Lowell discount offer letter

[mrneedshelp]

So I received a discount letter from Lowell for a default I'm currently paying £10 a month for. It's an old credit card debt £2000 outstanding and the letter is offering a 90 percent discount payable over 3 months.

Should I take this offer never had anything like this before.

Thanks

[echat11]

You could consider making a counter offer.

[mrneedshelp]

Ok thanks never even thought of that. It asks for me to call them on the letter, should I do that or write them?

I only have about a week for the offer to be valid.

[PallasAthena]

A 90% discount? So they will accept £200, payable within 90 days, to write off a £2,000 debt? If you've got the cash it sounds like a good deal. If.....

Even so, if you can negotiate it down even lower as echat11 suggests even better.

[echat11]

A 90% discount? So they will accept £200, payable within 90 days, to write off a £2,000 debt? If you've got the cash it sounds like a good deal. If.....

Even so, if you can negotiate it down even lower as echat11 suggests even better.

But make sure it's a Full and Final Settlement, no loose ends.

[DE DOGS]

Seams quite a decent deal. I gave a family member one of my cards to help, the debt was run up to +£5000, never paid any payments,I received an offer, negotiated with the debt purchaser settled the debt for £600. Lesson learnt.