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- Mon Oct 31, 2011 10:44 am #283733 Hi just wanting opinions really i owe around £15500 to a number of companies including barclays santander and RBS, i have been offered around 7-8 K by may parents to clear my debt but only if i totally clear it. Would the be any point trying for a final settlement?

- Mon Oct 31, 2011 1:44 pm #283753 Depends on how big your arrears are and how long you've had them

If your payments are all UTD then no chance

but on the other hand if you are on their 'special treatment' list then pretty good - especially near year end when they're all trying to balance the books!

Either way you can only ask but make sure you word your offer correctly - once they get the scent of moolah it'll be yoicks and tally ho!

"Sometimes my perception of my own brilliance is only surpassed by its reality"

- Tue Nov 01, 2011 1:39 am #283813 Yes, agree with Duff, the problem with being fair to the creditors and paying them on a regular basis is they will be quite happy to sit back and let the money roll in, they might even start to add interest and you end up paying each month and getting nowhere. If you mess them about and pay them very little the more likely they will be to accept. In my case I think most of them would jump at the chance to get 20% never mind 50%.

Do you have assets Ie. own your own property? If not you could afford to really put the squeeze on them for a year or so and they will soon come round and accept. If you do however it is a different matter and you have to be aware of a posible Charging Order on your property.

- Thu Nov 03, 2011 11:12 am #283973 thanks for your response guys