F&F letter

susieanne

I offered Lloyds a F&F settlement figure i got a letter back from them could you please tell me whether this letter is ok for me to accept (i mean the wording ) to clear me of this debt i dont want the debt to come back years down the line .The letter reads -

Your account number xxxxxxxxxxxxx

Further to your recent conversation i am writing to confirm that the minimum offer as a full and final settlement is £xxxx

Once the payment for £xxxx has been received and cleared ,the account will be closed , and your credit file updated to show the account partially settled .

Deep_In_Debt

Hi

Firstly don't accept "partial" settlement.

Write to them again asking that they accept the offer as F&F and that your credit file is marked as "satisfied" and that neither they, nor any associate or third party will chase you for the remainder and that you are released from any further liability. If they refuse this, say you will offer the money to an other creditor who will accept this. They may then bite your hand off and agree the offer! Expect a bit of to'ing and fro'ing tho but bear with it. Worth it in the end.

susieanne

Thanks for your reply would you mind telling me if you have done F&F with Lloyds or was it another company also did they change the partial settlement bit to satisfied on your credit file ?

I was under the understanding that it was ok to accept partial settlement on your credit file as the debt was not settled in full just as long as in the letter it said they accept the sum as full & final .

averageguy11

Can't b maked as full if its only partially settled surely...i would have thought full and final..account not zero and not to be chased by any other party would be sufficient.

imho

Best of luck...what % by the way?