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full and final settlement offer advice


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Good Morning to All.

 

I have a defaulted account with Cabot.

Originally this was Aqua card for £ 1,200 pounds I got in 2007,which was defaulted in 2009.

 

In my CRA file current balance with Cabot shows as £1,582, and Default / Delinquent Balance £1,306

 

I am thinking of offering Cabot full and final settlement in end of February early March, when I will have 500-600 pounds available for this.

 

Is this something that will work you think?

Any advice on how to best do this?

 

Or any other advice on this debt at all.

 

Thanks a lot in advance for help!

Edited by Voidmar
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Hello there,

 

Full & Final settlements can be very effective at reducing your debt liabilities. It is usually the case that people manage a greater discount if they are making their offers to an agency that has purchased the debt, so you could find that Cabot finds your offer very attractive!

 

We have a fact sheet outlining the basics here:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

 

Be sure to keep ALL your correspondance in writing.

 

Good luck!

For Free, Confidential and Independent advice: 0808 808 4000

Monday - Friday 9am to 9pm // Saturday 9.30am to 1pm // 24-hour voicemail. Please leave a message to request an information pack. http://www.nationaldebtline.org // http://www.mymoneysteps.org

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