgree and have to start proceedings against a possible bankrupt who of course has no money which means they'll get £0. £10K in the bank now or a long and possibly fruitless fight for £0K...?
I (in)famously accumulated £80k worth of CC debt over a 4 year holiday in my twenties. Many said to me that I should get it written off as I came back black, hairy and broke.
Bonkers, I spent it and I bloody paid it back - nice feeling when the statements come back with zero balances and then keeping it that way.
Pay up, being solvent is a good feeling, I'd imagine being a fraudster isn't.
Bonkers, I spent it and I bloody paid it back - nice feeling when the statements come back with zero balances and then keeping it that way.
Pay up, being solvent is a good feeling, I'd imagine being a fraudster isn't.
User33678888 said:
Ask them. There is nothing wrong with asking. I'm no expert but it's happened before. And of course there is nothing wrong with getting a discount! You aren't stealing from their other customers yada yada yada. You're asking for a settlement figure.
f
k off. That's exactly what the OP is doing.Where else is the money coming from? Goods bought, credit card company paid vendors, creditor pays 90% of debt. Who pays the other 10%?
VerySideways said:
fk off. That's exactly what the OP is doing.
Where else is the money coming from? Goods bought, credit card company paid vendors, creditor pays 90% of debt. Who pays the other 10%?
I'm amazed there are people out there living in such naivety. k off. That's exactly what the OP is doing.Where else is the money coming from? Goods bought, credit card company paid vendors, creditor pays 90% of debt. Who pays the other 10%?
A credit card is a consumer product just like any other. The other 10% comes from their profits. Yes that's right, they are not a charity or a credit union, they are a profitable company. Are you saying that we shouldn't negotiate a discount on our car insurance because it will come from other consumers? or ask for a discount on a car? or a house? or a better interest rate??
If you want to pay full price for everything, by all means be my guest, but don't attack people who want a better deal. Get real FFS.
Who will be getting you vote by the way?
DonnyMac said:
I (in)famously accumulated £80k worth of CC debt over a 4 year holiday in my twenties. Many said to me that I should get it written off as I came back black, hairy and broke.
Bonkers, I spent it and I bloody paid it back - nice feeling when the statements come back with zero balances and then keeping it that way.
Pay up, being solvent is a good feeling, I'd imagine being a fraudster isn't.
That's some holiday. Bonkers, I spent it and I bloody paid it back - nice feeling when the statements come back with zero balances and then keeping it that way.
Pay up, being solvent is a good feeling, I'd imagine being a fraudster isn't.
cashmax said:
Are you saying that we shouldn't negotiate a discount on our car insurance because it will come from other consumers? or ask for a discount on a car? or a house? or a better interest rate??
All of those things are agreed before you spend the money.Can you honestly not see the difference?
VerySideways said:
All of those things are agreed before you spend the money.
Can you honestly not see the difference?
Theres not really a difference though is there? If you settle your car finance, you get that discounted so you don't pay back all the interest? And it wouldn't get made up by other consumers, the credit card companys would have made a fortune out of me over the years in interest. Can you honestly not see the difference?
JmeSwaz said:
VerySideways said:
All of those things are agreed before you spend the money.
Can you honestly not see the difference?
Theres not really a difference though is there? If you settle your car finance, you get that discounted so you don't pay back all the interest? And it wouldn't get made up by other consumers, the credit card companys would have made a fortune out of me over the years in interest. Can you honestly not see the difference?
If you pay back your debt now, you don't have to pay the interest you are going to accrue in future.
This guy's taking about paying back less than what he already owes, quite apart from any future interest.
VerySideways said:
User33678888 said:
Ask them. There is nothing wrong with asking. I'm no expert but it's happened before. And of course there is nothing wrong with getting a discount! You aren't stealing from their other customers yada yada yada. You're asking for a settlement figure.
fk off. That's exactly what the OP is doing.Where else is the money coming from? Goods bought, credit card company paid vendors, creditor pays 90% of debt. Who pays the other 10%?
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