NoTimeToDie
New Member
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- 8
Looking for advice on how to negotiate a final settlement with Cabot Finance. Background is they took over a Avent Card (MBNA) debt of €25,000 back in 2014 and I have been paying back €200 per month ever since. Currently the debt is down at €8400 and I could theoretically pay this off today and clear my deck but I can't bring myself to pay the full amount as I know I was screwed over by MBNA with PPI and all kinds of hidden fees, in fact MBNA were willing to settle for €10,000 back in 2012 but I just didn't have it at that point in time.
I've been reading that most debts are settled for anywhere between 50-80% so I'm in the ball park already but I cannot see them just walking away when I've demonstrated that I'm a regular cash cow and have never missed a payment in 7 years. In fact I don't even see why they would enter into a negotiation when they can just milk the next three years out of me trouble free.
Obviously I should just pick up the phone and ask them but I want to be armed with as much detail as possible so any advice / previous experience is welcome. Financially everything else is good, I seem to have a good credit history bar this as I can access loans etc quite easily if I need, but this thing hangs round my neck and I hate the associated stigma of being associated with debt collectors so I do want to settle this and put it behind me one way or another in the very near future.
Thanks in advance for any help / advice
I've been reading that most debts are settled for anywhere between 50-80% so I'm in the ball park already but I cannot see them just walking away when I've demonstrated that I'm a regular cash cow and have never missed a payment in 7 years. In fact I don't even see why they would enter into a negotiation when they can just milk the next three years out of me trouble free.
Obviously I should just pick up the phone and ask them but I want to be armed with as much detail as possible so any advice / previous experience is welcome. Financially everything else is good, I seem to have a good credit history bar this as I can access loans etc quite easily if I need, but this thing hangs round my neck and I hate the associated stigma of being associated with debt collectors so I do want to settle this and put it behind me one way or another in the very near future.
Thanks in advance for any help / advice