Full And Final Payment Letter Template?

[pixie1]

Does anyone have a really good full and final payment letter template i could use please?

Also, can you only ask for full and final payment on unsecured debt? I presume so.

Also if there is anything i should know about asking for this, pro's con's ect please let me know


Many thanks

Pixie

[fermi]

There is a detailed factsheet on "Full & Final Settlements" (including a letter) here:

http://www.nationaldebtline.co.uk/en...tlement_offers

Particularly important is:

Make sure you keep copies of any letters you send.

• It is very important to make sure the creditor accepts your full and final settlement offer in writing. Make sure you keep a copy in case there is a dispute which can happen years later.
• Never send a lump sum payment before the offer is accepted.
• It is a good idea to get a third party such as a friend or relative to send the money on your behalf. This helps your agreement to be more legally binding if the creditor accepts the money via a third party.
• If you are settling a debt that is large or particularly important, you could have a formal agreement drawn up by a solicitor and signed by you and the creditor. This is not normally necessary.

and

Make sure the creditor agrees in writing to change your credit reference file details to show the balance is 'satisfied' and the date. Check this has been done by asking the credit reference agencies for a copy of your credit file.