Settlement figures

[alb0679]

Hi all.
I'm currently paying off a number of debts to '3rd party debt recovery agencies'. On speaking to one of them recently I was told that they would accept a settlement fee, which was below the value of the debt, provided I could pay that fee in full, there and then.
Are there any rules on these fees, is there a set percentage or do thay all have their own rules ?
Thanks
alb

[Skyline D]

No rules.

Anyone you owe money to can offer you a discount at their own discretion to clear the debt outright.

[Mrs_Pegasus]

I know people who have done this, as low as 50% in some cases.

The only advice is if you get to a point where they accept your offer then make sure you get everything in writing and then take as many copies of the docs as you can and never ever lose a copy!!!! I have seen posts on here and elsewhere where an agreement was made and the debt partially paid off and then years later they have been chased for the remaining balance and have no paperwork to prove they have paid.