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How to ask for a reduced full and final figure ?


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Hi all,

 

Ive now stared work so want to clear some of my smaller debts (5 of them between £80 and £300)

 

If i can get away with paying a reduced amount then the money would stretch a bit further around the dca's

 

What are the Do's and Dont's of asking for a Reduced full and final setlement - any letter templates ? How legally binding are they ( ie if i pay 50% and have a letter stating that its in full and final settlement can someone else chase for the other 50% ?) and finally can i also ask that they are marked settled on my credit file ?

 

thanks in advance

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Can I also suggest that you contact them by telephone on, say, the wednesday before the end of the month, when they are desperate to meet their "sales" target.

 

My personal two golden rules are:

 

MAKE SURE IT IS IN WRITING, AND SAYS FULL AND FINAL

and

KEEP THE AGREEMENT SAFE FOR AT LEAST SIX YEARS.

i will be off site for the next month or so. if you have any problems, feel free to report the post so a moderator can help you.

 

I am not a qualified or practicing lawyer.

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