full and final settlement

luckycat99

Thanks guys for the advice its very helpful - though lectures on debt are not!

in my wellies, I am fully aware that I have to pay my debts which is why I am endeavouring to pay as much of my debts off as possible. In fact years ago the CAB suggested I declare myself bankrupt as they saw it as the only sensible option - however I decided not to do that as I ran the debt up and so I wanted to pay it off - I took responsibility for it. I don't expect others to subsidise me, and never have. So please don't judge me as its not helpful and you don't know anything about my circumstances. The offer i made to moorcroft was that I can afford to pay them a lump sum (reduced figure) now or pay whole amount in installments.

I hope I haven't offended you as that was not my intention - I just wanted to illustrate that such comments are not helpful.

Also the choice to become bankrupt is difficult, personal and dependent on circumstances so i would not want anyone to think that I view that as not taking responsibility for their debt - this is just how it was for me.

Thanks again guys for your advice.

I will post the letter here when I recieve it.

Ta!

Iriahm

hey, looking forward to hearing more as i am trying to settle some accounts I have and all advice is gratefully received.

xXx

luckycat99

HI guys,

I've received the letter this morning from moorcroft:

Dear Miss Luckycat,

Moorcroft ref:
Client ref:


Further to your recent communication I write to confirm that upon receipt of your short settlement payment of £290.38 the remaining balance of this account will not be pursued further by ourselves or our clients.

The payment must reach our offices no later than 10am on 22/7/6 otherwise this offer will be withdrawn and further action will be taken to recover the full balance outstanding.

Yours sincerely

Accounts Department.


So what do you think- can i go ahead and pay? They haven't given me much time - less than 24 hours!

So any advice would be welcome asap please, given the time scale - tssk.

Thanks guys.

melancholly

that time scale sounds a bit stupid - you could send a cheque with guarenteed delivery tomorrow (and a signature so you can prove it got there wouldn't do any harm). but you could include a letter saying that such a short timescale seems unecessary - imagine if you went to work before the post arrived and then only got the letter this evening?! since you negotiated a good deal it might be best to just pay it and clear off a debt, rather than dragging it out further - they are being unreasonable by saying pay by tomorrow (in my opinion, anway!), but just getting rid of the debt so you don't have to deal with them ever again is probably more important!

luckycat99

bump,bump,bump

luckycat99

well i did it - I paid them the f&f amount after receiving their letter.

I asked them about whether they would register the debt as satisified, and they initially sounded confused and said they didn't register my account as defaulted etc with credit ref agencies an that i would have to contact freemans to see if they did. So I shall do that tomorrow.

I just wanted to thank everyone for their support and advice. I feel so pleased with myself - I have taken a big chunk off my debts and moved my debt free date forward by two months so i'm having a very good month debt-wise. I feel more positive and that it is possible that my total debt will be £0.00 one day in the not too distant future.

This has motivated me to try and make some one-off big payments when I can afford to , in addition to paying off a little each month.

Its so good to see the numbers come down each month. I'll be spending a lot of time on here now to reduce my oputgoings even more.

Thanks a million!