Hi,
Thank you everyone for responding, basically I am an adult, and yes I owe the money, & yes I spent it... but what you are forgetting is, that I spent the initial loan (€23500.00) on a car, GE tried to screw me over - at over 10% APR.
Until I realised and (thank god) spoke to a lovely guy in retentions 2 years ago who reduced the APR down to 6.5%. The original loan meant that I would have paid GE €6500 in interest over 5 years which is crazy.
So its the interest that I am looking to settle, not the amount I have borrowed.
I didnt even know settlement figures were done, until GE advised me (( & only for special cases, i.e. compul redundancy), I will not be in a position to finish paying this loan off, Im sorry if anyone thought that I am very rich or have a lot of money as I do not, and to be honest some people think Im cracked in the head paying all my redundancy of all our debts.
Original loan amount €23500, of this the total I have paid so far = €15627.07.
My settlement figure will be around €9400.
I will offer €9000, I feel that is fair, they still get over €1000 in paid interest and the original loan is paid in full.
I find it funny that some people think I am trying to pull a fast one, ok I got in over my head with loans, hmm who didn't - and now based on what the radio stations are saying there might be get out of jail cards for people who signed themselves way in over their heads ( with morgages .... ) I will have no money left from my redundancy, I wont apologise to anyone for getting it, if anyone read my previous posts, I have been through hell and back, and its the least that I deserved, but the bottom line is that my role was made redundant, hence so then was I.
I dont need any more advise of this, as I have decided what I am going to do.
Thanks to calvin&hobbs as I am following this advise.
Blueeyes.