If settlement offers is highlighted as a possible solution for you after speaking to a counsellor or using our online counselling service, CCCS Debt Remedy, we will provide you with a template for the letters to send to your creditors.

We are unable to say whether your creditors are going to accept your offer or not. Different creditors have different policies for negotiating settlements.

If the creditor agrees to mark your credit file as ‘settled in full’ it should have no negative impact on your credit file. If the creditor agrees only to accept the offer on the basis that it’s marked as a ‘partial settlement’, it will notify future lenders that the debt was settled for less than the balance. If future lenders are aware that you’ve settled debts for less than the full amount, they may be less likely to be willing to offer you credit.