Q: We have a credit card account with FNB which hasn't been paid for about 1 and a half years. Over the period that the account was not paid, interest was levied to the account. I'm not to sure of the exact amount of interest which was levied on the account, but I have requested the amount. I'm awaiting their response.
The account is currently handled by the banks attorneys and they have recently emailed us stating that the bank is willing to give us a settlement discount of 40% if the account is paid by the 29th of this month (November).
Will it be fine for us to accept the settlement discount and settle this account as we don't have the money to pay the entire balance on the account and ان شاء الله a few friends will be willing to help us pay the account if we can settle with the settlement discount amount.
A: If they are willing to waive off a portion of the debt to assist you, then it is permissible.
And Allah Ta'ala (الله تعالى) knows best.
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