partial settlement v full and final

[rennuz]

The Mould, Sorry I have seemed to have wound you up, no this is not a Wind up and no I have not studied the specific contract law you are referring to. I take on board everything you have said I am only trying to tell people my circumstances and I am sorry if you feel that I should not be offering this advice. I thought the point of this forum was to offer advice based on circumstances and experience and that is all I am doing.

 

I think the line between partial and full and final is blurred, which is something that is becoming clear in this thread.

 

Anyway to conclude I have offered and paid smaller amounts to creditors and they have written to me saying that my debt with them is now cleared and they will not persue me for the debt or pass the debt on, could they come after me for more money? Well I suppose yes they could but I personally would be happy to fight them in court with that letter. I must stress though this may not be good for everybody and yes people in a vulnerable position may not like the idea of this solution but a solution it is and for me it was a good one. Thats my experience.

Edited November 8, 2011 by rennuz

[bobdauilda]

Just been reading this thread with interest as I can see that there is definitely a lot of confusion re F&F and partial. I have to agree with Rennuz re the 'blurring of lines' between them as I have also has a similar experience to his/hers where the payments were sent in F&F and the company has registered the account as 'settled' on the credit scoring registers yet also recorded 'partial settlement'. All this despite the cheque coming via a third unrelated party and the instructions both on the cheque and the letter stipulating that it must be in F&F if it is cashed.

.

The mould- How long does a company have to sell on the debt if it is going to do this? Is there a statute of limitations that applies to them pursuing you despite accepting the payment and registering it as partial settlement yet informing you that they won't pursue it further?

[The Mould]

Just been reading this thread with interest as I can see that there is definitely a lot of confusion re F&F and partial. I have to agree with Rennuz re the 'blurring of lines' between them as I have also has a similar experience to his/hers where the payments were sent in F&F and the company has registered the account as 'settled' on the credit scoring registers yet also recorded 'partial settlement'. All this despite the cheque coming via a third unrelated party and the instructions both on the cheque and the letter stipulating that it must be in F&F if it is cashed.

.

The mould- How long does a company have to sell on the debt if it is going to do this? Is there a statute of limitations that applies to them pursuing you despite accepting the payment and registering it as partial settlement yet informing you that they won't pursue it further?

 

If the CRF shows the account status as 'settled' or 'satisfied' then there is no longer any debt owed and even more so where the creditor has confirmed the same in writing, such correspondence need only be copied to a dca who claims to have purchased a debt owed by you.

 

Kind regards

 

The Mould

[The Mould]

The Mould, Sorry I have seemed to have wound you up, no this is not a Wind up and no I have not studied the specific contract law you are referring to. I take on board everything you have said I am only trying to tell people my circumstances and I am sorry if you feel that I should not be offering this advice. I thought the point of this forum was to offer advice based on circumstances and experience and that is all I am doing.

 

I think the line between partial and full and final is blurred, which is something that is becoming clear in this thread.

 

Anyway to conclude I have offered and paid smaller amounts to creditors and they have written to me saying that my debt with them is now cleared and they will not persue me for the debt or pass the debt on, could they come after me for more money? Well I suppose yes they could but I personally would be happy to fight them in court with that letter. I must stress though this may not be good for everybody and yes people in a vulnerable position may not like the idea of this solution but a solution it is and for me it was a good one. Thats my experience.

 

No need to apologise rennuz. Your posting was somewhat confusing in the first instance, it appears that you have now clarified your settlement agreements.

 

Kind regards

 

The Mould