Settlement letter arrived can you checkit please.

Broken_hearted

it reads
Please be advised that we are willing to accept your offer of XXXX in full and final settlment of the above account
Ensure pament reaches us by XXX

So dso I pay as it doesn't mention what will be marked on credit file but it does say F&F. Its 18% of the debt which still feels too good to be true.

fermi

Having it in writing that it is a "full and final settlement" should prevent them going back on it to pursue the rest, or from selling the remainder on to be chased by someone else.

It would be nice to see how they intend to mark your credit reference files, but I think the F&FS is probably ample evidence to complain to the Information Commissioner if they fail to record on your files in some way that the debt is settled.

BUT, that is just my feeling on the matter.

I think you would be well advised to run the contents of the letter past National Debtline (or similar) for your own peace of mind (and ours ).

COOKIEWILLOW

Hi BH,
Still waiting for my letter after BLS agreeing last week by phone. Bit aprehensive like yourself!!! Dont want to be too gullible and trusting especially with Lloyds!

Broken_hearted

Will phone debtline and creditor on Monday. Think it will be marked partial settlement although they said it would be marked sttled on the phone. Credit rating doesn't matter as long as its gone.

fermi

The ICO states that "partial" is acceptable.

I double checked that with National Debtline as while back as well, because they fail to mention that in their factsheet online. They emailed me back to confirm that they agreed (as they should really) with the ICO.

I'm sure it will be fine, but I will be happier knowing that you have checked with somewhere like NDL.

COOKIEWILLOW

Hi, At last received our letter...
Dear Mr & Mrs Cookie,
After careful consideration, our client Lloydstsb is prepared to accept the partial offer £6000 (balance was nearly double, so chuffed) in full and final settlement, (thats the bit isnt it?), provided that the payment is received at this office by 10th Sept.
On receipt of the payment we will take no further action to recover the remaining balance and will advise the Credit Reference Agencies accordingly (now the Elvis in me is VERY suspicious, does this mean that THEY wont but if they sell it on OTHER dca will or am I looking for something not there?)
If we do not receive payment by the above date, recovery action will continue for the full outstanding balance.
Yours BLS Collections etc

All in all I think this is all I need isnt it? The full and final bit, plus CRA`s being advised, I know it will say partial but I cant really expect them to put full when i didnt pay in full.
Sorry to hi jack thread again BH but seeing as its on samelines hoping Fermi will give his valued opinion. x

COOKIEWILLOW

Anyone then? many thanks