Paying off the full amount? what percentage to offer

[Tuttle]

I would like to know what the best offer a credit card company or collections agency would take to close the account?
(as pence in the pound)

[Still Waving]

How long is a piece of string?

We can't second guess what a creditor might accept. However, if you set out a diary of the debt, with history of events and correspondence, we might be able to offer some useful advice.

Begin like this _

Type of account -
Date commenced -
Approx balance -
Date last paid -
Are you on arrangement or not paying -
Account owner -

[Timewilltell]

The truth is they are going to want the most they can get and some! So whatever figure you are thinking of halve it and then offer, they will refuse and expect a double round of increase as a minimum before they’ll consider anything.
as said by our colleague, start a diary and see what your options are?

[The Tech Clerk]

Formula to Making Offers only if advised on here. do the diary so we can assess your situation.

[Tuttle]

I wanted to ask the question to find out if people have succeeded in reducing the debt to 10p>50p in the pound, I cannot find any information on this tactic, so I thought a thread might help.....my gambit is going to be 15p. I will update when I recieve counter offers.

[The Tech Clerk]

Unfortunately never heard such small amounts????? Do the diary please we need to be able to assess real figures etc

[Still Waving]

I wanted to ask the question to find out if people have succeeded in reducing the debt to 10p>50p in the pound, I cannot find any information on this tactic, so I thought a thread might help.....my gambit is going to be 15p. I will update when I recieve counter offers.

No diary then? The usual way here if people want assisance and advice is to provide the context of their situation. There seems little point, otherwise.

[Timewilltell]

What makes you feel the need to a final settlement? How old is the debt? How long ago from default? Whom are you offering the settlement too?
There are too many parameters that are unanswered to give any realistic reply.

[Roger]

I would like to know what the best offer a credit card company or collections agency would take to close the account?
(as pence in the pound)

Well wouldn't we ALL!
But since these are NOT Charity's but Private Profit driven Enterprises the answer will be WHATEVER MAXIMISES their investment in what are DEBTS.
If possible this will include a charge on Property and or Income plus. In short whatever maximises their Profit.

If you wish to play roulette, go ahead.
My otherwise experience is to approach each and every Debt as unique and this is best done by the AAD Diary format.

[The Tech Clerk]

[QUOTE=Roger;n1546231]

Well wouldn't we ALL!
But since these are NOT Charity's but Private Profit driven Enterprises the answer will be WHATEVER MAXIMISES their investment in what are DEBTS.
If possible this will include a charge on Property and or Income plus. In short whatever maximises their Profit.

If you wish to play roulette, go ahead.
My otherwise experience is to approach each and every Debt as unique and this is best done by the AAD Diary format.
[/QUOTE
I agree here, fall into the trap if you so wish, but if you are not going to co-operate with a diary etc then please do not waste our valuable time. so many people needs advice on here.

[Tuttle]

thank you all for replies, just to quote 'pra group', with dates 4months apart, first letter offers a 10% discount valid for 1month, 4months later an offer of 20% valid again for 1month.....can only hope they continue to do the leg work until it gets to a reasonable figure

[The Tech Clerk]

thank you all for replies, just to quote 'pra group', with dates 4months apart, first letter offers a 10% discount valid for 1month, 4months later an offer of 20% valid again for 1month.....can only hope they continue to do the leg work until it gets to a reasonable figure

I refer you to #2

[Still Waving]

thank you all for replies, just to quote 'pra group', with dates 4months apart, first letter offers a 10% discount valid for 1month, 4months later an offer of 20% valid again for 1month.....can only hope they continue to do the leg work until it gets to a reasonable figure

Yes, within a year they will be paying you.

[Timewilltell]

Yes, within a year they will be paying you.

a) A visit
b) A trip to court
c) A charge
d) All of the above

mutliple choice the easiest of all exams!

[Roger]

Strange to keep coming back to AAD without creating a Diary! Because without minimum details there really is nothing to say!

AAD for me was a life saver!!
I know now that each and ever one of my Debts was legally flawed! FACT
But if you wish to gamble do so by all means BUT these DCA's are hard nosed! They will sense as indeed I do your weakness here hence going from 10% to 20% points to that 150% which is their real goal!
Thet have baited their HOOK and are dangling it before you! That's what is clearly going on! They will have access to your Credit Agencies Reports! which for a DCA them can be very revealing.

You need help and it starts by taking control and the proven AAD way the DIARY please!!

Type of account -
Date commenced -
Approx balance -
Date last paid -
Are you on arrangement or not paying -
Account owner -