Any advice on clearing outstanding debt?

[Whisper]

I let an outstanding debt slip because life and other things got in the way... (we had to move house 3 times in 4 years, only once by choice! :( ) This debt is now owned by a collection agency. I've made an SAR in writing and am awaiting the details (though I pretty much already know what it will say).

Having done a bit of research online and looked at lots of advice sites, my question is this...

Does anyone have experience of making a lump sum offer to settle? I've read that collections agencies buy your debt for pennies on the pound, and you should start with a lump offer around 30% of what they say you owe. So, has anyone been successful with this? If you made an offer, and they counter-offered, what did you finally agree on?

Any advice welcome! :)

[Danielpain]

When I had a situation similar to yours. I overdue loan repayments. Debt consolidation helped me. I took a loan you can open this and see. As I learned, multiple debts are combined into one large part of the debt, usually with more favorable repayment conditions. These payment terms included a lower interest rate. You can combine your debts by combining all credit card payments into one new credit card. Try it, maybe it will help you too.😉

[Danielpain]

When I had a situation similar to yours. I overdue loan repayments. Debt consolidation helped me. I took a loan you can open this and see. As I learned, multiple debts are combined into one large part of the debt, usually with more favorable repayment conditions. These payment terms included a lower interest rate. You can combine your debts by combining all credit card payments into one new credit card. Try it, maybe it will help you too.