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I have several old debts where I've been receiving letters from time to time. Usually weeks between them and nothing but standard "pay now or else" templates. However, I plan to sort out my life in 2014 and to that end want to start by clearing my past financial mess. The two debts I want to mention in particular here are a Halifax overdraft (account opened 02-11-94, defaulted 13-01-10) which has been sold to Lowell Portfolio 1, and a Halifax Credit Card (account opened 16-08-07, defaulted 24/06/10) sold to 1st Credit Ltd.
I'm working freelance and not earning a lot, and to be quite honest I'd like to pay as little as possible to these companies. I know I created the mess, but at the same time I imagine these DCA's have paid next to nothing for the debts, so I don't see why I should pay the full amount either. I have received an offer of a 70% discount on the credit card recently, and today an offer of a 50% discount on the overdraft. Maybe I'm pushing my luck but is it worth going for a bigger discount? Or should I just take these?
I'm working freelance and not earning a lot, and to be quite honest I'd like to pay as little as possible to these companies. I know I created the mess, but at the same time I imagine these DCA's have paid next to nothing for the debts, so I don't see why I should pay the full amount either. I have received an offer of a 70% discount on the credit card recently, and today an offer of a 50% discount on the overdraft. Maybe I'm pushing my luck but is it worth going for a bigger discount? Or should I just take these?