WA Settlement of Credit card debt

[Bee83]

My husband and I have 5 credit cards between us, with of a total debt of $65k. We have defaulted on all credit cards. I may have access to a lump sum of money so I was wondering if I could offer a one off lump sum payment to finalise and clear the debt with each bank. If so, what is a fair and reasonable offer?

 

[Rob Legat - SBPL]

That’s a question better asked of a financial counsellor. And I would suggest you need to figure out what portions of the debt are principal, interest and fees. You’re less likely/unlikely to get a discount on principal, the rest is up in the air.

 

[kevin586]

My husband and I have 5 credit cards between us, with of a total debt of $65k. We have defaulted on all credit cards. I may have access to a lump sum of money so I was wondering if I could offer a one off lump sum payment to finalise and clear the debt with each bank. If so, what is a fair and reasonable offer?

we must talk about this. i'll help you with it. I know how to do it. How to contact????

got a PO box or address?

 

[Scruff]

Advice to OP - Never provide your personal details to other members.

Members who are lawyers will have appropriate contact details in their signatures or will refer you to LawTap.