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Loan settlement offers..


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Hi Guys

 

I've heard through a few people that it is sometimes possible to approach companies with a settlement offer (which is less than the remainder of the debt/loan etc but is considered an acceptable amount), but that they generally will accept it as full and final payment. Does anyone have any experience of this, and is there a template letter that I could get hold of at all please? I'm hoping to approach a couple of loan companies to do just that but wanted to do it properly. I have also been told of a lady who sent a cheque in to a bank with an accompanying letter saying she wished it to be seen as a full/final settlement but they cashed the cheque, denied it was a full and final settlement and demanded the balance! no justice I tell you! any help would be greatly appreciated!

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