Full and Final Settlement Offer

JOHNSTONE1

My husband has recieved this letter from Tenon Recovery regarding a Royal Bank of Scotland debt for £27,325.58. Can you tell me if this dsounds alright and if you think its ok to pay?!

Dear Mr Johnstone,

I have discusse your situation at length with the bank and the bank have considered your circumstances and as an exceptional matter, they will accept £12,000 in full and final settlement on the condition that the payment is made within 21 days from the date of this letter after which this offer will lapse and you will remain liable for the full amount due.

The settlement option will allow you to conclude this matter now and the residual debt will not be pursued further- no one in the future will seek further repayment from you in respect of the above accounts.

A payment slip is attached to enable you to make this payment and i would ask that you call me when the payment is made.

Yours sincerely

Graeme Harley
Manager




What do you reckon it sounds ok to me but would just like some advice to be sure. x

FieryBlondeScot

i hope i get offers like that! i am just about to send out full and final settlement letters to my creditors to try and write off some debt :beer:

from what i have read so far as long as they put the debt as settled on your credit file its fine i think but do check around on the boards to make sure

GeorgeUK

Paying 44% is not bad, but can you come up with that kind of money within 3 weeks?

Have you checked to see if the debt is enforcable by requesting a copy of the CCA? Just wondering as it is still a large amount they are asking for. Also, the debt isn't statute barred or almost statute barred is it?

The letter does look ok, and states that it will be full and final - if you intend to pay, i would also request that your credit file be updated to show the debt as being satisfied. If you can't get that much money together or need more time, write and state this - they may be willing to give more time or negotiate a little.

Deep_In_Debt

I would also state that neither RBS or any associate or third party will chase you for the remainder of the debt at a later date. I had my fingers burnt on this one some years back as I made a F&F but the creditor sold on the remainder to a third party who gave me hell and refused to accept a reduced amount.

good luck.