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Account No: _____________________________

I write with reference to the money which you are claiming on the above account.

I can confirm that I am unable to offer to pay the money which I owe in full, However, I can raise £1500 which is 22% of the total amount owing and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.

Rather than me just request this as a standard letter I would like to explain why I am asking you to consider this offer, I currently live with my parents and within the next 6 months they are moving abroad and I will have to move into rented accommodation and will be forced to decide between having a roof over my head or paying yourselves as my expense is going to be a lot higher. I have looked into every avenue and failure to agree a Full and Final offer I will have to consider going down the route of bankruptcy. I hope you consider this offer seriously and if you need to discuss anything then please feel free to write to me. The amount will be paid by my parents as they really do want to help with my finances but are unable to help with the full amount.

I also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as having been paid and the account closed.

Payment can be made within 14 days of receiving your written agreement of this offer and method of payment.

I look forward to receiving your reply.

Yours faithfully

 

 

Am thinking of sending this letter ? Any suggestions with it?

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i would offer no one anything without verifying their legallity to accept the paymentn and your legallity of owing it.

 

see sequenci's blog in my sig

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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cca everyone

read sequenci's blog

 

dx

  • Haha 1

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 1 month later...

Should i just pay the settlement or try my luck in getting them settled?

 

Any success stories in getting a creditor to mark file as settled even knowing only payed a full and final settlement ???????

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i would not even F&F without these terms being met:

 

removal of ALL negative data from your CRA file. [defaults/late/under etc etc]

debt marked as SETTLED

guarantee that no 3rd party can ever chase the debt on any sum ever again.

 

 

if theyt wont do that - then you might as well BURN the money

as it will be totally wasted.

9) FULL AND FINAL SETTLEMENT: A guide for the rest of us

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Make sure they agree to it in writing.

 

I've had someone offer f&f settlements to all my creditors on my behalf, letters sent to them last week so just waiting a reply, if I get a reply that is.

 

The f&f's I offered were really low so I'm having my doubts any will be accepted.

Have £20k+ in debt, seriously want to be debt free, currently in temporary accomodation and having business problems.

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