F and F Settlement ..advise please

md40

Hi

At the moment i am on a dmp with cccs was informed recently that i am going to be coming into a lot of money and i can easily pay my debt off .
Do i offer a f and f or pay the lot in full . I have contacted cccs they say offer f and f and do not mention any amounts coming my way just worried that the banks may find out i could have payed the lot and come after me again
Thanks md

GeorgeUK

If they make an agreement that it is a full and final settlement, they can't change their minds later. Even if you won the lottery.

Just make sure that the money is paid into an account that you don't owe anything to. Also wait until you get written confirmation before sending any payments. There are template letters available on the board that you can send.

md40

GeorgeUK wrote: »

If they make an agreement that it is a full and final settlement, they can't change their minds later. Even if you won the lottery.

Just make sure that the money is paid into an account that you don't owe anything to. Also wait until you get written confirmation before sending any payments. There are template letters available on the board that you can send.

Thanks very much George

Tixy

It would probably be even better to put the money in an account with a bank you don't owe any money to at all.

If you put it in, say, your normal current account and you owe the same bank a loan or credit card I would assume they will look at your current account balance before agreeing to a reduced F&F.