Full and final settlement confirmation

jamesdeare

Evening all,

I've raised the funds for a full and final settlement, me and the DCA agreed how much, I request this be put in writing and sent to my home address.
They have not sent it via post but have sent me an email confirming it and it all reads all ok, this is how it reads...

Dear Mr xxxxxxxxx,

Repaying your account

Following our recent conversation we're pleased to confirm that we've agreed to accept the sum of £425.00 as payment in full and final settlement of your account.

You must make your payments as follows:

Date
28/01/2010

Amount
425.00

Unless you've agreed to settle your account by credit/debit card, please send your payment(s) to the address at the top of this letter, quoting your Cabot reference number shown opposite.

Terms of this arrangement

The terms of this arrangement require that we receive all your payments on or before the due dates shown above. If, for any reason, we don't receive payments by the agreed dates we'll cancel this arrangement and you'll then have to repay the whole outstanding amount of £617.25.

Important: if you experience problems which may delay your payment, please contact us as soon as possible.

Contacting Cabot

If you have any queries, call one of our helpful customer advisors on 0800 328 0708
(Minicom: 01732 524630).

Yours sincerely

It also has the correct account number and such a the side of it.


Thanks

suewiththeblues

i have been pushing for :

full and final settlement (cos partial/short is an open door)
balance brought to nil on my credit file (meaning there is no debt left to chase)
i will not be pursued for the balance (reading other horror stories on this board)

knowing what i want and getting what i want however have been 2 different things!

fatbelly

At least they've used the phrase 'full and final settlement'

However I would prefer a letter on company letterhead that you can file away for six years in case they or some other dodgy DCA contact you in the future.

DarkConvict

I would still try and go for it in writing and with the terms you want to try and keep your credit file a bit healthier.