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Making a deal with your credit card company...

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  • 30-08-2011 2:13pm
    #1
    giftgrub
    Registered Users Posts: 1,309 ✭✭✭


    Just wondering if anyone knows the score here.

    I have an oustanding balance of around 800 euro and am paying off the mimumim.

    Is it possible to make a settlement with them for less than the full amount, maybe two thirds?


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    #2
    scholar007
    Closed Accounts Posts: 902 ✭✭✭scholar007


    I would imagine if you tried that, they would play hard ball and probably end up sending you a solicitors letter after you had already got 10 phonecalls from their Account Managers / Consultants or whatever it is they call themselves these days.

    Bear in mind that your credit rating will also reflect this and you may have trouble getting finance for years to come. Seems a lot of hassle for 800 yoyos - Whats the minimum payment on that anyway, about €15 a month?


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    #3
    giftgrub
    Registered Users Posts: 1,309 ✭✭✭giftgrub


    The minimum isn't much, but its just not going away.

    I have a little extra this month thanks to some overtime and just thought I could get rid of the bloody card altogether!!


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    #4
    scholar007
    Closed Accounts Posts: 902 ✭✭✭scholar007


    giftgrub wrote: »
    The minimum isn't much, but its just not going away.

    I have a little extra this month thanks to some overtime and just thought I could get rid of the bloody card altogether!!

    You and me both mate - they are an absolute curse. I thought the credit limit on my cards were targets. Now its a case of trying to live within my means until they are paid off (gonna take ages but C'est la vie).
    ;)


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